It’s been reported recently by a number of news outlets (here or here) that Luxembourg introduced a new Blockchain law. Why I refer to it as an “unfortunate hype” is because, factually speaking, this regulatory statement did not introduce any significant changes and did not really provide a lot of clarity. Read more…
If you work in compliance, you have told your business partners (multiple times) that they must “own their risks” and make the final decisions – and that the role of compliance is to remain independent and to offer expert advice. You probably think that this is just the way things Read more…
Regulator provided clear distinction between e-money (formerly stored value) and digital payments tokens. Digital payment token: Expressed as a unit Not denominated as a currency and isn’t pegged to one Is / will be a medium of exchange, will be accepted as payment for goods and services OR debt Read more…
I was recently preparing a team for an external on-site audit visit and the basic guiding principle I declared was: “You are going to do all the work and they are going to get paid”. I meant it. It sounds a bit odd and potentially provocative, but the truth of Read more…
My biggest takeaway from reading the Liechtenstein Blockchain (they named it “TT” for “trustworthy technology” – to ensure that the law is technology-neutral) Act draft version is that many of its provisions make a lot of sense. I really liked how a token is defined as a representation of any Read more…
On January 1st, 2019 a new license type will become available to FinTech companies established in Switzerland. This so-called FinTech Authorization was introduced as an amendment to the Swiss Banking Act on June 15th, 2018, and has now come into force. In summary, if the number of clients’ funds accepted Read more…
Many startup founders ask me how to optimize the cost of transaction monitoring or blockchain tracking. Is it really necessary to send all transaction for monitoring and all blockchain transactions for risk-scoring? No! You can be selective and apply a risk-based approach 🙂 It might indeed be very costly to Read more…
