Press release
Johnathan Hanks: "EU regulations on cryptocurrencies could be implemented by 2025"
Given the reality of cryptocurrencies, the European Commission has issued three draft regulations.The first concerns the part of active cryptocurrencies. The second aims at a pilot regime for market infrastructures based on distributed register technology (blockchain) and the third aims at digital operational resilience. The first regulation is also the most important and aims to regulate the microstructure of this market regarding cryptocurrencies. The microstructure of a market means the aspects regarding the protection of investors, issuers, products and infrastructure, respectively who deals with trading and clearing-settlement. Johnathan Hanks said that this regulation, which deals with consumer protection or risk management issues, has provided a set of rules and principles regarding transparency requirements for these markets, authorization and operating rules for issuers of such tokens and cryptocurrency service providers, the integrity of this market and the abuse of the market, said Johnathan Hanks - Legal Assistant at APAG Audit AG, during Financial Forum 2023. This regulation will have a series of technical standards that will be developed later. This regulation lays down rules on pre- and post-trade transparency, aspects of what the prospectus for cryptocurrencies should contain. Of course, if we talk about cryptocurrencies, blockchain technology, we have risks in the area of information technology. And then the European Commission issued this new regulation, which is in the draft phase, on digital operational resilience. This regulation aims at better managing the operational risks in the IT area in order to give IT systems used by issuers or service providers for crypto assets a certain high level of resilience of the systems used.The application of the regulation will not be done only by ASF. Some of these cryptocurrencies are seen as financial assets, others are similar to electronic currencies. For this reason, these markets will be monitored in the future, both by the ASF and by the BNR, depending on the competencies of each authority, said Mr Hanks. We are at the beginning of the road, regarding this legislation a completion horizon is forecasted somewhere in 2025 to enter into force. But we also see how quickly the other delegated regulations are issued because they cannot release a direct regulation without waiting for all the other adjacent technical standards to see all the functional gear.
APAG Audit AG
Dorfstrasse 38 Baar
+442039962120
info@apag-audit.org
APAG Audit AG is a Law firm, specialising in various legal fields. Operating from 1998 with a HQ in Baar, Switzerland
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Johnathan Hanks: "EU regulations on cryptocurrencies could be implemented by 2025" here
News-ID: 2988835 • Views: …
More Releases from APAG Audit AG
Leah Garrett : Nine out of ten organizations reported at least one cyber inciden …
Nine out of ten organizations (91 percent) reported at least one cyber incident or breach last year, according to APAG Audit AG's Survey, and more than a third (38 percent) between six and ten events. The study also points out that the frequency of cyber incidents varies depending on the level of cyber maturity of the organization, more low cyber maturity organizations experiencing over ten events (21 percent) compared to…
APAG Audit AG warns that draft laws will hurt consumers and the economy
APAG Audit AG underlines the negative impact that would spread to consumers and the national economy in case of the approval of the draft laws regarding the conversion of the payment currency from the credit agreement to the historical exchange plus maximum 20 percent, capping the interest, limiting the enforceable title of the contracts and regarding the release of the debt at the real price of the assignment and the…
Robert Benny, Cryptocurrency Law Expert: "Blockchain technology will have the sa …
Blockchain technology is, without a doubt, one of the inventions that will change the world. Known especially in connection with cryptocurrencies, it is important to know that its use is not limited.
Once the full potential of this technology is realized, it will have the same impact as the internet did over 30 years ago, according to Robert Benny, Senior Legal Assistant for APAG Audit AG, one of the speakers at…
More Releases for Hanks
Collision Sensors Market Size By 2027 |RR Donnelley; Valassis; Dai Nippon; Harte …
The Global Collision Sensors Market Report 2022-2027 provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, restraints, and competitive landscape that are playing a substantial role in the Collision Sensors market. The increasing consumer demand & spending on the Collision Sensors market is expected to drive enormous growth over the forecast years. The comprehensive Collision Sensors Market Report will help clients to…
Direct Mail Advertising Market is Going to Boom with RR Donnelley, Valassis, Dai …
The ‘ Direct Mail Advertising market’ research report added by Report Ocean, is an in-depth analysis of the latest developments, market size, status, upcoming technologies, industry drivers, challenges, regulatory policies, with key company profiles and strategies of players. The research study provides market overview; Direct Mail Advertising derived key statistics, based on the market status of the manufacturers and is a valuable source of guidance and direction for companies and…
Direct Marketing Services Market to Witness Huge Growth by 2026 | Harte-Hanks Di …
Global Direct Marketing Services Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread) is latest research study released by HTF MI evaluating the market, highlighting opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support. The study provides information on market trends and development, drivers, capacities, technologies, and on the changing investment structure of the Global Direct…
Direct Marketing Strategy Market Competitive Analysis 2026: Rapp, Epsilon, Wunde …
The Direct Marketing Strategy Market Report includes a brief description of these patterns that will help organizations in your organization recognize the market and develop Strategy for business development. This research report analyzes market indicators, industry share, development, key areas, CAGR and key drivers.
The Global Direct Marketing Strategy Market Report focuses on the market based on a survey of the current situation of the global direct marketing strategy industry. This…
Direct Marketing Solutions 2019 Global Market Key Players – Rapp, Epsilon, Wun …
Direct Marketing Solutions Market 2019
Wiseguyreports.Com Adds “Direct Marketing Solutions – Global Market Growth, Opportunities, Analysis Of Top Key Players And Forecast To 2025” To Its Research Database.
Description:
In 2018, the global Direct Marketing Solutions market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025.
This report focuses on the global Direct Marketing Solutions…
2019 Direct Marketing Services Market | By Leading Players: Rapp , Epsilon , Wun …
Global Direct Marketing Services report focuses on the status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Direct Marketing Services development in United States, Europe and China
.
This report studies the direct marketing services market, direct marketing is a form of advertising which allows businesses and nonprofit organizations to communicate directly to customers through a variety of media.
Direct marketing services is mainly…
