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...
In everyday parlance it is often said that transactions executed with blockchain technology are ‘anonymous’. But how anonymous is data ‘on the blockchain’ really? What we call anonymous in everyday life can, according to the definitions from privacy legislation, be filled with personal data. And...
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...
Digitalisering in het betalingsverkeer heeft voor een ongekende dynamiek gezorgd. Contant geld wordt steeds minder gebruikt en de coronacrisis heeft dit een extra duwtje in de rug gegeven. Deze ontwikkelingen en het toenemende aantal nieuwe digitale activa dat op de markt is gekomen, deden de...
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...
Artificial intelligence has revolutionised the way we interact with technology, and one of the most recent and impressive examples of this is the development of language models such as ChatGPT. However, due to its broad applicability and fast emergence, ChatGPT has created many legal uncertainties, among...
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...