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ARTICLE · 22 JANUARY 2021

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CySEC Guidance Relating To Crypto Assets

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Crypto-assets are "a type of private asset that depend primarily on cryptography and distributed ledger technology as part of their perceived or inherent value.

CyprusTechnology
Elena Kanarini
Elena Kanarini
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Crypto-assets are "a type of private asset that depend primarily on cryptography and distributed ledger technology as part of their perceived or inherent value. A wide range of crypto-assets exist, including payment/exchange-type tokens (for example, the so-called virtual currencies – VC's), investment-type tokens, and tokens applied to access a good or service (so-called 'utility' tokens)."1

CySEC Circular (C417) relating to crypto assets lays down the first CySEC rules around crypto assets. This Circular aims at establishing a common treatment by the CIFs when calculating their own funds and capital adequacy ratio and enhancing the risk management procedures applied by the CIFs when they deal with crypto assets, until a common application of the current rules is developed for crypto assets.

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