ESMA Consultation On Knowledge And Competence Of CASP Staff

ESMA Consultation - Knowledge and Competence of CASP Staff

ESMA recently published a consultation paper on the criteria for assessing the knowledge and competence of Crypto-Asset Service Providers' ("CASPs") staff giving information or advice on crypto-asset services. Whilst publishing draft guidelines, feedback is being sought in relation to the (i) minimum required knowledge and competence; and (ii) organisational requirements for assessing, maintaining, and updating the knowledge and competence of the staff providing information or advice.

The guidelines are being published by virtue of the mandate issued under the Markets in Crypto-Assets Regulation (MiCAR). The mandate enhances investor protection by establishing standards that have to be met when giving such advice, whilst requiring CASPs to assist competent authorities when assessing the CASP's compliance with the established standards.