Regulatory AlertsESMA Guidelines on the conditions and criteria for qualifying crypto-assets as financial instruments
The European Securities and Markets Authority (ESMA) issued these guidelines to establish the specific conditions and criteria for determining when crypto-assets qualify as financial instruments under EU law. The document serves as a regulatory reference for market participants and national competent authorities to ensure consistent application of the Markets in Crypto-Assets (MiCA) Regulation. It clarifies the legal boundaries between crypto-assets regulated under MiCA and those classified as financial instruments subject to existing securities legislation.
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