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Virtual assets
Summary
The CSSF is aware of the attention paid in recent years by the general public and professionals to virtual assets. These assets exist in the form of tokens issued through distributed ledger technology and can have various characteristics.
Faced with such financial innovations, the CSSF promotes a neutral and prudent regulatory approach.
The CSSF’s message is therefore not limited to a warning but it invites investors to be cautious and recommends that they obtain information on virtual assets before making any decision. Virtual currencies, for example bitcoin, are a sub-category of virtual assets and are not suitable due to their volatility for all investor profiles.
It is therefore essential that any investor considering the acquisition of virtual assets understands the risks they present and the regulatory framework that applies to them. In this regard, virtual assets are governed in Luxembourg by the Law of 12 November 2004 on the fight against money laundering and terrorist financing (“AML/CFT Law”).
You can find in this section the publications issued by the CSSF on the subject of virtual assets.
Publications
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22 July 2022
Notice to private consumers in the context of investment funds providing exposure to virtual assets
Communiqué -
Communiqué
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17 March 2022
EU financial regulators warn consumers on the risks of crypto-assets
The CSSF informs consumers that the European Supervisory Authorities (EBA, ESMA and EIOPA – the ESAs) have issued a warning on the risks of crypto-assets. This publication includes precautions that consumers can take in order to make informed decisions. Please…Warning -
17 March 2021
Crypto-assets: ESAs remind consumers about risks
The ESAs remind consumers that some crypto-assets are highly risky and speculative and, as stated in the ESAs’ February 2018 joint warning, consumers must be alert to the high risks of buying and/or holding these instruments, including the possibility of…Communiqué -
Warning
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Warning
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Warning