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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New EBA regulations strengthen governance, conflict management and remuneration policies for crypto assets
On 6 June 2024, the European Banking Authority enhanced the regulatory framework for crypto assets by publishing a package with three new regulatory products under the Markets in Crypto-Assets Regulation. These products focus on governance, conflicts of interest and remuneration aiming to create a transparent, secure, and well-regulated market in crypto assets.
03 Jul 2024
Cayman Islands regulatory framework for Virtual Asset Service Providers: Registration and Licensing Guidelines
The Cayman Islands Monetary Authority (CIMA) released its regulatory policy establishing criteria for approving the registration or licensing of virtual asset service providers (VASPs) as per the Virtual Asset (Service Providers) Act (VASP Act). This policy has been published in the official gazette on 15 May 2024.
30 May 2024
EBA publishes final set draft technical standards for asset-referenced tokens under MiCAR
On 7 May 2024, the European Banking Authority released three sets of final draft regulatory technical standards and one set of final draft implementing technical standards relating to asset-referenced tokens under the Markets in Crypto-assets Regulation.
28 May 2024
ESMA Report: Understanding crypto asset markets and implications for EU regulation
On 10 April 2024, the European Securities and Markets Authority published an extensive article “Crypto assets: Market structures and EU relevance” offering a comprehensive analysis of trends within secondary markets for crypto assets.
07 May 2024
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
Harneys BVI Regulatory team facilitates approval for a leading cryptocurrency market maker under VASPA
Our BVI Regulatory team recently advised Portofino Technologies Global, a prominent cryptocurrency market maker, in successfully securing approval from the Financial Services Commission under the Virtual Assets Service Providers Act.
11 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
Comprehensive guide to crypto assets in trusts and foundations
Partner Joshua Mangeot and Associate Myles Chingara contributed the BVI chapter in the upcoming Crypto Assets in Trusts and Foundations comprehensive guide, co-published by Globe Law and Business and STEP.
01 Mar 2024
New era of crypto regulations: MiCA and travel rule regulations published in the Official Journal, MiCA overview guide included
On 9 June 2023, EU Regulation 2023/1114 on Markets in Crypto Assets (MiCA) and EU Regulation 2023/1113 on information accompanying transfers of funds and certain crypto-assets (Travel Rule Regulation) were published in the Official Journal of the European Union.
13 Jun 2023