On 4 December 2024, there were published the official translations of the joint European Banking Authority (EBA) and European Securities and Markets Authority (ESMA) guidelines on the assessment of the suitability of the members of the management body of issuers of asset-referenced tokens and of crypto-asset service providers.

Next steps

The joint guidelines apply from 4 February 2025.

Member State competent authorities (NCAs) must notify ESMA or the EBA (as appropriate) by this date whether they comply, do not comply but intend to comply, or do not intend to comply with the joint guidelines. In case of non-compliance, NCAs must also notify the EBA or ESMA within two months of the date of publication of the translations of their reasons for not complying with the joint guidelines. Financial market participants and financial institutions are not required to report whether they comply with the joint guidelines.