ESMA clarifies requirements for crypto service providers- what do the final guidelines mean for the market?

On 11 July 2025, the European Securities and Markets Authority (ESMA) published the final project of its guidelines specifying the criteria for assessing the knowledge and competence of staff employed by crypto-asset service providers (CASPs) who provide information or advice regarding crypto-assets or related services. While these guidelines are non-binding, they may serve as an important point of reference for national supervisory authorities.

Why is ESMA clarifying the standards for CASP personnel knowledge?

The introduction of the Markets in Crypto-Assets (MiCA) Regulation in December 2024 imposed obligations on CASPs to ensure that their staff possesses an adequate level of knowledge and competence. Acting under Article 81(15) of MiCA, ESMA developed the guidelines to support CASPs and supervisory authorities and to clarify the qualification criteria for client-facing personnel.

When is information sufficient, and when is full advice required?

The guidelines differentiate requirements based on the nature of client interaction:

• Staff providing information (e.g. on crypto-asset-related products or services) should have at least 80 hours of professional training in crypto-assets and 6 months of supervised experience, or alternatively 12 months of supervised experience without training. They should also understand the basic features and risks of crypto-assets, how markets function, cybersecurity aspects, and basic valuation methods.
• Staff providing advice as part of crypto-asset advisory services should have at least 160 hours of professional training and 6 months of relevant advisory experience, or comparable professional experience, e.g. under MiFID II (governing traditional investment advice). They should also possess in-depth knowledge of classification rules, risks, DLT technology, valuation methodologies, tax implications, and disclosure obligations.

How to effectively implement ESMA guidelines in the daily work?

ESMA recommends that CASPs implement appropriate organisational mechanisms that ensure:

• Systematic assessment of the knowledge and competence of both new and existing staff.
• Maintenance and updating of knowledge through continuous professional development (ESMA suggests 10 hours of annual training for information providers and 15 hours for advisers).
• Documentation of training, certificates, exams, and career development paths.

The guidelines also outline a transitional approach for staff already employed when the guidelines take effect -if a person has worked in a given role for at least one year, they may be considered as meeting the requirements, provided that the CASP verifies their competence, e.g. through internal tests or annual appraisals.

Could failure to implement ESMA guidelines be detrimental?

The guidelines will take effect six months after the publication of their official translations on the ESMA website. By that time, national supervisory authorities- in Poland, this is the KNF-are expected to notify ESMA whether they intend to comply with the guidelines.

Although the guidelines are not legally binding and do not introduce new reporting obligations for CASPs, incorporating them into internal procedures may be appreciated by supervisory authorities during licensing or inspections.

Are you planning to operate as a CASP or want to prepare your team for ESMA requirements? Contact our law firm to assess the compliance of your procedures. Don’t wait and prepare your company for full compliance with the new guidelines!