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"Since the Crypto Winter the regulation of crypto-assets is at the centre of policy action worldwide. This book offers a comprehensive guide to the EU's regulation of crypto-assets. In addition to a chapter-by-chapter guide to MiCA, the book covers the DLT Pilot Regulation, cybersecurity (DORA), anti-money laundering, and private law"--
List of contents
1. Introduction; 2. The setup of crypto-asset schemes; 3. crypto-asset regulation in the system of EU financial law; 4. Scope of MICA; 5. Prospectus rules under MICA and the prospectus regulation; 6. Product regulation of stablecoins (e-money tokens and asset-referenced tokens) in titles III and IV MiCA; 7. Regulation of crypto-asset service providers (Title V MiCA); 8. Crypto custody; 9. Crypto investment funds; 10. Market abuse and insider dealing rules (Title VI); 11. Supervision and supervisory cooperation; 12. The pilot regime for DLT market infrastructures; 13. Private law of crypto-assets; 14. AML/CTF Legislation on crypto-assets; 15. Cybersecurity and digital operational resilience in decentralised finance; 16. Remaining regulatory challenges in digital finance and crypto-assets after MICA.
About the author
Dirk Zetzsche is Professor in Financial Law and holds the ADA Chair in Financial Law (inclusive finance) at the Department of Law, Faculty of Law, Economics and Finance, University of Luxembourg. Professor Zetzsche co-leads Luxembourg's National Centre of Excellence in Research in Financial Technologies, the FinTech Working Group of the European Banking Institute, as well as the House of Sustainable Governance & Markets at the Faculty of Law, Economics and Finance, University of Luxembourg. He is one of the globally most well-known authors on Fintech regulation, a frequent consultant to regulators and parliaments, and a regular guest at all the leading universities and academic conferences across the Globe.Jannik Woxholth is a Senior Research Scientist at the ADA Chair in Financial Law (inclusive finance), Department of Law, Faculty of Law, Economics and Finance, University of Luxembourg. He combines, in a unique fashion, academic and practical experience in law, finance, and technology. He holds a Ph.D. on shareholders' agreements, was a junior partner with McKinsey & Company, and functions as an institutional technology investor.
Summary
This book provides a comprehensive guide to EU regulation of crypto-assets and FinTech regulation more broadly. The authors explain the need for regulation in an accessible manner and against the background of the instances now dubbed the 'Crypto Winter', when millions of crypto investors lost billions of value due to technical malfunctions, misconduct, and fraud. They combine an in-depth perspective on the bespoke regulations of crypto-assets provided in the EU's Markets in Crypto-Assets Regulation (MiCA) and Pilot Regulation with the revised EU's AML/CTF legislation, operational risk regulation (DORA), and private law. They conclude by analysing how the combined new EU financial regulation addresses the causes of the Crypto Winter, and which risks remain despite the plethora of new policy action. Co-written by a world-leading FinTech expert, the book will be a go-to source for researchers and practitioners and a crucial guide for those navigating the field of crypto-assets.
Foreword
The first comprehensive guide to EU regulation of crypto-assets, presenting an in-depth view on MiCA and relevant accompanying legislation.
