The Central Bank is tightening requirements for digital financial assets (DFAs): what will change for investors from October 2026
Starting October 1, 2026, fundamentally new information disclosure standards will come into effect in the digital financial assets (DFA) market. The regulator is finally taking a systematic approach to protecting investor rights, requiring issuers to provide comprehensive data on each issuance.
The main goal of the innovations is to give market participants objective tools for assessing the reliability of instruments before purchasing them. This is not just about formalities, but about real transparency, which this segment has sorely lacked.
Universal Data Disclosure Requirements
Now, the documentation for each issuance must include the financial indicators of the issuing company based on its accounting reports. An alternative option is to provide a direct link to a resource where this information is publicly available. If the issuer has a credit rating, investors must be informed about the website of the rating agency that conducted the assessment.
This significantly simplifies due diligence for qualified investors and reduces information asymmetry in the market.
Enhanced Standards for Credit DFAs
Special attention is given to instruments whose income is tied to payments on bank loans. By purchasing such DFAs, the investor assumes the default risks that originally lay with the lender. To make these risks obvious, the issuing bank is required to describe the loan agreement in detail and disclose information about the borrower.
In cases where the base is a set of loans, a qualitative description of the portfolio must be provided, listing all significant borrowers and indicating the share of overdue debt. Possessing such information allows the investor to take a balanced approach when purchasing these complex products.
The regulator reminds that due to the special nature of the instrument, it can only be acquired by qualified market participants.
My analysis: This is an important step towards a civilized DFA market. Transparency is the foundation of trust, and the new rules will undoubtedly improve the quality of issuances. However, it is worth remembering that even the most detailed documentation does not guarantee profitability. Investors still need to carefully analyze risks, especially in the credit DFA segment, where a borrower's default can completely wipe out investments.