Regulatory Alerts2024-12-04
EBA and ESMA Joint Guidelines on the Assessment of Fit and Proper Members of the Management Body of Asset-Referenced Token Issuers and Crypto-Asset Service Providers
The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) issued joint guidelines to standardize the assessment of the fit and proper status of management body members for asset-referenced token issuers and crypto-asset service providers. These guidelines establish specific criteria regarding good repute, individual knowledge, skills, experience, and collective competence required for effective governance and risk management. The document mandates that competent authorities apply these standards proportionally, considering the size and complexity of the entities, to ensure robust oversight of the crypto-asset market.
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