European Securities Regulator to Conduct Knowledge Test for Crypto Employees
The European Securities and Markets Authority (ESMA) has released a consultation paper inviting feedback on a proposed knowledge assessment for individuals providing advice on crypto-assets or offering information about crypto-assets and services on behalf of crypto-asset service providers (CASPs).
This initiative is part of the technical standards ESMA is developing under the Markets in Crypto-Assets (MiCA) regulations.
ESMA has decided to expand the knowledge requirements outlined in MiCA, not only assessing advisers but also extending to those supplying information for CASPs.
The agency believes this is essential to fulfill the MiCA mandate that CASPs act in their clients’ best interests. Furthermore, even staff not directly interacting with the public or clients must maintain a solid knowledge base if they manage “parameters and settings” for automated services.
