Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought … Continue Reading
On 16 February 2023, the Financial Stability Board (FSB) published a report on the financial stability risks of decentralised finance (DeFi). The report describes DeFi as an umbrella term commonly used to describe a variety of services in crypto-asset markets that are intended to replicate some functions of the traditional financial system by seemingly disintermediating … Continue Reading
On 14 February 2023, the European Systemic Risk Board (ESRB) published a report on advancing macroprudential tools for cyber resilience. The report has been published given the recent geopolitical backdrop of heightened cyber risk, and the need to boost cyber resilience. The report builds on previous work by the ESRB to prevent and mitigate risks … Continue Reading
On 8 February 2023, the European Banking Authority (EBA) published the keynote speech by Jose Manuel Campa at the AFORE’s 7th annual conference on fintech and regulation. In his speech, Mr Campa acknowledges the progress made, such as the Digital Operational Resilience Act and the Markets in Crypto-assets Regulation (MiCA). Furthermore, the proposal for the … Continue Reading
Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought … Continue Reading
On 12 January 2023, the Joint Committee of the European Supervisory Authorities (ESAs) published a thematic report on national financial education initiatives on digitalization, with a focus on cybersecurity, scams and fraud. The report is based on an analysis of the joint ESA’s thematic repository of 127 national financial education initiatives on digitalization with a … Continue Reading
Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought … Continue Reading
On 4 January 2023 the European Banking Authority (EBA) published a letter from the European Commission (“the Commission”) to the European Supervisory Authorities (ESAs) requesting advice on designation criteria and fees for the oversight framework for critical third-party service providers set out under Regulation (EU) 2022/2554 on digital operational resilience for the financial sector (DORA). … Continue Reading
On 4 January 2023, the European Commission published a letter it had sent to the European Banking Authority (EBA) being a provisional request for technical advice on certain delegated acts that the Commission intends to adopt under the Regulation on Markets in Crypto-Assets (MiCA). The request for advice concerns delegated acts on certain criteria for … Continue Reading
The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, met on 16 December to endorse its finalised prudential standard on banks’ cryptoasset exposures and the Committee’s work programme and strategic priorities for 2023-24. The standard provides that unbacked cryptoassets and stablecoins with ineffective … Continue Reading
Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought them … Continue Reading
On 28 November 2022, the Council of the European Union adopted the Digital Operational Resilience Act (DORA). Now that the DORA proposal is formally adopted, aspects that require national transposition will be passed into law by each EU Member State. At the same time, the relevant European Supervisory Authorities, such as the European Banking Authority, … Continue Reading
Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought … Continue Reading
On 17 October 2022, the Financial Stability Board (FSB) published a consultative document in which it sets out proposed recommendations to address impediments to achieving greater convergence in cyber incident reporting (CIR) with a view to promoting better practices, while recognising that a one-size-fits-all approach is not feasible or preferable. The FSB’s proposals include: Recommendations … Continue Reading
On 11 October 2022, the Financial Stability Board (FSB) published a consultative report which sets out a number of proposed recommendations to promote the consistency and comprehensiveness of regulatory, supervisory and oversight approaches to crypto-asset activities and markets intended to strengthen international cooperation, coordination and information sharing. The recommendations apply to any type of crypto-asset … Continue Reading
On 27 September 2022, the European Securities and Markets Authority (ESMA) published a report on the Regulation on a pilot regime for market infrastructures based on distributed ledger technology (DLT Pilot). The DLT Pilot will start applying on 23 March 2023. The DLT Pilot includes a recital requiring ESMA to assess whether the regulatory technical … Continue Reading
We have published a new briefing note, Regulating crypto-assets in Europe: Practical guide to MiCA. The briefing note provides a high-level overview of some of the key requirements that the new legislation will impose upon issuers of crypto-assets and crypto-asset service providers and sets out some practical points for consideration for firms active in crypto-asset … Continue Reading
Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought … Continue Reading
On 14 July 2022, the International Organization of Securities Commissions (IOSCO) issued a report on the use of innovation facilitators in growth and emerging markets. The report covers three types of innovation facilitators (IFs): innovation hubs, regulatory sandboxes, and regulatory accelerators. Chapter 1 of the report covers definitions and the risks and opportunities posed by … Continue Reading
Every month we provide the Global Blockchain Business Council’s Post-Trade Distributed Ledger group with a global regulatory FinTech updater, the latest version of which can be found here. Post Trade Distributed Ledger (PTDL) Group is composed of over 40 prominent market infrastructure stakeholders whose shared vision of the use of distributed ledger technology has brought them … Continue Reading
On 13 July 2022, the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) published a report containing final guidance on the application of the Principles for Financial Market Infrastructures (PFMIs) to stablecoin arrangements (SAs) that are considered systemically important financial market infrastructures (FMIs), including the entities integral to … Continue Reading
On 11 July 2022, the European Securities and Markets Authority (ESMA) published a consultation paper on draft guidelines on standard forms, formats and templates to apply for permission to operate a distributed ledger technology (DLT) market infrastructure. Regulation No 858/2022 on a pilot regime for market infrastructures based on distributed ledger technology (DLTR) introduces three … Continue Reading
Germany further broadens the scope of its new legislative regime for electronic securities: On 18 June 2022, the German Regulation on Crypto Fund Units (Verordnung über Kryptofondsanteile – KryptoFAV; link) entered into force. The KryptoFAV introduces the possibility to issue units in common funds (Sondervermögen) via decentralised crypto securities registers which are typically based on distributed ledger … Continue Reading
