With new rules under Regulation (EU) 2023/1114 on Markets in Crypto-Assets (Markets in Crypto-Assets Regulation – MiCA), virtual asset service providers operating in Europe are looking for favorable jurisdictions to establish their EU operations and the opportunity to passport their MiCA license in all EU Member States.
The analysis of the national transitional regimes plays
On 20 April 2023, the European Parliament adopted Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA). The European Council approved MiCA on 16 May 2023; it was published in the Official Journal of the European Union on 9 June 2023.
A limited number of rules set out in MiCA are already in force, but most
Greenberg Traurig is mentioned in client Riot Platform’s press release announcing their acquisition of Block Mining, a vertically integrated Bitcoin miner. The acquisition expands the company’s geographic footprint and operational capacity.
Click here to read the full press release, “Riot Announces the Acquisition of Block Mining – Expands Riot’s Total Potential Power Capacity To 2
May 23, 2024, the SEC approved the first investment products linked to the price of Ether for listing and trading on three exchanges, following approval of the first Bitcoin ETFs earlier this year. Ether, the cryptocurrency tied to the Ethereum blockchain, is the next most widely held cryptocurrency after Bitcoin. ETFs, or exchange traded funds, are
On Jan. 25, 2024, the Hawaii Department of Commerce and Consumer Affairs Division of Financial Institutions (DFI) and the Hawaii Technology Development Corporation (collectively, the “Agencies”) jointly issued a press release summarizing their findings on the proper regulatory framework for companies specializing in digital currency activity (Crypto Companies)—concluding that the DFI will not apply the
U.S. Sen. Cynthia Lummis (R-WY) and Reps. Wiley Nickel (D-NC) and Mike Flood (R-NE) are working to overturn a controversial Securities and Exchange Commission (SEC) staff accounting bulletin, SAB 121, that places restrictions on the custody of digital assets by public companies, including banks and trust companies, on behalf of their customers. On Feb.
On Jan. 16, 2024, the U.S. Treasury Department and the Internal Revenue Service (IRS) announced the delay of the requirement for persons engaged in a trade or businesses to report information related to the receipt of digital assets on IRS Form 8300, Report of Cash Payments Over 10,000 Received in a Trade or Business.
Pursuant
On Oct. 13, 2023, California Governor Gavin Newsom signed CA AB39, the Digital Financial Assets Law (DFAL), which is the first comprehensive framework to regulate the digital asset market in the state of California. As such, California joins New York and Louisiana as the third state to have a virtual currency specific regulatory licensing
On Oct. 23, 2023, FinCEN published an NPRM that identifies international CVC mixing as “a class of transactions of primary money laundering concern,” and finds that imposing additional recordkeeping and reporting requirements on “covered financial institutions” would help mitigate the risks such transactions pose. The NPRM’s proposed reporting requirements would be in addition to any
