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By Dr. Sebastiaan NIELS HOOGHIEMSTRA*
On 29 November 2021 the Commission de Surveillance du Secteur Financier (“CSSF”) adopted the FAQ “Virtual Assets – Undertakings for Collective Investment” (“FAQ-UCI”). The FAQ-UCI has been updated on 4 January 2022 by the CSSF with depositary aspects. On the same date, the CSSF adopted the “FAQ Virtual Assets – Credit Institutions” (“FAQ-CI”) that specifies several aspects in relation to credit institutions and virtual assets (services) that is, in particular, relevant for credit institutions appointed as depositaries. Many questions are raised in practice with respect to the FAQ-UCI and FAQ-CI (together, the “FAQs”). This contribution provides an overview of the key aspects of the new rules targeting Luxembourg...
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