Following the entry into force of the Markets in Crypto-assets Regulation (MiCA), on 14 July 2023 the Dutch legislator has started a consultation on the proposal for the MiCA implementation act (Uitvoeringswet verordening cryptoactiva, the Implementation Act) and it’s explanatory memorandum (memorie van toelichting). Under...
The General Data Protection Regulation (GDPR) awards humans (data subjects) protection from violation of their privacy by misuse of their personal data. In this sense, the GDPR is a way to protect a basic human right (namely, the right to respect for family and private...
1. Introduction After reaching a provisional political agreement on the final text on 30 June 2022, the Markets in Crypto-assets Regulation (MiCA) was formally voted on and adopted in the plenary of the European Parliament on 20 April 2023. Subsequently, MiCA was formally signed into law...
The GDPR will soon celebrate its first lustrum. Since 25 May 2018, organisation in the Netherlands have been obliged to comply with the General Data Protection Regulation (GDPR). This is not always easy, so sometimes things go wrong. Anyone who falls victim to a GDPR-blunder...
1. Introduction: Establishing the Anti-Money Laundering Authority (AMLA) has been referred to as the centrepiece of the new Anti-Money Laundering (AML) package by the EU Commission. Broadly speaking, it will promote cooperation and convergence of AML and Countering the Financing of Terrorism (CFT) practices across the...
1. Introduction: The recast of the Anti-Money Laundering Directive (AMLD) and new Anti-Money Laundering Regulation (AMLR) serve the primary purpose of the Anti-Money Laundering (AML) package to increase and facilitate cooperation between Member States in the fight against money laundering (ML) and terrorist financing (TF), while...
1. Introduction: The Transfer of Funds Regulation (TFR) was adopted in 2015, laying down rules on the necessary payer and payee information that must accompany transfers of funds within the EU. Its purpose is to assist Member States’ authorities in preventing and detecting money laundering and...
1. Introduction: In July 2021, the European Commission presented a new package of legislative proposals to strengthen the measures against money laundering and financing of terrorism across the European Union. This package consists of a Regulation establishing the new EU Anti-Money Laundering Authority (AMLA), an Anti-Money...
1 - Crypto-Asset Service Providers Crypto-asset service providers (CASPs) are companies that help users control, trade or store their crypto-assets. Examples include Luxembourg based Blockchain.com, a virtual cryptocurrency wallet provider responsible for facilitating 28% of global bitcoin transactions, Bitpanda, an Austrian based exchange enabling the purchase...
1. Setting the Scene According to the MiCA Article 3 definitions, asset-referenced and e-money tokens are crypto assets primarily intended as means of exchange that purport to maintain a stable value by reference to other forms of capital. However, while asset-referenced tokens may refer to baskets...