The new and evolving sector around virtual assets raises numerous questions from professionals under the supervision of the Luxembourg financial sector regulator (Commission de Surveillance du Secteur Financier – “CSSF”), notably questions in relation to investments in virtual assets by investment funds and credit institutions and the provision of services in relation to virtual assets by credit institutions. To respond to such recurring questions, the CSSF has recently provided guidance on virtual assets by publishing concise answers to a list of frequently asked questions (“FAQ”). The CSSF published two sets of FAQs providing guidance on virtual assets: one for undertakings for collective investments (“UCI”) published on 29 November 2021 (the “FAQ-UCI”) and one for credit institutions published on 23 December 2021 (the “FAQ-CI”). The FAQ are expected to be updated by the CSSF from time to time. Both the FAQ-UCI and the FAQ-CI were last updated on 4 January 2022.