Strengthening the crypto ecosystem: CSSF issues new guidelines

On 25 February 2025, the Commission de Surveillance du Secteur Financier (CSSF) issued four new circulars implementing key guidelines from the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) under the EU’s Markets in Crypto- Assets Regulation (MiCAR) (Regulation (EU) 2023/1114). These measures aim to enhance governance, risk management, and resilience within the crypto-asset sector, particularly for issuers of asset-referenced tokens (ARTs) and electronic money tokens (EMTs).