New CSSF Guidance For Consumers Investing In Virtual Assets

OUR INSIGHTS AT A GLANCE

• On 27 April 2022, the Commission de Surveillance du Secteur Financier ("CSSF") released some new guidance to the attention of consumers who have obtained an increasing access to virtual assets through a wide variety of means and are exposed to promotion campaigns done via a high number of - sometimes untraditional - media, including social media platforms or other digital communication channels.
• This new guidance follows previous warnings to consumers issued on 14 March 2018 by the CSSF in relation to virtual assets and initial coin offerings and is in line with the traditional position of the CSSF to promote a neutral and prudent regulatory approach.