Aer Compliance’s Post

🚀 MiCA Regulation: A New Era for Crypto Assets in the EU 🚀   Are you ready for the next big shift in crypto regulation? ESMA has unveiled the final package of regulatory technical standards and guidelines as we gear up for the full implementation of the Markets in Crypto Assets Regulation (MiCA) on December 30, 2024.   Key highlights include:   🔍 Market Abuse Prevention: Implementation of new systems to detect and address market abuse in crypto assets.   📜 Reverse Solicitation: Clear guidelines on the narrow application of this exemption to prevent circumvention of MiCA requirements.   📊 Suitability Assessments: Rules aligned with MiFID II to ensure crypto-asset service providers offer suitable advice and investment decisions.   🔒 Transfer Services: Enhanced investor protection for clients transferring crypto assets.   📑 Crypto-Asset Qualification: Conditions and criteria to clarify the status of crypto assets as financial instruments.   🛡️ System and Security Protocols: Guidelines for maintaining robust systems and security access protocols.   Stay informed and prepared as we navigate this transformative period in the crypto industry! What are your thoughts on these new regulations? Let's discuss in the comments!   #CryptoRegulation #MiCA #ESMA #CryptoAssets #InvestorProtection

𝐄𝐒𝐌𝐀'𝐬 𝐓𝐨𝐮𝐠𝐡 𝐒𝐭𝐚𝐧𝐜𝐞 𝐨𝐧 𝐌𝐢𝐂𝐀𝐑 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬 European Securities and Markets Authority (ESMA) slams certain #crypto firms. #MiCAR broker applications under scrutiny. The crypto industry is on high alert as #ESMA issues a stern warning to international crypto businesses seeking broker licenses under the upcoming MiCAR framework. The regulator's emphasis on transparency, fair access, and robust investor protection signals a new era of stringent oversight for the crypto sector. As MiCAR looms, crypto firms face unprecedented challenges to adapt their compliance strategies and navigate the evolving market landscape. Read more here: https://lnkd.in/d4RmyczD #GTG #fintech #lawyers #Malta #CryptoRegulation #CryptoCompliance Ian Gauci l Cherise Abela Grech

The UK's FCA plans to ban public offerings of crypto assets - The new legislation is expected to take effect in 2026. - The legislation will likely allow exceptions for crypto asset trading platforms and offers that meet specific criteria. - The FCA is now seeking industry input on market admission standards, disclosures, and a market abuse regime. ironic given that earlier this year the space is championing UK's regulatory progressiveness

How the new presidential regime can impact the crypto industry: 1) Carrot and stick SEC - Historically the SEC had invited crypto businesses to engage with them. What ended up happening was that many of these businesses who did engage, ended up receiving fines and suit filings. This has made it very challenging to operate in the US, with many folks just making the decision to throw up their hands and leave the US to operate offshore... driving talent abroad. 2) Friendlier regulatory clarity - I think there are already folks in the SEC who are working hard to get a grasp on crypto, and how nuances of the technology apply to asset management/trading businesses. The data I would give for this are is the SPBD license/guidelines which were created in 2021 (I actually think the SPBD license shows regulators are/were working to create thoughtful regs). My hope is that this amplifies. 3) Crypto derivatives in the US Virtually the entire crypto derivatives market is offshore. This crypto derivatives market is by far more liquid than spot markets. With increasing regulatory clarity, we could see some of this come onshore. 4) Doors to DeFi opening up Operating DeFi protocols in the US has been incredibly challenging. Most protocols are "geo-fenced" (they block restricted IP addresses from accessing the platform, like IPs from the USA).

🇪🇺As the December 30, 2024, MiCA deadline approaches, both regulatory bodies and crypto-asset service providers are finalising preparations to operate under the new regulatory framework.🇪🇺 While certain provisions, particularly those concerning stablecoins, have been in effect since June 30, 2024, the majority of the regulation will become applicable on December 30, 2024. In anticipation of MiCA's full implementation, industry participants have been adjusting their operations to ensure compliance. For instance, Coinbase announced plans to delist certain stablecoins in the European Economic Area by the end of the year to align with MiCA's requirements. This has also been observed with other CASPs operating in the region. The European Supervisory Authorities, including ESMA and EBA have been actively preparing for MiCA's full implementation, releasing the final set of policy documents to facilitate a smooth transition. These activities have included releasing final guidelines and templates to support applicable businesses in this regulatory transition. With MiCA being top of mind for crypto asset firms right now, we’re supporting institutions by offering a 25% discount on our in depth MiCA course with the code "christmas" on checkout. (Link in the comments)!

In October 2022, the Financial Stability Board (FSB) published findings of a survey of 24 FSB member entities, including 23 national authorities and the European Commission, along with 24 non-member jurisdictions represented in the FSB’s Regional Consultative Groups (RCGs). 15 FSB members and 10 RCG jurisdictions indicated they had implemented or had plans to enhance crypto regulation. Among the 70 cryptocurrency-related regulations issued by global supervisors, 49 are amendments to existing regulations, and 21 being entirely new regulation.

The UK FCA outlines its early plans for crypto regulation! 📜 A roadmap targets stablecoins, crypto trading, and market abuse rules—balancing risk and innovation. Global standards play a key role as feedback pours in. 🌐 #CryptoRegulation #UK #FCA #DigitalAssets https://lnkd.in/erApvpVS

MiCA goes live in Europe as the crypto regulatory framework starts with stablecoins https://lnkd.in/gEat36R4 #MiCARegulation #EUCryptoFramework #StablecoinOversight #TokenIssuanceRules #CryptoLicensing #DigitalAssetCompliance #BlockchainRegulation

🚀 Optimize Your Crypto Compliance Program with Merkle Science! 🚀 Given the significant shift in regulatory landscape in the USA, this exclusive webinar will dive into critical global regulatory trends for 2024, explore their impact on the U.S. environment, and provide insights into the enforcement priorities from key regulatory bodies such as the SEC, CFTC, and FinCEN. Merkle Science has a long standing experience in the private sector making it your ideal partner to navigate this complex terrain. Here's why we're the go-to solution for leading exchanges globally: 1️⃣ Compass (Transaction Monitoring): • Slashes alerts by 20% with our advanced taxonomy and rule engine • Cuts false positives by up to 50% • Boosts accuracy in detecting suspicious activities • Provides real-time sanction coverage up to 10 days faster than industry standard 2️⃣ Tracker (Enhanced Due Diligence): • Speeds up EDD process by 80% • Simplifies cross-chain investigations • Delivers comprehensive risk profiles for crypto entities 3️⃣ Token Risk Assessment: • Evaluates multi-blockchain token risk profiles • Reduces token onboarding from weeks to days • Enables informed decision-making for new digital assets Register now to stay ahead of the curve! Ready to optimize your compliance program? Let's connect! #MerkleScience #ComplianceMasterclass #Sanctions #BestOfClassRuleEngine

The keynote address delivered by the Director of Financial Regulation (Policy and Risk) considers the Markets in Crypto Assets Regulation (MiCA) and core aspects for authorization, supervisory expectations, and how it would affect virtual asset service providers (VASP). Click here to read an outline of the address and key takeaways for innovators to consider when engaging with the CBI. #crypto