On 22 February 2024, the Commission de Surveillance du Secteur Financier (CSSF) revised its FAQ on Virtual Assets for Undertakings for Collective Investment (UCIs) relating to the promotion of UCIs engaged in direct or indirect investment in virtual assets.
Reiterating that:
- UCITS may not invest directly and indirectly in Virtual Assets but that digital assets fulfilling the conditions of financial instruments do not fall within this prohibition.
- Alternative Investment Funds (AIFs) are permitted to invest directly (and indirectly) in virtual assets, provided that their units are exclusively promoted and restrict to well-informed investors and that the Luxembourg AIFMs to such AIFs are required to be specifically authorised for that strategy.
CSSF's press release and the updated FAQs can be found here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
