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ECON discusses amendments on MiCA, DORA and DLTR

June 23, 2021

On 16 June 2021, the European Parliament Committee on Economic and Monetary Affairs (ECON) held a meeting in which it discussed the main legislative proposals under the European Commission (Commission) Digital Finance Strategy.

Texas Department of Banking allows state banks to provide virtual currency custody services

June 22, 2021

The Texas Department of Banking announced on June 10, 2021 that Texas-chartered banks may provide virtual currency custody services.

Basel Committee consults on prudential treatment of cryptoasset exposures

June 11, 2021

On 10 June 2021, the Basel Committee on Banking Supervision (BCBS) launched a public consultation on the prudential treatment of cryptoasset exposures by credit institutions.

Anatomy of an NFT

April 17, 2021

Once relegated to the fringe of the crypto/FinTech communities, non-fungible tokens (NFTs) have recently exploded to the forefront of modern pop culture and are taking on an ever increasing number of forms—from collectible digital kittens, to sport highlights, to music albums, to pieces of art auctioned off by Christie's for US$69.3 million.

Cryptocurrency users beware: IRS targets unknown taxpayers via John Doe summons

April 17, 2021

Earlier this month a federal court in the District of Massachusetts granted an order allowing the Internal Revenue Service (IRS) to serve a John Doe summons on a digital currency exchanger.

Blockchain law: Cryptocurrency offers no escape from international sanctions

April 16, 2021

Recent US enforcement activity illustrates how the government is taking strong action against persons involved with misuses of cryptocurrency in order to meet this threat and deter others.

Member States consider amendments to MiCA proposal

April 07, 2021

On 18 March 2021, the Portuguese Presidency of the Council hosted a meeting of a working group where representatives of Member States continued discussions over the proposed regulation on markets in crypto-assets (MiCA).

Canadian securities regulators issue guidance on disclosure by crypto assets issuers

March 22, 2021

The Canadian securities regulators have published guidance on continuous disclosure obligations for reporting issuers dealing in digital assets, including cryptocurrencies, tokens, stablecoins, and other digital assets relying on blockchain technology (crypto assets).

China: pricing disputed Bitcoin trades – when are they enforceable?

March 18, 2021

Here we consider in what circumstances valuations in relation to Bitcoin will be upheld by Chinese courts if the parties to a transaction are in dispute about the sum payable or the quantification of money due.

ECON Rapporteur publishes draft report on DLT market infrastructures pilot regime

March 12, 2021

On 12 March 2021, European Parliament rapporteur Johan van Overtveldt (BE, ECR) published his draft report on the European Commission’s proposal for a Regulation on a pilot regime for market infrastructures based on distributed ledger technology (DLT) [link].