The FMLC has submitted a response to the Consultation to draw attention to concerns with regards the definition of a “qualifying cryptoasset”.
The FMLC has drafted a response to the Consultation in the form of two complementary reports. Part I comprises comments on the classification of cryptoassets. Part II comprises comments in response to the section of the Consultation dealing with cryptoassets which fall within the E.U. regulatory perimeter.
In this paper, the FMLC explores the ways in which regulators and legislators have attempted to grapple with the many varieties of virtual currencies and in particular those which have arguably come to function as money for legal purposes. The definition of “virtual currencies” in the E.U.’s Fifth Money Laundering
Initial Coin Offerings (“ICOs”) typically use Distributed Ledger Technology (“DLT”) to offer transferable units (“coins” or “digital tokens”) that confer various rights on the holder of record. ICOs can be […]
Directive (EU) 2018/843 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (the “Fifth Anti-Money Laundering Directive” or “5MLD”) expands […]
At the annual Goodacre Securities Industry Conference Dr Perkins presented on the difficulties inherent in determining the legal character of virtual currencies and uncertainties this creates with regards to their […]
In July 2016, the FMLC published a paper in which it expressed the view that the virtual currencies which have achieved status as a medium of exchange within a significant user […]
An article co-written by FMLC CEO Joanna Perkins and FMLC Project Secretary Jennifer Enwezor on the legal uncertainties arising from the proliferation of virtual currencies was published in the November […]
Joanna Perkins travelled to Tokyo to meet with members of the Financial Law Board, the FMLC’s sister organisation in Japan. The presentation covers the FMLC’s outreach activities and research output […]