Willem-Jan Smits

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 with regard to financial instruments have been the subject of EU wide harmonization since 2003, which has resulted in...

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...

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. The Markets...

1. Choice of legislative instrument One of the first things to appreciate about the MiCA proposal is that this future legislative document is intended to take the form of a Regulation. Unlike Directives, Regulations are a form of EU law instrument that is directly applicable in...

We have been nominated for the Dutch Blockchain Awards! This confirms that not just (international) crypto companies, but also leading parties such as the Blockchain Netherlands Foundation (BCNL) and its community, see our crypto team as cutting edge. As a team that delivers state-of-the-art knowledge...

1. Introduction As mentioned in the introductory part of this series, the Markets in Crypto-Assets (MiCA) proposal 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...

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...

American blockchain software developer Tendermint has completed a strategic investment in Tgrade, a decentralized finance (DeFi) protocol developed by Foundation Ocean Blue. Built on the Cosmos blockchain, Tgrade provides developers with the ideal tools to build secure, regulated and robust DeFi products for the next...

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...