The Markets in Crypto-Assets (MiCA) Regulation was finally adopted during the spring of 2023 and is expected to come into force on December 30, 2024. Regulation (as opposed to a Directive) means direct application (without the countries having to ratify it), it will still require local regulators to create domestic Read more…
Today, I wanted to talk (again 😬) about the “Travel Rule” for blockchain transfers and what might be the first simplified implementation of it for a FInTech startup that’s getting very confused by various complex solution providers and consortia offerings. 1. Scope – What is the “Travel Rule”? FATF issued Read more…
Here is a short (comparing to the original 200+ pages) summary of the future EU Regulation on how EU-wide crypto licenses and issuance of crypto assets may look like. Key EU policy priorities: Expressed clear preference for harmonizing local counties domestic crypto licensing regimes to make them unified and passportable; Read more…
Have you heard about the new Crypto regulations that are coming? Yana explains what they are and what they mean for Crypto companies. She believes the regulation will harmonize requirements from country to country with a single regulatory regime that will cover different types of crypto services. Yana shares that Read more…
Two new regulations came about in early 2020 with respect to AML and KYC requirements and they generated a number of speculations, second-guessing and urban legends – EBA Guidelines Draft and updated JMLSG “Prevention of Money Laundering” regulation. Let’s first talk about EBA Draft Guidelines JC 2019 87 on “Money Laundering Read more…
I shared earlier that, in my view, the Liechtenstein Blockchain Act is a very advanced, helpful and comprehensive legislation, providing a lot of clarity for market participants. However, as everyone moves into implementation, most FinTech startups I talked to, run into some level of ambiguity with the following critical questions: Read more…
When you are a FinTech startup just coming up with a beta product, the minimum of the minimum customer tags and categories you need are: Legal entities vs natural persons High risk vs standard risk customers As you grow, have more customers and add complexity, you can build on it Read more…
Friendly fraud is real and it’s actually super common. So – let’s talk about it! In payments and e-commerce industry, “friendly fraud” is a scenario where someone from the “friends and family” circle of the “victim” gains access to their device, passwords or email account, and can initiate transactions or Read more…
Liechtenstein recently confirmed its place as one of the most FinTech-friendly jurisdictions by adopting a new circular on digital verification of customers! What’s changed: In addition to 2-way video verification of customers, more options are made available to FinTech platforms. From now on you can also verify individual customers Read more…
Photo by Aslı Yılmaz on Unsplash I sometimes feel that confusions and misperceptions about passporting of financial licenses across EU/EEA is an ever-growing bubble. Today, we will burst this bubble once and for all! Passporting is a formal recognition of your company’s rights to operate freely in any EEA country Read more…