Imagine you're playing a board game but the rules are a bit complicated. The Securities and Markets Stakeholder Group (SMSG) is like a group of experienced players who have given advice to the game's rule committee (the European Securities and Markets Authority, or ESMA) on how to make the rules for a new type of game piece (crypto-assets) under a big rulebook called MiCA.

FORT Vilnius managing partner Andrius Mamontovas says that this advice is important because it explains how these new game pieces should be used in the financial markets.