Knowledge and competence of staff providing information on crypto-assets – ESMA criteria published
ESMA has released guidelines detailing knowledge and competence criteria for staff at crypto-asset service providers (CASPs). These guidelines are under the Markets in Crypto-Assets Regulation (MiCA). The document specifies the minimum knowledge levels required for staff who offer information or advice on crypto-assets. It considers specific risks in crypto markets, such as volatility and cybersecurity. These guidelines aim to help CASPs meet obligations and protect client interests. Competent authorities will use them to assess CASP compliance. The goal is to boost investor protection and confidence in crypto-asset markets. ESMA conducted a public consultation to gather stakeholder feedback, including from the SMSG. The guidelines will be translated into all EU languages and published on ESMA's website. They become effective six months after this publication. Competent authorities must notify ESMA of their compliance intentions within two months of publication.