Until recently, any crypto-currencies were not listed on these islands, but in light of the rapid development of the crypto-industry around the world, now this jurisdiction has become one of the most promising and popular places for obtaining a crypto-license. Below we will look at the main aspects of crypto-regulation and the procedure for obtaining…
In the dynamic monetary field of Singapore, achieving an Electronic Money Institution (EMI) permission is a pivotal step for enterprises aiming to operate in the digital payments sector. This comprehensive article explores the intricacies of acquiring an EMI permission in Singapore, including the adjustment substructure, application process, operational conditions, and strategic considerations for accordance and…
Malaysia is one of the first countries to introduce cryptographic regulation policies. Under such policy, crypto-currencies are classified as securities, and according to Minister of Finance, the Malaysian governmental authorities believe that crypto-currencies and blockchain-technologies have tremendous potential to stimulate economic progress. It is believed that digital assets and their underlying blockchain technology can help…
The Dubai Worldwide Financial Centre (DIFC) is a pivotal hub for global finance in the Middle East, providing a sophisticated and business-friendly circumstances designed to facilitate growth and invention in the economic sector. As one of the world’s premier monetary free zones, DIFC supplies a unique adjustment and legal substructure, attracting a broad array of…
Overview An Australian Financial Services License (AFSL) licensed company for sale, established in 2004 and holding a credit license, is available for sale. This company is authorized to conduct comprehensive financial services and is perfectly suited for immediate operational commencement. Company Details Registration Year: 2004 Bank Account: Maintained with St. George Bank Support: Assistance with…
Overview This Securities Dealer licensed company for sale in Seychelles and registered in 2023, is currently available for sale. It operates under full compliance with local regulations, presenting a clean and streamlined opportunity for immediate operational takeover. Company Details Location: Seychelles Registration Year: 2023 License Type: Securities Dealer License Staffing and Infrastructure Staff Composition: The…
This is a new investment opportunity – AFSL license in Australia for sale. Please check out the main details regarding this proposal below. AFSL license in Australia for sale: key considerations Active company licensed by Australian Securities & Investments Commission (ASIC) in 2023; Allowed activities (financial product advice, deal in a financial product, custodial or…
Corporate Overview Establishment Year: 2018 Capital Structure: CHF 100,000 Licensing: Licensed as a Portfolio management company in Geneva for sale by FINMA in 2022; previously operated under SRO status. Business Operations of Portfolio management company in Switzerland for sale Core Activities: Specializes in providing financial advice and asset management services. Additional Capabilities: Authorized to establish…
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+1 (888) 647 05 40MiCA, a new law on the cryptο markets, is targeted to set up new, comprehensive legal and regulative mechanisms to bring digital assets, along with CASPs, within the remit of the EU administration of justice on monetary operations. A specified by the lawmakers, the rules applicable to providers of crypto asset services will be enforceable within the EU with no necessity for local-level lawful acts. This new establishment is in line with client safeguarding standards and creating efficient and harmonized access to cryptos across the single platform. When it comes to the application of new law, it concentrates on specific types of cryptos that are now not encompassed by enforceable charters – i.e. it does not refer to NFTs classified as financial tools.
First thing first, on June 30, 2022, the EU Council Presidency and the EuroParliament approached a provisional agreement on the scope and direction of the MiCA. It was the first try of EU legal standard-setters to establish single standards for crypto within the EU and address vulnerabilities that cryptocoins may entail while fostering new initiatives. Once enacted, the law is expected to become enforceable 1,5 years after it’s coming into effect.
In accordance with the law, cryptο-asset services prοviders (hereinafter mentioned as CASPs) should only be legal persons with registered offices in one of the EU countries. They should be authorized as CASPs.
The approved status as a CASP will be lawful within the EU and must enable CASPs to deliver the offers for which they have obtained their approvals, either under the principle of Right of Establishment, via a representative office, or under the freedom to deliver offers.
CASPs must operate based on the EU standards of honesty, fairness, and professionalism with their clientele and potential clientele and will deliver their clientele transparent, honest data, particularly in their commercial communicative purposes, which must be defined as such. CASPs are liable for warning their clientele of the risks related to the acquisition of cryptos. They must ensure their pricing policies are publicly accessible by listing them on their websites.
CASPs must ensure prudential guarantees of having the below-mentioned 2 amounts are in place:
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