𝗥𝗲𝘃𝗲𝗿𝘀𝗲 𝗦𝗼𝗹𝗶𝗰𝗶𝘁𝗮𝘁𝗶𝗼𝗻 𝗠𝗮𝘇𝗲

The report of the Zug MiCAR Roundtable is published!

The recent regulatory landscape in the EU has created a complex environment for third-country crypto firms. With MiCAR becoming fully applicable at year end, several key questions have been raised:

• Is a third-country service provider with a fully compliant EU subsidiary with MiCAR license still able to accept EU clients or does the fact that this corporate group runs a compliant EU subsidiary prevent them from leveraging the reverse solicitation exemption for their third-country services?

• Can an EU crypto-asset custody provider still use the third-country intra-group custody infrastructure or is it forced to create its own solution, driving costs and potentially customers to the third-country firm?

• May a third-country crypto project issue a MiCAR compliant token (incl. white paper etc) into the EU and still accept EU clients for their (non-MiCAR compliant) crypto-asset service under the reverse solicitation exemption?

The answers to these questions will significantly impact the business strategies of third-country crypto firms operating in the EU. 

Check out the report and gladly join the discussion!

Many thanks to our rapporteurs Peter Lohmann, Tina Rebecca Balzli and Reto Luthiger as well as our partners for this roundtable Crystal Intelligence, Token Recovery, CV Labs, the European Commission and thinkBLOCKtank!

And shoutout to my amazing co-organiser Mariana de la Roche Wills for always knowing how to bring out the best in everyone in this community effort to create more clarity on how to apply MiCAR!