The CSSF adopted EBA and ESMA Guidelines relating to MiCA

In its recently published circulars, the Commission de Surveillance du Secteur Financier (CSSF) has informed that it will apply some of the European Banking Authority (EBA) Guidelines and the Joint EBA and European Securities and Markets Authority (ESMA) Guidelines relating to Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets (MiCA), and has integrated them into its administrative practice and regulatory approach. The adoption has been materialised through the following published circulars:

• Circular CSSF 25/876 on the application of the Guidelines of the European Banking Authority on redemption plans under Articles 47 and 55 of Regulation (EU) 2023/1114 (EBA/GL/2024/13);
• Circular CSSF 25/875 on the application of the joint EBA and ESMA Guidelines on the suitability assessment of members of management body of issuers of asset-referenced tokens and of crypto-asset service providers, and of Joint EBA and ESMA Guidelines on the suitability assessment of shareholders and members, whether direct or indirect, with qualifying holdings in issuers of asset-referenced tokens and in crypto-asset service providers (EBA/GL/2024/09; ESMA75-453128700-10);
• Circular CSSF 25/874 on the application of the Guidelines of the European Banking Authority establishing the common reference parameters of the stress test scenarios for the liquidity stress tests referred in Article 45(4) of Regulation (EU) 2023/1114 (EBA/GL/2024/08);
• Circular CSSF 25/873 on the application of the Guidelines of the European Banking Authority on recovery plans under Articles 46 and 55 of Regulation (EU) 2023/1114 (EBA/GL/2024/07); and
• Circular CSSF 25/872 on the application of the Guidelines of the European Banking Authority on the minimum content of the governance arrangements for issuers of asset-referenced tokens (EBA/GL/2024/06).