By Pablo Hernández de Cos
The term crypto-assets typically refers to a wide range of highly heterogeneous assets whose common trait is the fact that they are a digital representation of value or a set of contractual rights. Moreover, crypto-assets rely heavily on distributed ledger technology (DLT) for their transmission, trading and storage. However, unlike central bank digital currencies (CBDCs), they are not backed by a central bank or any other public authority.