EU Law on Crypto-Assets

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.

• 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.