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These guidelines are based on Article 16(1) of the Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory   Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC2.

According to Guidelines 2 of these Guidelines national competent authorities and financial market participants should classify crypto-assets as transferable securities if they confer to their holders equivalent rights to those granted by shares, bonds, other forms of non-equity securities or other transferable securities as referred to in Article 4(1)(44) of MiFID II. Since Slovak securities legislation does not enable the issuance of tokenised transferable securities (transferable securities issued by means of distributed ledger technology), national competent authorities and financial market participants can not classify any crypto-assets issued under Slovak securities legislation as transferable securities. Legislative change, which will address this issue, is envisaged. The National Bank of Slovakia intends to comply with these Guidelines once this legislative change takes effect.