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The Comisión Nacional del Mercado de Valores (CNMV) has announced its intention to adopt European guidelines on suitability assessments required by the Markets in Crypto-Assets (MiCA) regulation for crypto-asset service providers (CASPs). This announcement was made public on the CNMV's official website on February 4, 2025.
According to the CNMV, these guidelines will apply to management body members of asset-referenced token issuers and CASPs, as well as shareholders or members with qualified holdings in ART issuers or CASPs. For management body members, the guidelines outline suitability requirements such as honorability, knowledge, collective competencies, experience, and time commitment. The guidelines also specify how CASPs should conduct suitability assessments and adopt corrective actions if necessary. Additionally, they detail how competent authorities should assess suitability.
For shareholders with qualified holdings, the guidelines refer to the joint guidelines of the European Supervisory Authorities (ESAs), outlining criteria to evaluate concerted action or significant influence between shareholders. The assessment will cover their reputation, professional competence, and whether there are any concerns regarding money laundering or terrorist financing. These guidelines will take effect on February 4, 2025.
