The Commission de Surveillance du Secteur Financier
("CSSF") has updated its FAQ –
Crypto Assets – Undertakings for collective investments (the
"FAQ") to clarify how UCITS, AIFs,
investment fund managers ("IFMs") and
depositaries may engage with crypto-assets, whilst outlining
supervisory expectations regarding risk management and AML/CFT
controls.
UCITS
UCITS may obtain indirect exposure to crypto-assets up to 10% of
their NAV, provided that such indirect exposure is via eligible
transferable securities, the instruments do not embed derivatives
and the assets qualify as transferable securities under the Law of
17 December 2010 relating to undertakings for collective
investment.
