Dr Eugenijus Miliukas shares his insights at the international conference
2023 10 03
Exploring cryptocurrency regulation with an expert in financial regulation and fintech Dr Eugenijus Miliukas. A lecturer at MRU and senior associate at WALLESS, shared his insights at the international conference “European regulation of the cryptocurrency market: implementation in Ukraine”.
During his presentation, Eugenijus shed light on the topic “MICAR: new asset type & financial services regulation” providing key insights:
- Crypto asset is a new type of financial asset which stand out with distributed ledger technology;
- Crypto services parallel investment services and bares the same risks to its investors: information asymmetry, legal risk, fraud and conflict of interests;
- MICAR ensures investors protection and creates integral EU crypto single market, which enables cross-border provision of crypto services through EU passporting regime;
- E-money tokens are classified as e-money in accordance with the EU E-Money Directive 2009/110/EC and the Lithuanian Law on Electronic Money and Electronic Money Institutions. The current e-money regulation also extends to e-money tokens in principle.