On 4 December 2024, the official translation of the Joint Guidelines of the European Banking Authority (‘EBA’) and the European Securities and Markets Authority (‘ESMA’) on the assessment of the suitability of the members of the management body of issuers of asset-referenced tokens and of crypto-asset service providers was published. These guidelines have been issued on the basis of the delegation set out in Article 21(1) and 63(11) of Regulation 2023/1114[1].
The suitability assessment shall be based on the requirement that the members of the management body of issuers of asset-referenced tokens and of crypto-asset service providers comply with the criteria set out in Article 34(1) and 68(1) of Regulation 2023/1114, which provides that members of the management body must be of sufficiently good repute and be able to devote sufficient time to the effective performance of their duties, as well as to assess whether the members of the management body have, both individually and collectively, adequate knowledge, skills and experience to perform their duties. Furthermore, in accordance with the above-mentioned provisions, members of the management body may not be convicted of offences related to money laundering or terrorist financing or of other offences that could affect their good repute.
The guidelines can be consulted at this link:
https://www.esma.europa.eu/sites/default/files/2024-12/ESMA75-453128700-10_Joint_GL_suitability_members_management_body_and_QH_PL.pdf
[1] Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on Markets in crypto-assets and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937 (OJ L 150 9.6.2023, p. 40).