The European regulatory framework on crypto-asset service providers is complete – last ESMA Guidelines applicable from 28 July 2026

The European regulatory framework on crypto-asset service providers is complete - last ESMA Guidelines applicable from 28 July 2026

On 28 January 2026, ESMA issued Guidelines (ESMA35-24871704-2922) for the criteria on the assessment of knowledge and competence under the Markets in Crypto Assets Regulation (MiCA).

The Financial Supervisory Authority (FIN-FSA) has confirmed that it will comply with the Guidelines.

The Guidelines relate to the power to issue regulations provided for in section 25 of the Act on Crypto-Asset Service Providers and Markets in Crypto-Assets (402/2024). For the time being, the FIN-FSA will not exercise its right to publish the list of external professional education bodies referred to in paragraphs 21 and 26 of the Guidelines or to determine a shorter period than that set out in paragraph 28(d) of the Guidelines.

In accordance with Article 16(3) of the ESMA Regulation^[1], financial market participants shall make every effort to comply with the ESMA Guidelines.

Subject matter

The Guidelines apply to all crypto-asset service providers when they give information on crypto-assets and crypto-asset services. In addition, the Guidelines contain separate requirements for crypto-asset service providers that provide advice on crypto-assets. The Guidelines concern the knowledge and competence requirements of persons giving information or advice. The annex to the Guidelines also provides examples of situations in which the Guidelines must be applied. It is worth noting, for example, that the Guidelines also apply to individuals who prepare, determine or publish information or advice, even though they may not be in direct contact with clients.

With the publication of the Guidelines, the European regulatory framework for crypto-asset service providers is complete. The European Supervisory Authorities have issued all the standards and guidelines required to be issued in Title V of the MiCA Regulation. The Commission's delegated and implementing regulations on crypto-asset service providers are in all full force and effect. The FIN-FSA has brought together regulations on crypto-asset service providers on its website in the section Crypto-asset activities > Regulation. Delegated and implementing regulations can be searched in, for example the European Commission's Register of delegated and implementing acts.

Date of application

The Guidelines will apply from 28 July 2026.

For further information, please contact

Tytti Tanninen, Senior Supervisor

telephone +358 9 183 5533, email: tytti.tanninen(at)fiva.fi

Appendix

ESMA Guidelines for the criteria on the assessment of knowledge and competence under the Markets in Crypto Assets Regulation (MiCA)

See also

Guidelines of the European Supervisory Authorities

[^{1] Regulation (EU) No 1095/2010 establishing ESMA.}

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