EBA and the European Securities and Markets Authority ("ESMA") published a Consultation Paper on two draft Joint Guidelines covering suitability assessment of members of the management body, and suitability of shareholders and members with qualifying holdings of issuers of asset-referenced tokens ("ARTs") and of crypto-asset service provider ("CASPs"). The guidance will provide clarity and harmonisation with respect to the criteria to assess the suitability of the management body, the shareholders and members with qualifying holdings, thus reducing the risk of arbitrage in the application of the rules.
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