MiCA Roundtable Berlin

[vc_row row_height_percent=”50″ back_color=”color-wayh” back_image=”131680″ kburns=”yes” overlay_color=”color-wayh” overlay_alpha=”50″ gutter_size=”3″ column_width_percent=”100″ shift_y=”0″ z_index=”0″ uncode_shortcode_id=”148423″ back_color_type=”uncode-palette” overlay_color_type=”uncode-palette” shape_dividers=””][vc_column column_width_percent=”100″ gutter_size=”3″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”0″ mobile_width=”0″ width=”1/1″ mobile_height=”340″][/vc_column][/vc_row][vc_row row_height_percent=”0″ override_padding=”yes” h_padding=”2″ top_padding=”2″ bottom_padding=”3″ overlay_alpha=”50″ gutter_size=”3″ column_width_percent=”100″ shift_y=”0″ z_index=”0″][vc_column column_width_percent=”100″ gutter_size=”3″ override_padding=”yes” column_padding=”3″ back_color=”color-xsdn” overlay_alpha=”50″ shift_x=”0″ shift_y=”-5″ shift_y_fixed=”yes” shift_y_down=”0″ z_index=”0″ medium_width=”0″ mobile_width=”0″ width=”1/1″][vc_row_inner row_inner_height_percent=”0″ overlay_alpha=”50″ equal_height=”yes” gutter_size=”0″ shift_y=”0″ limit_content=””][vc_column_inner column_width_percent=”100″ position_vertical=”middle” align_horizontal=”align_right” gutter_size=”3″ override_padding=”yes” column_padding=”2″ overlay_alpha=”50″ border_color=”color-gyho” border_style=”solid” shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”2″ align_mobile=”align_center_mobile” mobile_width=”0″ width=”3/12″ css=”.vc_custom_1495102345881{border-right-width: 1px !important;}”][vc_custom_heading heading_semantic=”h6″ text_size=”fontsize-160000″ text_transform=”uppercase” text_space=”fontspace-135905″ uncode_shortcode_id=”209126″]Berlin[/vc_custom_heading][/vc_column_inner][vc_column_inner column_width_percent=”100″ position_vertical=”middle” gutter_size=”3″ override_padding=”yes” column_padding=”2″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”6″ align_mobile=”align_center_mobile” mobile_width=”0″ width=”9/12″][vc_custom_heading heading_semantic=”h3″ text_size=”fontsize-155944″ uncode_shortcode_id=”182262″]Shaping the Future of Crypto Regulation[/vc_custom_heading][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row row_height_percent=”0″ override_padding=”yes” h_padding=”2″ top_padding=”5″ bottom_padding=”5″ overlay_alpha=”50″ gutter_size=”4″ column_width_percent=”100″ shift_y=”0″ z_index=”0″ el_class=”inverted-device-order”][vc_column column_width_percent=”100″ position_horizontal=”left” position_vertical=”middle” gutter_size=”3″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”4″ mobile_width=”0″ width=”1/2″][vc_custom_heading text_color=”color-jevc” heading_semantic=”h6″ text_size=”fontsize-160000″ text_transform=”uppercase” text_space=”fontspace-135905″ uncode_shortcode_id=”207872″ text_color_type=”uncode-palette”]April 23 2024, Berlin[/vc_custom_heading][vc_custom_heading heading_semantic=”h3″ text_size=”fontsize-155944″ subheading=”The second gathering in this series took place on April 23, 2024, in Berlin, in collaboration with Berlin Partner, EUBOF, and INATBA. This roundtable featured expert insights on various critical topics, aiming to foster a clearer understanding and practical approaches to the MiCA framework.” uncode_shortcode_id=”746916″]Insights from the MiCA Roundtable in Berlin[/vc_custom_heading][vc_button border_animation=”btn-ripple-out” border_width=”0″ uncode_shortcode_id=”169863″ link=”url:http%3A%2F%2Fvalidvent.com%2Fwp-content%2Fuploads%2F2024%2F05%2FMiCAR-Roundtables-Expert-Series-_Berlin-_-Consolidated-report-1.pdf”]Download Report[/vc_button][vc_separator sep_color=”,Default”][/vc_column][vc_column column_width_percent=”100″ gutter_size=”3″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”4″ mobile_width=”0″ width=”1/2″ el_class=”inverted-device-order”][vc_single_image media=”131680″ media_width_percent=”100″ alignment=”right” uncode_shortcode_id=”906411″][/vc_column][/vc_row][vc_row row_height_percent=”58″ override_padding=”yes” h_padding=”2″ top_padding=”5″ bottom_padding=”5″ back_color=”color-wayh” back_image=”131759″ parallax=”yes” overlay_color=”color-wayh” overlay_alpha=”50″ gutter_size=”3″ column_width_percent=”100″ shift_y=”0″ z_index=”2″ bottom_divider=”step_2_3″ uncode_shortcode_id=”961997″ back_color_type=”uncode-palette” overlay_color_type=”uncode-palette”][vc_column column_width_use_pixel=”yes” position_vertical=”middle” align_horizontal=”align_center” gutter_size=”3″ style=”dark” overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ shift_y_down_fixed=”yes” z_index=”0″ medium_width=”0″ align_mobile=”align_center_mobile” mobile_width=”0″ width=”1/1″ column_width_pixel=”1000″][vc_icon icon=”fa fa-play” background_style=”fa-rounded” size=”fa-3x” icon_automatic=”yes” shadow=”yes” linked_title=”yes” css_animation=”zoom-out” animation_delay=”200″ media_lightbox=”131768″ uncode_shortcode_id=”208148″ link=”url:https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DxJYgKmvlszw|target:_blank”][/vc_icon][/vc_column][/vc_row][vc_row row_height_percent=”0″ override_padding=”yes” h_padding=”2″ top_padding=”5″ bottom_padding=”5″ overlay_alpha=”50″ gutter_size=”4″ column_width_percent=”100″ shift_y=”0″ z_index=”0″ top_divider=”gradient” uncode_shortcode_id=”915350″][vc_column column_width_percent=”100″ gutter_size=”3″ font_family=”font-955596″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”0″ mobile_width=”0″ css_animation=”alpha-anim” animation_speed=”1000″ width=”4/12″ uncode_shortcode_id=”153526″][vc_custom_heading heading_semantic=”h3″ text_font=”font-955596″ text_size=”fontsize-155944″ text_weight=”500″ uncode_shortcode_id=”202121″]Key Highlights[/vc_custom_heading][vc_column_text uncode_shortcode_id=”187440″][/vc_column_text][/vc_column][vc_column width=”1/12″][/vc_column][vc_column column_width_percent=”100″ gutter_size=”2″ font_family=”font-955596″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”0″ mobile_width=”0″ css_animation=”alpha-anim” animation_speed=”1000″ width=”7/12″ uncode_shortcode_id=”876318″][vc_accordion typography=”advanced” sign=”plus” gutter_simple=”1″ no_h_padding=”yes” titles_font=”font-955596″ titles_size=”h4″ titles_weight=”500″ uncode_shortcode_id=”118970″ active_tab=”0″][vc_accordion_tab gutter_size=”2″ column_padding=”2″ title=”NFTs – Regulatory Perspectives and Challenges” tab_id=”1665420124-1-8616668891879051717695163614″][vc_column_text uncode_shortcode_id=”159462″]Joanna Rindell led the discussion on the need for precise definitions and clearer assessment criteria for NFTs to avoid misclassification under MiCAR. The group emphasized the importance of recognizing the unique artistic and utilitarian aspects of NFTs and recommended developing guidelines that reflect these unique characteristics.[/vc_column_text][/vc_accordion_tab][vc_accordion_tab gutter_size=”2″ column_padding=”2″ title=”Crypto-Assets Classification under MiCAR and MiFID II” tab_id=”1665420124-2-016668891879051717695163614″][vc_column_text uncode_shortcode_id=”473579″]Max Bernt highlighted the complexities in classifying crypto-assets, particularly those resembling derivatives. The roundtable called for harmonized guidelines across the EU and specific criteria based on the substantive qualities of tokens to ensure clarity and avoid stifling innovation.[/vc_column_text][/vc_accordion_tab][vc_accordion_tab gutter_size=”2″ column_padding=”2″ title=”Reverse Solicitation” tab_id=”efe01523-2776-616668891879051717695163614″][vc_column_text uncode_shortcode_id=”143643″]Tiana Whitehouse presented on the challenges posed by ESMA’s Reverse Solicitation Guideline under MiCAR. The group stressed the need for clearer differentiation between commercial and non-commercial activities and proposed exemptions for educational and professional gatherings.[/vc_column_text][/vc_accordion_tab][vc_accordion_tab gutter_size=”2″ column_padding=”2″ title=”Grandfathering Issues” tab_id=”10314d48-70e0-016668891879051717695163614″][vc_column_text uncode_shortcode_id=”161703″]Luiza Castro discussed the transitional provisions under MiCAR, highlighting the need for clear guidelines to help entities align their operations with new regulations. The roundtable emphasized the importance of ongoing dialogue between regulators and industry stakeholders to clarify ambiguities and ensure smooth transitions.