About the Regulatory Blog and our contributors
The Regulatory Blog is an informal and up to date news and information service of key regulatory developments in our jurisdictions: the BVI, the Cayman Islands, Anguilla, Bermuda, Cyprus, and Luxembourg. We intend to include the latest financial services, anti-money laundering, sanctions and related developments within our remit.
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Streamlining licensing for Cyprus Investment Firms – MiFID II and MiCA
At present, Cyprus-based crypto exchanges that wish to provide services both in relation to spot crypto products and financial instruments such as crypto derivatives are subject to dual-licensing under the local AML legislation and the traditional investment services regime implementing EU Directive 2014/65/EU. The Cyprus Securities and Exchange Commission administers both regimes.
25 Apr 2024
ESMA releases third consultation package on MiCA
On 25 March 2024, the European Securities and Markets Authority released its third consultation package concerning the regulation of Markets in Crypto-Assets.
05 Apr 2024
Introducing the Harneys MiCA Assessment Tool: A guide to navigate EU crypto regulations
With the rules in EU Regulation 1114/2023 on markets in crypto-assets (MiCA) becoming applicable by the end of 2024, staying compliant is crucial for businesses operating within the European Union/the European Economic Area (EEA). To assist crypto-industry participants in understanding their regulatory obligations under MiCA, Harneys proudly presents its new MiCA Assessment Tool.
25 Mar 2024
ESMA consults on essential MiCA draft guidelines: Reverse solicitation and financial instruments
On 29 January 2024, the European Securities and Markets Authority published two consultation papers relating to draft guidelines proposed to be issued under Regulation 2023/1114 on markets in crypto-assets.
09 Feb 2024
CySEC Circular: EBA public consultation on Travel Rule Guidelines for AML/CFT in crypto-asset transfers
On 28 November 2023, the Cyprus Securities and Exchange Commission published circular 605 informing regulated entities about the European Banking Authority's public consultation on new money laundering and terrorist financing guidelines for preventing the abuse of funds and certain crypto-assets transfers.
19 Jan 2024
CySEC enhances concept of “good repute” under its CASP regime
On 3 November 2023, the Cyprus Securities and Exchange Commission (CySEC) issued Directive R.A.D 343/2023 (the CASP Amending Directive) which was published in the Cyprus Official Gazette. Through the CASP Amending Directive, CySEC amends its existing Directive on the Prevention and Combating of Money Laundering from Illegal Activities (Registry of Service Providers of Crypto Asset Service Providers) 2021 in a number of important respects.
08 Jan 2024
European Banking Authority releases MiCA-related consultation papers
On 20 October 2023, the European Banking Authority (EBA) released a comprehensive series of consultation papers pertaining to the Markets in Crypto-Assets Regulation (MiCA).
30 Nov 2023
MiCA Regulation: ESMA’s consultation packages and implementation milestones
On 5 October 2023, the European Securities and Markets Authority (ESMA) released the second consultation package related to the draft technical standards in connection with the Markets in Crypto-Assets Regulation (MiCA). This consultation includes five key areas where ESMA is seeking feedback on proposed rules.
30 Nov 2023
EU Council adopts DAC8: Another directive to strengthen the exchange of information in the field of taxation
On 17 October 2023, the Council of the European Union adopted Directive 2011/16/EU on administrative cooperation in the field of taxation, aimed at strengthening the cooperation and exchange of information between national tax authorities. This directive primarily focusses on crypto-assets and tax rulings for high-net-worth individuals. It also takes the opportunity to extend the scope of the categories of income subject to exchange of information.
31 Oct 2023