ΠΕΡΙΓΡΑΦΗ

The 5th AML Directive was only the first step towards regulating crypto-assets and crypto-activities in terms of anti-money laundering.  The Directive only covers specific crypto assets under the “virtual currencies” term and limited crypto-activities. Each EU Member State transposed the Directive differently and developed its own regulatory regime for transactions associated with “virtual currencies” creating regulatory fragmentation and the scope for regulatory arbitrage.  The 5th AML Directive does not offer a harmonized regulatory framework for crypto-assets; indeed, it introduces a baseline framework with limited scope. 

This issue is addressed by the Markets in Crypto-Assets Regulation (MiCAR) (an upcoming EU Regulation expected to come into force in early 2023 and apply in 2024). MiCAR seeks to establish an EU legal framework for crypto assets and intends to expand and encourage the use of the distributed ledger technology (DLT), a transformative technology, in the financial industry by creating a comprehensive regulatory framework.  MiCAR aims to regulate most crypto-assets currently outside of regulatory scope and bring within scope numerous activities and services concerning crypto-assets expanding the notion of crypto-asset service providers. 

At the same time, the EU is considering and carrying out important regulatory developments regarding the AML regulation of crypto assets. The upcoming EU AML Package deals with AML matters in a more harmonized and enhanced way, offering advanced tools to authorities to combat AML risks and covering more AML areas. In this context, the EU AML Package enhances the regulation of crypto-assets for AML. The new AML package will oblige providers of services concerning crypto-assets, as expansively defined in MiCAR, to comply with AML requirements. Hence, the AML Package combined with MiCAR, is bound to create legal certainty and enhance security regarding the use of crypto assets, increase the AML checks in the crypto-asset space, promote innovation and fair competition in the European financial market and make sure that there is consumer protection and market integrity. 

This highly researched and experience-driven course explores the MiCAR proposal which will soon become a key component of EU financial regulation, and gives emphasis on what is being regulated and the key objectives under MiCAR.  Participants will understand what is and what is not a crypto-asset as well as the services covered under MiCAR.  Furthermore, they will understand who will be impacted by the EU’s flagship MiCA regulation and they will discuss MiCAR’s interaction with other regulatory frameworks. In this context, participants will learn about the AML package and how it affects crypto-asset activities and services.  The course is vital for professionals, practitioners, supervisors, policymakers, and financial institutions who wish to explore the development of the fast-evolving crypto market.

ΣΚΟΠΟΣ ΣΕΜΙΝΑΡΙΟΥ

By the end of the programme, participants will:

• be introduced to the MiCAR proposal
• be able to explain what is being regulated and what are the key objectives under MiCAR
• explore the key components of MiCAR relating to issuance of crypto-assets and crypto-asset services
• discuss the interaction of MiCAR with other regulatory frameworks (such as e-money and payment services laws, financial services laws, AML)
• understand the types of assets as defined by the MiCAR
• become familiar with Crypto-asset Policy and Developments beyond MiCAR

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

This training course is suitable for people from all kinds of backgrounds who are interested to explore the upcoming Markets in Crypto-assets regulation (MiCA).

 It is also ideal for:

• Compliance officers
• Lawyers
• Internal and external legal advisors
• Junior Lawyers and Graduates
• Law students. law researchers
• Professionals in the banking sector (Including neo and challenger banks)
• Financial advisors
• Managers of all levels including HR, Strategy, Innovation, IT, Technology, Digital Transformation Departments)
• Software Developers and IT Professionals
• Blockchain technologists and developers
• Innovation leaders and members of Innovations labs
• Government Agencies
• Corporate Administrators
• Regulators and Policymaker

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

Introduction to MiCaR

Objective: What is being regulated and what are the main objectives?

Crypto-assets

• What is covered?
• Types of crypto-assets under MICAR: unbacked crypto-assets, utility, tokens, and stablecoins
• What is not a crypto-asset despite being DLT-based
• Treatment of NFTs
• Treatment of crypto-assets covered under frameworks 

Services covered

• Offering/issuance of crypto-assets – requirements and exemptions depending on crypto-asset
• Crypto-asset services Authorisation and operating conditions for Crypto-Asset Service Providers (CASPs) 

Interaction of MiCAR with other regulatory frameworks

• E-money and payment services laws
• Financial services laws
• AML: Focus on AML Package 

 Crypto-asset Policy and Developments beyond MiCAR

• DLT-focused laws (EU and Domestic)
• MiCAR Impact on Fintech

Training Style 

The programme is designed to deliver theoretical knowledge mainly via live online discussions, supported by power-point presentations.

CPD Recognition 

This programme may be approved for up to 7 CPD units in Banking and Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.