The crypto fund domicile decision.
The post The crypto fund domicile decision. appeared on BitcoinEthereumNews.com. Opinion by: Julie Bourgeois, Head of Legal and Compliance, 6 Monks Digital asset regulations are rapidly evolving to ensure the transparency and safety of all market participants. This is no more evident than in Europe, where two different regulatory models have emerged. On one side is the European Union’s Markets in Crypto-Assets (MiCA), which offers precise regulation for all 27 member countries. On the other side is the UK which, after Brexit, still has no common regulation such as MiCA. With its new “Plan for Change,” the UK claims it wants to be “the best place in the world to innovate,” and it’s working on new laws to better protect people and support crypto growth. For fund managers, these differences can become a difficult puzzle to solve. Should they favor the legal certainty offered by the MiCA-compliant EU? Or should they bet on the UK’s upcoming changes? What can MiCA promise? MiCA has clarified questions on crypto in the EU. Today, the regulation provides a comprehensive and, more importantly, harmonized framework across all member states. Perhaps MiCA’s most significant advantage is its passporting mechanisms, from which many companies already benefit. Once the grandfathering period has elapsed and the national competent authority has provided its green light through the MiCA license, a crypto service provider can offer crypto asset services to any country in the EU. This is desirable for companies planning to scale their activities at the EU level — no more fragmented regulation. MiCA’s positive influence, especially at the stage of business scaling, can be seen in the region. Previously, launching in another EU country meant re-legalization and months of approvals. Now, an approved licensed CASP status in one country means you are legally operating throughout the EU. This saves tens of thousands of euros and months of work.…
The post The crypto fund domicile decision. appeared on BitcoinEthereumNews.com.
Opinion by: Julie Bourgeois, Head of Legal and Compliance, 6 Monks Digital asset regulations are rapidly evolving to ensure the transparency and safety of all market participants. This is no more evident than in Europe, where two different regulatory models have emerged. On one side is the European Union’s Markets in Crypto-Assets (MiCA), which offers precise regulation for all 27 member countries. On the other side is the UK which, after Brexit, still has no common regulation such as MiCA. With its new “Plan for Change,” the UK claims it wants to be “the best place in the world to innovate,” and it’s working on new laws to better protect people and support crypto growth. For fund managers, these differences can become a difficult puzzle to solve. Should they favor the legal certainty offered by the MiCA-compliant EU? Or should they bet on the UK’s upcoming changes? What can MiCA promise? MiCA has clarified questions on crypto in the EU. Today, the regulation provides a comprehensive and, more importantly, harmonized framework across all member states. Perhaps MiCA’s most significant advantage is its passporting mechanisms, from which many companies already benefit. Once the grandfathering period has elapsed and the national competent authority has provided its green light through the MiCA license, a crypto service provider can offer crypto asset services to any country in the EU. This is desirable for companies planning to scale their activities at the EU level — no more fragmented regulation. MiCA’s positive influence, especially at the stage of business scaling, can be seen in the region. Previously, launching in another EU country meant re-legalization and months of approvals. Now, an approved licensed CASP status in one country means you are legally operating throughout the EU. This saves tens of thousands of euros and months of work.…
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