The Capital Markets Union removes obstacles within the European capital markets. STO issuers can freely chose the country in which they want their security prospectus to be approved. But which supervisory authority is the best choice and what are the criteria to be considered for the selection?
The harmonization of the capital markets enables European security emitters to offer their securities EEA-wide as long as they conduct a notification procedure. This is due to the EU Prospectus Directive. But can this advantage be transferred to security token offerings?