1. Present Regulatory Environment With the exception of a few European national jurisdictions that have adopted domestic crypto-assets regimes, such as Malta and France, the admission and offering of crypto-assets on European capital markets is subject solely to the listing rules of individual trading platforms. MiCA is...
1. Choice of legislative instrument One of the first things to appreciate about MiCA is that this legislative document takes the form of a Regulation. Unlike Directives, Regulations are a form of EU law instrument that is directly applicable in all Member States and does not...
1. Introduction As mentioned in the introductory part of this series, the Markets in Crypto-Assets (MiCA) Regulation is part of the Digital Finance Package, which aims to support digital finance innovation by providing legal certainty for token issuers and related service providers, while simultaneously mitigating the risks...
1. Digital Finance Package The Markets in Crypto-Assets (MiCA) draft Regulation was released by the European Commission in September 2020. It is part of the Commission’s Digital Finance-package that aims to deliver innovative financial products to EU citizens, while maintaining high levels of investors’ protection and ensuring...
Cristiano Ronaldo, Lionel Messi, Virgil van Dijk. All very good practitioners of the sport of football and therefore also highly rated virtual characters in the world-famous football game ‘FIFA’. The most popular playing mode in this virtual football game is FIFA Ultimate Team (“FUT”). In...
1. Background Market integrity has long been considered a key aspect of investor protection in traditional finance. Measures guaranteeing equal access to information and fair price formation regarding financial instruments have been the subject of EU wide harmonization since 2003, which has resulted in the Market...
In an earlier blog we discussed the Money Laundering and Terrorist Financing (Prevention) Act (Wet ter voorkoming witwassen en financiering van terrorisme), hereinafter Wwft. As the name implies, the aim of the Wwft is to combat money laundering and terrorist financing. Various obligations for the...
De Covid-19 crisis heeft geleid tot diverse noodverordeningen. Deze waren primair ingegeven door de vrees bestaat voor ernstige wanordelijkheden. Een noodverordening vormt over het algemeen een ernstige inbreuk op grondrechten en wordt daarom zelden uitgevaardigd, maar dit zijn uitzonderlijke tijden. Beperking van grondrechten is echter...
The emergence of the Distributed Ledger Technology has completely transformed the ability of businesses and individuals to transfer money and raise capital by cutting out middlemen, raising payment efficiency and increasing the pool of available investors to any geographical location. Besides opportunities, however, this technological...
Proposed in July 2016, as part of the EU’s plans to combat terrorism, the 5th EU Anti-Money Laundering Directive (AMLD 5) entered into force on the 9th of July, 2018. By design, the AMLD5 is meant to become an inherent part of the laws of Member States...