The European Securities and Markets Authority (ESMA) is developing competence requirements for employees within the burgeoning crypto industry. Aligning with the EU’s MiCA regulations, ESMA’s proposed guidelines aim to ensure a baseline level of expertise amongst crypto professionals.
This week, ESMA released its proposal, soliciting feedback from crypto asset service providers, investors, and traditional financial institutions interacting with crypto. The proposal details specific criteria, including minimum qualifications and relevant work experience, which crypto firms should consider when hiring staff.
By establishing these minimum competency standards, ESMA hopes to foster greater investor protection and market integrity within the evolving crypto landscape. The initiative seeks to professionalize the sector and build trust by ensuring individuals handling crypto assets possess the necessary knowledge and skills.
