The development of regulations concerning crypto-assets and alternative forms of financial systems and products has significantly advanced in recent years on all levels: international, supranational, and local. Regulatory development in the European area is expected to only strengthen in the future.

Such regulation is, to a certain extent, welcome, as it provides companies offering goods and services in this field with a clear framework and operational legitimacy while also (at least partially) ensuring the protection of investors and clients.

However, in most cases, the adopted regulations tend to be overly rigid, as they are almost always based on the regulatory framework of the traditional financial system. However, alternative forms of financial systems and products are not always aligned with or equivalent to these traditional systems. While this approach is somewhat understandable (mainly from the consumer protection perspective), it also hinders innovation in this field and the growth of the crypto-asset market and related products and services.

By establishing the Working Group for Matters Related to Crypto Assets Service Providers (CASP), we aim to provide interested companies with a platform where they can express and discuss their concerns regarding current and planned approaches and positions of the relevant regulators that affect the operations of service providers in connection with crypto-assets. At the same time, we want to offer state authorities and other public bodies a dialogue partner to engage in professional discussions about planned regulatory approaches and adopted positions while addressing the practical implications of such regulations for the economy and companies they affect.