[/vc_column_text][/vc_accordion_tab][vc_accordion_tab gutter_size=”2″ column_padding=”2″ title=”Grandfathering Art. 143 subsec. 3 MiCAR” tab_id=”6232a039-f9b5-716668891879051717695163614″][vc_column_text uncode_shortcode_id=”152265″]The discussion led by Alireza Siadat focused on the transitional regime outlined in Article 143(3) of MiCAR, which raised concerns due to its ambiguous provisions. This article allows crypto-asset service providers (CASPs) operational before December 30, 2024, to continue until July 1, 2026, or until their authorization is decided. This brings up the need for clear, harmonized guidelines from NCAs and ESMA to help CASPs navigate different national regimes and ensure a unified regulatory approach across the EU.[/vc_column_text][/vc_accordion_tab][vc_accordion_tab gutter_size=”2″ column_padding=”2″ title=”Transaction History for Privacy Coins” tab_id=”ec12aa78-7228-5″][vc_column_text uncode_shortcode_id=”551991″]Jörn Erbguth focused on the disclosure requirements for privacy coins under MiCAR. The group recommended limiting disclosure to transactions directly involving the holder to align with GDPR principles and reduce unnecessary exposure of personal data.[/vc_column_text][/vc_accordion_tab][vc_accordion_tab gutter_size=”2″ column_padding=”2″ title=”Frontend providers for DeFi operators” tab_id=”2c88c762-885c-2″][vc_column_text uncode_shortcode_id=”809624″]Daniel Resas focused in his discussion on the regulatory challenges of non-custodial frontends in decentralized finance (DeFi) under MiCAR, emphasizing the need for clear guidelines to avoid misclassification and undue regulatory burdens.[/vc_column_text][/vc_accordion_tab][/vc_accordion][/vc_column][/vc_row][vc_row][vc_column width=”1/1″][vc_custom_heading heading_semantic=”h3″ text_font=”font-955596″ text_size=”fontsize-155944″ text_weight=”500″ uncode_shortcode_id=”205685″]Primary Calls to Action[/vc_custom_heading][/vc_column][/vc_row][vc_row row_height_percent=”0″ override_padding=”yes” h_padding=”2″ top_padding=”3″ bottom_padding=”3″ overlay_alpha=”100″ gutter_size=”4″ column_width_percent=”100″ shift_y=”0″ z_index=”0″ style=”inherited” uncode_shortcode_id=”369721″][vc_column column_width_use_pixel=”yes” position_horizontal=”left” gutter_size=”3″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”0″ mobile_width=”0″ zoom_width=”0″ zoom_height=”0″ width=”1/2″ column_width_pixel=”600″ uncode_shortcode_id=”161929″][vc_icon position=”left” title_aligned_icon=”yes” icon=”fa fa-tick” background_style=”fa-rounded” text_size=”h4″ add_margin=”yes” linked_title=”yes” no_hover=”” title=”For Reverse Solicitation” link=”|||” uncode_shortcode_id=”169576″]Refine ESMA’s guidelines to clearly distinguish between commercial and non-commercial activities and consider exemptions for educational and policy-driven activities.[/vc_icon][vc_icon position=”left” title_aligned_icon=”yes” icon=”fa fa-tick” background_style=”fa-rounded” text_size=”h4″ add_margin=”yes” linked_title=”yes” no_hover=”” title=”For Crypto-Assets Classification” link=”|||” uncode_shortcode_id=”278383″]Establish substance-based criteria for crypto-asset classification and provide clear, accessible guidelines for National Competent Authorities (NCAs) and support continuous dialogue and collaboration among NCAs and the industry.[/vc_icon][vc_icon position=”left” title_aligned_icon=”yes” icon=”fa fa-tick” background_style=”fa-rounded” text_size=”h4″ add_margin=”yes” linked_title=”yes” no_hover=”” title=”For DeFi Operators” link=”|||” uncode_shortcode_id=”212519″]There is the necessity for regulatory clarity, legal risk management, and industry advocacy to support innovation and proper regulation in DeFi.[/vc_icon][/vc_column][vc_column width=”1/2″][vc_icon position=”left” title_aligned_icon=”yes” icon=”fa fa-tick” background_style=”fa-rounded” text_size=”h4″ add_margin=”yes” linked_title=”yes” no_hover=”” title=”For NFTs” link=”|||” uncode_shortcode_id=”170524″]Regulators should develop clear, detailed criteria for NFT classification that reflect their unique artistic and utilitarian aspects.