On 9 January 2019, the European Securities and Markets Authority (ESMA) published advice on ICOs and cryptoassets to the European Commission and other EU institutions.  This development is very much part of the international trend in favour of regulating cryptoassets.  The advice identifies gaps and issues with current EU regulation (or, rather, the absence of it).  For those cryptoassets which are caught by financial regulation, ESMA describes the current regime as inadequate, as it was…