Regulatory Alerts2025-04-30
CSSF Circular 25/886 on ESMA Guidelines for Qualifying Crypto-Assets as Financial Instruments
The Commission de Surveillance du Secteur Financier (CSSF) issued Circular 25/886 to implement the European Securities and Markets Authority (ESMA) guidelines regarding the qualification of crypto-assets as financial instruments. This document establishes the specific conditions and criteria that virtual asset service providers must apply to determine whether crypto-assets fall under the regulatory definition of financial instruments. It ensures that market participants in Luxembourg adhere to the harmonized standards set by ESMA for the classification and treatment of these digital assets.
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