Advice on Crypto-assets : Obligations of the authorised advisors under the proposed European Regulation on Markets in Crypto-assets
By George Kazoleas, Lawyer LL.M. The proposed European Regulation on Markets in Crypto-assets, and amending Directive (EU) 2019/1937, published in September 2020, introduces new legislation on crypto-assets (a digital representation of values or rights that can be stored and traded electronically). The purpose of the proposed regulation is to safeguard financial stability as well as to protect investors from potential risks. The new regulation aims to provide legal clarity and legal certainty for crypto-asset issuers and providers. It is also noted that the new rules will allow operators authorised in one Member State to provide their services across the EU ("passporting"). One of the regulated areas of the proposed legislation is the activity of crypto advisors. Any person that provides crypto-asset services on a professional basis should be considered as a ‘crypto-asset service provider’. Providing advice on crypto-assets is explicitly part of the meaning of ‘crypto-as