[/vc_icon][vc_icon position=”left” title_aligned_icon=”yes” icon=”fa fa-tick” background_style=”fa-rounded” text_size=”h4″ add_margin=”yes” linked_title=”yes” no_hover=”” title=”For Privacy Coins” link=”|||” uncode_shortcode_id=”824734″]Advocate for privacy-enhancing technologies and limit disclosure requirements to align with GDPR principles.[/vc_icon][vc_icon position=”left” title_aligned_icon=”yes” icon=”fa fa-tick” background_style=”fa-rounded” text_size=”h4″ add_margin=”yes” linked_title=”yes” no_hover=”” title=”For Grandfathering” link=”|||” uncode_shortcode_id=”207947″]Entities should proactively plan for MiCAR compliance, and regulators should provide detailed guidelines to clarify transitional provisions. Regulators and industry stakeholders must provide proactive support to CASPs, particularly those not fully regulated under current laws but compliant with broader legal frameworks.[/vc_icon][/vc_column][/vc_row][vc_row row_height_percent=”0″ override_padding=”yes” h_padding=”2″ top_padding=”5″ bottom_padding=”3″ overlay_alpha=”100″ gutter_size=”3″ column_width_percent=”100″ border_color=”color-gyho” border_style=”solid” shift_y=”0″ z_index=”0″ uncode_shortcode_id=”120401″ border_color_type=”uncode-palette”][vc_column column_width_percent=”100″ align_horizontal=”align_center” gutter_size=”3″ overlay_alpha=”100″ shift_x=”0″ shift_y=”0″ z_index=”0″ medium_width=”0″ zoom_width=”0″ zoom_height=”0″ width=”1/1″][vc_custom_heading heading_semantic=”h3″ text_size=”h1″ uncode_shortcode_id=”174155″]Berlin Partners[/vc_custom_heading][vc_gallery el_id=”gallery-85457″ type=”carousel” medias=”131793,131452,131799,131802,131794″ carousel_lg=”6″ carousel_md=”5″ carousel_sm=”3″ gutter_size=”3″ media_items=”media|nolink|original,icon” carousel_interval=”3000″ carousel_navspeed=”400″ carousel_loop=”yes” stage_padding=”0″ single_overlay_opacity=”50″ single_overlay_anim=”no” single_text_anim=”no” single_image_anim=”no” single_padding=”2″ single_border=”yes” title=”Clients” uncode_shortcode_id=”626458″][/vc_column][/vc_row][vc_row row_height_percent=”0″ override_padding=”yes” h_padding=”2″ top_padding=”5″ bottom_padding=”5″ overlay_alpha=”50″ gutter_size=”4″ column_width_percent=”100″ shift_y=”0″ z_index=”0″][vc_column column_width_percent=”100″ gutter_size=”3″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ align_medium=”align_center_tablet” medium_width=”0″ align_mobile=”align_center_mobile” mobile_width=”0″ width=”1/1″ uncode_shortcode_id=”118081″][vc_custom_heading heading_semantic=”h3″ text_size=”h1″ uncode_shortcode_id=”143256″]Conclusion[/vc_custom_heading][vc_row_inner limit_content=””][vc_column_inner column_width_percent=”100″ gutter_size=”2″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ align_medium=”align_center_tablet” medium_width=”0″ align_mobile=”align_center_mobile” mobile_width=”0″ width=”2/3″][vc_column_text uncode_shortcode_id=”203687″]The Berlin MiCA Roundtable underscored the importance of collaboration between industry and regulators to navigate the complexities of crypto regulations. By addressing these key issues and implementing the recommended actions, the MiCA framework can evolve to support innovation while ensuring market stability and consumer protection. For more information and to participate, please contact the organizers at mariana.delaroche@validvent.com or nina.siedler@siedler.legal.[/vc_column_text][/vc_column_inner][vc_column_inner column_width_percent=”100″ position_vertical=”middle” align_horizontal=”align_center” gutter_size=”3″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”0″ mobile_width=”0″ width=”1/3″ uncode_shortcode_id=”131154″][vc_button size=”btn-lg” border_animation=”btn-ripple-out” outline=”yes” border_width=”0″ uncode_shortcode_id=”417944″ link=”url:http%3A%2F%2Fvalidvent.com%2Fwp-content%2Fuploads%2F2024%2F05%2FMiCAR-Roundtables-Expert-Series-_Berlin-_-Consolidated-report-1.pdf”]Download Report[/vc_button][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]