Markets in Crypto-Assets Regulation and Payment Services Legislation

• Jurisdiction: European Union
• Year: 2024

Speaker

Andrea Minto holds prominent academic and consulting roles in the field of financial law and regulation. Currently serving as the Jean Monnet Professor at Ca’ Foscari University of Venice and Full Professor at the University of Stavanger - Business School, he specializes in Digitalisation in EU Financial Studies (EUDIFIN). His expertise extends to decentralized finance, particularly advising the German Central Bank on liquidity pools' legal aspects. At the Bank for International Settlements, Minto explores the implications of Central Bank Digital Currencies (CBDCs) on anti-money laundering efforts.

Beyond academia, he contributes in Annunziata&Conso Law Firm in Milan and previously as an Associate at CHIOMENTI Law Firm. Minto's consultancy spans various financial supervisors and international organizations, including the European Banking Authority and DeNederlandscheBank, highlighting his global influence in financial policy and regulatory frameworks. His contributions are further underscored by multiple prestigious fellowships and grants, reflecting his commitment to advancing financial studies and regulations globally.

Topic

Prof. Andrea Minto discusses the regulatory landscape of crypto-assets within the European Union, focusing on the Markets in Crypto-Assets Regulation (MiCAR) and its interaction with payment services legislation. MiCAR aims to establish a comprehensive framework for regulating crypto-assets, defining them broadly as digital representations of value or rights that utilize Distributed Ledger Technology (DLT). The regulation categorizes crypto-assets into three main types: electronic money tokens, asset-referenced tokens, and other tokens intended for goods or services. It sets out requirements for issuers, service providers, and trading platforms, emphasizing transparency, consumer protection, and market integrity.

A key aspect of MiCAR is its relationship with existing EU financial services laws, ensuring consistent regulation across member states while accommodating technological advancements. This includes addressing overlaps with payment services under the Payment Services Directive (PSD2), particularly concerning electronic money...