Regulatory Alerts2025-04-30
Added · Updated
CSSF Circular 25/890 on Application of Joint ESA Guidelines for Crypto-Asset Templates and Standardised Test
The CSSF integrates the joint European Supervisory Authorities Guidelines on templates for explanations and opinions, and the standardised test for crypto-assets, into its administrative practice and regulatory approach effective 12 May 2025. This circular applies to offerors, persons seeking admission to trading, operators of trading platforms for crypto-assets other than asset-referenced tokens or electronic money tokens, credit institutions, legal persons intending to offer such tokens, and persons carrying out crypto-asset services under Regulation (EU) 2023/1114. These entities must use the specified templates to provide explanations or legal opinions regarding the classification of crypto-assets and apply a common approach using a standardised test flow chart to determine if assets fall within the scope of MiCAR.
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