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Europe proposes crypto entity suitability guidelines

The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) have published a joint document that contains crypto entity suitability guidelines. Two projects from the paper involve assessing the suitability of members of management boards and shareholders or participants who hold significant stakes in asset-linked token (ART) issuers and crypto asset service providers (CASPs). The two agencies offer guidance to evaluate the suitability of shareholders or participants holding significant stakes in ART or CASP issuers. Before this, the European Union’s banking regulator called on stablecoin issuers to voluntarily adhere to specific “guidelines”.

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