The Road to MiCAR continues – Danish view added
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Partner
Germany
As co-head of the global Finance & Financial Regulation Practice Groups and head of the German Finance & Financial Regulation Practice Group, I advise on national and international finance and capital markets law as well as on commercial and corporate law. I am also a member of the international steering group of our Financial Services Sector Group.
Partner
Germany
As partner in our Finance & Financial Regulation Group in Frankfurt, I advise our national and international clients on banking regulatory issues and finance law.
Partner
Denmark
Being passionate about technology and innovative solutions as much as financial regulation is the core of being a dedicated fintech lawyer and my first priority as a legal adviser.
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MiCAR will have an impact on all European countries. At Bird & Bird, we have the capabilities to advise spread throughout Europe, including Denmark. In our first update, we have added the Danish view.
Denmark has transposed the fifth Anti-Money Laundering Directive (AMLD5) and included providers of exchange services between virtual currencies and fiat currencies, providers of virtual wallets, providers of exchanges services between virtual currencies, providers of virtual currency transfers and issuers if virtual currencies.
Specific regulation of crypto-assets except for AML related regulation has not at this stage been introduced in Denmark. The Danish Financial Supervisory Authority (“Danish FSA”) has – also triggered by MiCAR - established a crypto-asset focus group with the aim of supporting an efficient supervision on the crypto-asset area. The focus group will be contributing with input on guidance and risk assessments and generally supporting the Danish FSA in this supervision of crypto-assets.
