European Supervisory Authorities Recommend EU-wide Approach on ICOs and Crypto-Assets

22 January 2019
View Debevoise Update
Key takeaways:
  • European Securities and Markets Authority (“ESMA”) and the European Banking Authority advise EU legislators on regulation of “crypto-assets” and initial coin offerings
  • The authorities clarify the applicability of existing EU financial regulatory framework to certain crypto-assets and suggest regulatory adjustments
  • ESMA invites considering a bespoke regime for yet unregulated crypto-assets
  • EU financial regulators discuss coordination of regulatory sandboxes and innovation hubs