The European Securities and Markets Authority (ESMA) has released comprehensive guidelines for crypto-asset service providers, requiring their staff to meet stringent knowledge and competency standards. The guidelines aim to professionalize the crypto industry under the Markets in Crypto-Assets (MiCA) regulation. The proposed framework includes minimum qualification requirements, mandatory professional development, and specific qualifications and experience requirements for advisors. The guidelines aim to address the limited understanding of risks associated with crypto assets among retail investors. The consultation period for the guidelines will run until April 22, 2025, with ESMA expected to publish final guidelines in the third quarter of 2025. The rules will become effective 60 days after publication in all EU official languages. The guidelines complement MiCA, which established a regulatory framework for the crypto industry in the European Union.



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