SK LEE’s Post

The ECB Final Report on MiCA 2024 Technical Standards You Need to Know The European Banking Authority (EBA) has released its Final Report on the draft Implementing Technical Standards (ITS) for reporting on asset-referenced tokens (ARTs) and e-money tokens (EMTs) under MiCAR. Key Highlights: 1️⃣ Reporting Requirements: Issuers of ARTs must report on the number of holders, value of tokens issued, size of reserve assets, and average daily transactions CASPs providing services related to ARTs are required to furnish issuers with necessary transaction data. 2️⃣ Standard Templates: Detailed templates for reporting have been established to ensure consistency and accuracy in data submission. 3️⃣ Clarifications on Transactions: Scope of transactions to be reported includes both on-chain and off-chain transactions. Specific guidelines provided to distinguish between custodial and non-custodial wallet transactions. 4️⃣ Data Privacy and Security: Measures included to address privacy concerns while ensuring accurate data reporting Maximum retention period for personal data set to 5 years. 5️⃣ Implementation Timeline: The ITS will apply from 1 January 2025, with the first reporting reference date being 31 March 2025. These updates are crucial for enhancing transparency and regulatory oversight in the crypto-assets market. The EBA's detailed guidance ensures that all stakeholders comply effectively with MiCAR's requirements. For more details, you can access the full report below. #eba #micar #cryptoregulation #fintech #blockchain #cryptoassets #regtech #finance #eu #crypto #bth #eth #xrp

The digital asset #ISIN now embeds the #DTI within its identifier to provide seamless interoperability across these ISO standards. If you missed the below event, come and speak to us to learn how these ISO standards can prepare your organisation for regulated digital asset trading. And a shout out to my colleagues Denis Dounaev and Rowan Varrall in the DTI Foundation and our business partners in ANNA for their great work. Stephan Dreyer

The CySEC - Cyprus Securities and Exchange Commission has announced on 13 November 2024, that it now accepts applications for a preliminary assessment under the EU’s Markets in Crypto-Assets Regulation (MiCA). Read more: https://lnkd.in/ek_878mj | George Polemidiotis | Marieta Peratikas | #Cyprus #LLPOLawFirm #MiCA #CASPLicense #CySEC #CryptoRegulation #Cyprus #BlockchainLaw #CryptoAssets #FinancialRegulation #MiCALicense #CryptoCompliance #DigitalAssets #RegTech #MarketsInCryptoAssets #CryptoNews #CyprusFinance #ESMA #CryptoUpdates #CryptoLaw #EuropeanUnion #FintechRegulation #CryptoServices

It's a surprise for many to learn of the large number of firms that are registered or licensed to offer crypto services. It's often coupled with a surprise when learning of household names that are operating without being registered or licensed. VASPnet, in collaboration with CCData, documented the regulatory footprint of the top centralised exchanges globally. While the US has most registered VASPs, service providers are prevalent in several European members states, with Lithuania leading the way. There are thousands of VASPs incorporating, servicing and operating from Africa 🌍and South America 🌎, delivering real value to those who need it the most. There's a growing regulatory-divide which leads to a void in consumer protections and greater AML/CFT risk. Learn more about our findings. Follow us at VASPnet, and hit up the comments below on where you see the next 🔥 jurisdiction for VASPs, and why. #vasp #FATF #regulation #cryptocompliance

ICYMI. Ongoing investment in leadership in the regulation and supervision of #crypto by #DFS.

The crypto industry is undergoing transformative changes worldwide. In the U.S., the SEC is intensifying oversight of crypto audits to improve transparency and investor protection. The European Union's MiCA regulations are setting clear guidelines for digital assets, harmonizing rules across member states. Meanwhile, in the Middle East, several nations are introducing new regulations to foster innovation while managing risks. These global regulatory advancements are reshaping the crypto landscape, enhancing market stability and accountability. Stay updated with the latest insights and developments in this evolving sector by following us for expert analysis. #CAC #CryptoAudit #Regulation #MiCA #SEC #MiddleEast #Innovation

Today - hours ago - we made public and announced DTCC Digital Launchpad (link below), a strategic stepping-stone in DTCC's digital assets roadmap. We also published our collaboration with the Japan Securities Clearing Corporation (JSCC) focused on Central Counterparties receiving collateral deposits across a diverse range of products (link below). Kudos to the team for all the hard work and dedication “By leveraging DTCC’s reusable blockchain-based infrastructure, we were able to jump-start our proof-of-concept, easily issuing digital assets such as cash, stocks, and bonds without needing to develop our own infrastructure. This allowed us to shift our focus to the initiative’s impact on our own business processes.” - JSCC President & CEO, Konuma Yasuyuki Blockchain technology is a network-effect technology. Building an ecosystem that brings the industry together to adopt, align and manage digital assets is a key pillar to unlock the value the technology brings to the table, and address common challenges and pain-points of the industry in the digital assets space DTCC Announcement: https://lnkd.in/eKwewsBn DTCC Digital Launchpad: https://lnkd.in/ejhVQ_Ca DTCC & JSCC Paper: https://lnkd.in/eG2tJNMj #blockchain #digitalassets #technews #tokenization #fintech #finser #ethereum #crypto #fintechnews #dtcc #jscc The Depository Trust & Clearing Corporation (DTCC) Japan Securities Clearing Corporation

🚀 Good morning, everyone, last week I was in Brussels for a couple of days. I had the pleasure to be invited by XReg Consulting, who hosted a round table with policy makers, academics and fellow industry leaders, to discuss the future of crypto regulations beyond MiCA: the regulation of decentralized finance (#DeFi). 🚀 As detailed as it, for several aspects, MiCA still needs to add clarity on elements not covered by the approved rules that will be enforced before the end of 2024. Decentralized finance is one of these important elements that still need to be addressed, possibly by the time the first iteration of MiCA will come out. Taking into consideration the path that it will take to the regulators, we have to start discussing the matter now. More conversations, like this one organized by XReg Consulting, are critical during these early days to ensure that all the risks and understood in advance, clients are protected, a new framework to be applied to #DeFi is implemented and will achieve the right outcomes. #Gate.MT #cryptoregulation

🚨 The CySEC - Cyprus Securities and Exchange Commission has officially launched a pre-assessment phase for Crypto-Asset Service Providers (CASPs) ahead of the full enforcement of the Markets in Crypto-Assets Regulation (MiCAR) on December 30, 2024. This early evaluation allows businesses to submit applications, policies, and procedures in advance, receiving informal feedback before the official deadlines. CASPs already authorized by CySEC and new applicants seeking authorization can now submit their forms through CySEC’s official website. However, submitting early does not guarantee expedited review, and applications will only be considered officially submitted once fees are paid and updated information is provided by the end of 2024. This pre-assessment phase is an opportunity for businesses to ensure compliance under MiCAR and address any potential issues before the regulation takes full effect. CySEC will prioritize applications from entities already registered under national regulations. #CySEC #MiCAR #CryptoRegulation #CASPs #CryptoCompliance #DigitalAssets #FinTech

Most of the world’s top centralised crypto exchanges (CEXs) are located in Europe, North America and Asia. 🇺🇸 The United States has registered the most in North America. 🇸🇬 Singapore supervises more than any country in the Asia Pacific region. 🇱🇹 Lithuania, 🇮🇹 Italy and 🇫🇷 France are the most popular jurisdictions in the EU. Read VASPnet’s latest report for more data insights from our collaboration with CCData 👉 https://bit.ly/4bLqxtU #VASP #cryptoregulation #VASPdata #virtualassets #CEX #CCData