crypto regulation Archives

From payment service providers to professional football clubs: New EU regulations to combat money laundering adopted

by Annabelle Rau on Apr 30, 2024
Posted In Banking Supervision, Crypto Regulation, Financial Services, Money laundering, Payment Services

On April 24, 2024, the European Parliament adopted a new anti-money laundering legislative package to strengthen the EU’s tools to combat money laundering and terrorist financing.

The package includes

• the sixth Anti-Money Laundering Directive (“AMLD6”) as well as
• the EU Regulation on a Single Rulebook and
• a new central supervisory authority.

Extended access to beneficial ownership data

A key aspect of the new legislation is to ensure that persons with a legitimate interest – including journalists, civil society organizations, supervisory authorities and other relevant stakeholders – have direct and unhindered access to beneficial ownership [...]

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Update for crypto asset service providers: Draft bill to transfer German crypto regulation to the EU MiCAR regime

by Annabelle Rau on Apr 24, 2024
Posted In Crypto Regulation, Financial Services

On April 5, 2024, the German Federal Ministry of Finance (BMF) published a draft bill for two regulations intended to facilitate the transition of national crypto regulation into the EU MiCAR regime.
These proposed regulations specify the simplified authorization procedure and create the possibility of submitting applications before the MiCAR regulations become fully applicable.

In brief: Simplified authorization procedure for already regulated institutions

At the end of 2023, the German legislator presented the draft Financial Market Digitization Act (“FinmadiG“), which, among other things, provides for a separate Crypto Markets Supervision Act (“KMAG“) (we [...]

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FinTech Market: Regulation of crypto assets in Germany and the EU

by Annabelle Rau and Renate Prinz on Sep 21, 2022
Posted In Crypto Regulation

In this webinar, Renate Prinz and Annabelle Rau provide an overview of the current regulatory land-scape for crypto assets and crypto service providers in Germany, also taking a look at the European level, where uniform legislation for the regulation of crypto-assets is coming soon. The following fur-ther topics will be covered:

Regulatory classification of crypto-assets in Germany.
Licensing requirements in connection with crypto-assets and crypto-services
Overview of the regulatory requirements for entities regulated in Germany
Draft European crypto regulation, in particular the Markets in Crypto-Assets Regulation (“MiCAR”).
Passporting of licenses within the EU

EU Trilogue agreed on Markets in Crypto Assets Regulation (“MiCAR”)

by Renate Prinz and Annabelle Rau on Aug 11, 2022
Posted In Crypto Regulation

The trilogue agreed on the final text for the Markets in Crypto Assets Regulation (“MiCAR“) on June 30, 2022, which now needs to be adopted by the member states (click here for the press release).

MiCAR will for the first time create a single European legal framework for crypto assets, crypto issuers and service providers. Crypto assets have been regulated in a predominantly inconsistent manner in Europe to date.
MiCAR provides for specific requirements for Utility Token, Value-Referenced Token and E-Money Token. It does not include Security Tokens, which are already subject to existing EU financial services regulations, [...]

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From payment service providers to professional football clubs: New EU regulations to combat money laundering adopted

Update for crypto asset service providers: Draft bill to transfer German crypto regulation to the EU MiCAR regime

FinTech Market: Regulation of crypto assets in Germany and the EU

EU Trilogue agreed on Markets in Crypto Assets Regulation (“MiCAR”)

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