At the beginning of the year, Luxembourg’s financial supervisory authority, the Commission de surveillance du secteur financier (the "CSSF"), amended its FAQs on investments in virtual assets through undertakings for collective investment ("UCIs") (the "FAQ ") in order to provide further clarity at time when virtual assets becoming increasingly relevant.
The FAQs refer to the law of 12 November 2004 on the fight against money laundering and terrorist financing, as amended (the "2004 Law "), for the definition of virtual assets.
This article is written by Garry Reuland, Associate at Wildgen S.A.