As the global landscape for cryptocurrency continues to evolve, countries worldwide are defining their stances on digital assets. Indonesia, with its rapidly growing economy and technological advancements, has been no exception. The regulation of cryptocurrencies in country has become a focal point for both local and international investors. This article delves into the specifics of…
Commonly, legal opinion is what we consider as an experienced lawyer’s advice. It is presented in the form of a document prepared by a client’s requirement. The article will provide you with all interested details regarding the provision of legal consultation. Legal opinion: Why do we need it? Banks frequently demand LOs from risky businesses…
1. Sorts of Commercial Units, Their Homestead and General Charge issues This country offers diverse business units with distinct lawful divisions, including the SA requiring EUR 30,000 minimum capital and the SARL with EUR 12,000, managed by boards of directors. The SARL limits subsidiaries to one hundred and could not trade publicly, while the SCA…
1. Trade License Acquiring a pervasive trade licence is a pivotal step for most commercial functioning in Switzerland. This licence is mandatory that assures your commercial functioning bonds to indigenous market rules and protocols. Here’s what you should know: Submission routine: You can apply for a commercial licence to the local canton’s market branch. This…
This is a new investment opportunity – SPI license in UK for sale. Please check out the main details regarding this proposal below. SPI license in UK for sale: key considerations Small Payment Institution (SPI) in UK for sale; Company was licensed by FCA in 2018; Allowed activities (money remittance, foreign exchange); Company has 3…
Seize the opportunity to effortlessly establish your business in the UK with our ready-made company, complete with premium bank accounts at Barclays and HSBC. Key features Company for Sale in UK with Barclays & HSBC Accounts Company Details: – Incorporated: 2024 – Registered Address: England – Company Type: Private Limited Company – Nature of Business…
Are you ready to establish your business presence in the UK effortlessly? Discover our exclusive offer—a ready-made company with immediate access to Natwest, Revolut, and Wise bank accounts. Here’s what you need to know: Key features Company for Sale in UK with Established Bank Accounts – Company Details: Founded in 2024, work in non-specialised wholesale…
An active transportation company limited by shares (SA) in Switzerland is now available for sale. This company, was established in 2020 and operates in the passenger and cargo transportation sector with a focus on sea and rail transport. Key Features Transportation Company in Switzerland Corporate Structure Form: Company limited by shares (SA) Year of Registration:…
Zurich
+41 435 50 73 23Kyiv
+38 094 712 03 54London
+44 203 868 34 37Tallinn
+372 880 41 85Vilnius
+370 52 11 14 32New York
+1 (888) 647 05 40In light of quickly emerging new projects stored on blockchain, the EU sets the first rules to regulate cryptocurrencies. EU authorities agreed on the adoption of legal mechanisms that would oversee the cryptomarket, obliging businesses to apply for authorizations to operate and provide services to users. Although the proposal still has to go via Brussel’ legit processes and might not be implemented until 2025, official representatives state it will turn the European Union into the first global crypto hub, where all 27 member-states will become the countries of free choice for those willing to create and engrain innovations in the crypto field. Currently, some countries do have laws administering cryptos at the local level, but new rules would create the EU framework launched firstly.
While establishing obligations on crypto firms and providers of cryptocoins, a new legal mechanism will also facilitate the provision of crypto services internationally within the EU.
The discussions around regulation follow months of unsettlement in the crypto domain. In May 2022, stablecoin UST crashed, resulting in anxiety across the market. Meanwhile, the values of BTC and other coins also tumbled. Lenders told holders they couldn’t take their contributions out, demonstrating how insecure investors are in a market that remains practically unregulated.
Under MiCA, which recently entered force, investors will obtain some protection. Namely, stablecοin issuers will be obliged to keep reserves that will be the same as mass withdrawals and be based in the EU. This landmark rule will put an end to the crypto uncertainties and confirm the EU’s role as a standard-setter for financial technologies. Also, for large stablecοins, there will be imposed a cap of approximately 200 million USD in transactions a day.
New rules also hit tokens without issuers, such as BTC. Under them, exchanges will have to outline a coin’s technologies and purposes, and bear liability for any misinformation. They will also be necessitated to lay out the pοssibility of risks for holders and comply with rules on storage of confidential details.
EU authorities assure that new rules will turn Europe into a one-of-its-kind broaden area with united oversight for virtual funds.
The ESMA will be empowered to apply restrictions on services offered by exchanges and will be responsible for maintaining a register of non-compliant providers.
NFTs or non-fungible tokens will be largely excluded from the legal mechanisms. It is expected that the EU Commission might come up with a separate proposal for these digital assets, which evidence ownership of digitalized assets like arts, songs, and films.
The recently proposed framework excludes decentralized finance, or DeFi – services offered on publicly accessible blockchains. This sector of the crypto universe has shown a rapid and successful rise in the past two years. And the recent decline in crypto valuations has led to concerns about holder protection rights, as some of these exchanges have faced liquidity and stability challenges.
The EU reached the MiCA framework prοposal in September 2020. According to the official comments, the primary purpose of this prοposed legislation is to foster innovations and new contributions to the market, while also guaranteeing strong protection for market players.
Further, the framework must obtain approvals from the EU member states and the Europarliament prior to transporting the rules to EU countries.
Please contact us to get more information.
You can see our current offers in the categories “Cryptocoins and licensing of cryptocurrency operations”, “Ready-made companies”, “Banks for sale” and “Licenses for sale”.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.