Wyden’s Post

The Turkish draft bill on crypto assets is in the process of clearing parliamentary approval, and will impose broad obligations, such as licensing, the prevention of market abuses, and the requirement for formal written contractual agreements with customers. Accordingly, the Turkish digital asset market gained enormous momentum lately with Wyden being at the forefront of institutional adoption again. Our latest expert article assesses: ✅ The requirements imposed by the bill ✅ The future impact ✅ How CASPs serving Turkish customers can set themselves up for a compliant crypto asset service offering Please find our blog post here: https://lnkd.in/dne35wPJ.

The Turkish Parliament just adopted the new #crypto assets regulation bill –enforcing stricter oversight on the #crypto market and putting the handling of digital currencies under the radar of the country’s market regulator. Read more: https://lnkd.in/dpX_fHHA To learn more about... ✅ The requirements imposed by the bill ✅ The future impact ✅ How CASPs serving Turkish customers can set themselves up for a compliant crypto asset service offering. ...read our latest expert article on the Wyden blog: https://lnkd.in/dyBt39H8

The Turkish digital asset market gained enormous momentum lately with Wyden being at the forefront of institutional adoption again. One of the reasons are the regulatory developments in #Turkey, namely their #Crypto Draft Bill. Our latest expert article assesses: ✅ The requirements imposed by the bill ✅ The future impact ✅ How CASPs serving Turkish customers can set themselves up for a compliant crypto asset service offering Read our assessment on the Wyden blog: https://lnkd.in/dne35wPJ

📣ESMA delivers opinion to address the risks presented by global crypto firms seeking authorisation under #MiCA for part of their activities. ➡️These firms often aim to authorise some activities, such as crypto brokerage, while keeping significant parts of their operations, like intra-group execution venues, outside the EU regulatory scope. 🔹ESMA highlights the risks of complex structures where execution venues fall outside MiCA’s purview. This includes scenarios where an EU-authorised broker routes orders to an intra-group venue outside the EU, potentially reducing consumer protection and creating an uneven playing field for EU-authorised venues. 💡ESMA advises National Competent Authorities (NCAs) to be diligent during the authorisation process, ensuring global firms’ business structures comply with MiCA to protect consumers and maintain transparent and orderly crypto markets. ✅The Opinion calls for a case-by-case assessment, specifying requirements for best execution, managing conflicts of interest, acting in clients' best interests, and the custody and administration of crypto-assets on behalf of clients.

🌍 MiCA is set to redefine crypto regulation in the EU! If you’re a Crypto-Asset Service Provider (CASP), understanding Article 4 is crucial. It lays out the authorization requirements to legally operate in this dynamic market. Learn more 👉 https://lnkd.in/evgPWQky (1) 🔑 Some of the Key highlights of MiCA’s Article 4 for CASPs are; 1️⃣ Obtain licensing in an EU Member State. 2️⃣ Establish sound governance & internal controls. 3️⃣ Fulfill capital and prudential requirements. 💡 MiCA’s regulatory clarity empowers CASPs to operate confidently and align with the EU’s evolving crypto landscape. Compliance is not just about meeting requirements — it’s about building trust in the market.

Cyprus is set to enact significant changes for crypto-asset service providers (CASPs) as the October 30 deadline approaches. #MiCARegulation #CryptoCompliance #CyprusCrypto #DigitalAssets #CASPs #EURegulation #CryptoAssets #CryptoServices

📢 Exciting Industry Milestone! Today marks a significant day for us in the Turkish crypto markets sector. The Law on Amendments to the Capital Markets Law No. 7518 has officially been published in the Official Gazette as of 02.07.2024 and is now in full effect! 🚀 This development heralds a new era of growth and transformation for our industry. As we gear up for the upcoming licensing challenges, I am optimistic that our collective resilience and experience will guide us through this phase stronger than ever before. 💪 Let’s move forward with unwavering determination and solidarity, embracing the opportunities this new chapter presents! 🌟📈 #CapitalMarkets #Compliance #Regulations #IndustryUpdates #Crypto

🚀Turkey Set to Introduce New Crypto Law to Align With International Standards🚀 Here are the key points: ➡️ Aimed at aligning with international standards and reducing crypto transaction risks. ➡️ Capital Markets Board to enforce strict regulations on licensing and operation of crypto trading platforms. ➡️ It will ensure safe asset custody, transparent platform-customer relationships, and specify sanctions for non-compliance. ➡️ Expected legislation draft to be submitted to parliament within a week, backed by treasury and Finance Minister Mehmet Şimşek. Stay tuned with Web3 R&D for further updates! PC: Forbes India #CryptoRegulation #Turkey #Finance #Web3withus

⚖️ Exciting news in the world of Stable Coins! Circle has made a groundbreaking announcement, becoming the first global stablecoin issuer to comply with the European Union's Markets in Crypto-Assets (MiCA) regulatory framework. 🌍🔒 Circle's French entity has successfully launched USDC and EURC issuance in the EU after obtaining an Electronic Money Institution (EMI) license from the French banking regulatory authority, Autorité de contrôle prudentiel et de résolution (ACPR). This achievement represents a crucial milestone in creating a regulated market for stablecoins in Europe. 🇪🇺💼 In parallel, the Autoriteit Financiële Markten's MiCA webinar is now accessible online. Gain valuable insights into how the AFM is gearing up its supervision under MiCA, including information on the authorisation procedure, pre-scan, and licensing processes. 💻📊 Furthermore, the European Securities and Markets Authority (ESMA) has provided updates on their ongoing work, focusing on finalizing regulatory technical standards and convergence activities. 📈🌐 For any inquiries regarding MiCA, don't hesitate to reach out to us! Stay informed about the latest regulatory developments in the crypto industry by subscribing to the Watsonlaw newsletter. 🔗 Link in the comments below. #digitalfinance #mica #cryptoregulation #circle #afm Camiel Vermeulen Inge Lakwijk Marlinde Nannings Eline Janssen Rens Kattenbelt