Legal and regulatory advisory methodology
Our mission is to ensure that your project complies with the applicable regulations, providing legal certainty and avoiding unnecessary risks.
Kick-off
You tell us about your project in detail, we review all the legal, financial, or technical documentation that supports it, and in view of the above, we raise the possible issues that will help us in the process.
01.
Legal risk assessment
With the information obtained in the kick-off, and in view of the regulations applicable to the project, we determine its risks, and design the legal layer that provides legal security to your project.
02.
Implementation
of compliance processes
With the result of the evaluation process, we proceed to the practical implementation of the legal layer necessary to facilitate the viability of the project.
.
03.
Continuous monitoring and regulatory updates
After the start-up and implementation of the legal layer, we will proceed to monitor the project, in order to adapt it at all times to the regulatory changes that may come in the future.
04.
Objective
Guarantee the sustainability of the project in a regulated environment, optimizing regulatory compliance and minimizing legal risks.
Use cases in regulatory compliance for blockchain and crypto-assets
Regulatory wave. How can I navigate through so many and such diverse regulations?
Little by little, the regulation of the nascent crypto sector is taking shape with Europe at the helm. The different states of the EU and others outside it are regulating the sector with the aim of attracting business and investment. This gives rise to different regulatory frameworks and, therefore, different jurisdictions that may be more or less attractive for the specific project in question.
European regulations regarding crypto-assets
We advise you on the application of European regulations applicable to crypto-assets (MICA Regulation, Funds Transfer Regulation, Pilot Regime for market infrastructures in Dlt, eIDAS2, etc.), and the implications it may have on your project.
MICA
Licenses
If you provide, or want to provide, crypto-asset services in Spain, you are subject to an authorization regime in Spain, and you must obtain the license for it from the supervisory entity (National Securities Market Commission).
From Miraizen Legal, we accompany you on the road to obtaining it.
Foreign
exchange that wants to operate in the European market
If you are a company established outside the EU, dedicated to the exchange of cryptocurrencies, and you want to provide your services in Spain, in addition to certain authorizations from the supervisory bodies, you must comply with both European and Spanish regulations in matters such as the MiCA Regulation, the regulations on the prevention of money laundering (AML/KYC) and data protection regulations, among others.
We are here to help you in the process.
✴︎
Personalized approach and regulatory compliance
The great regulatory process open around crypto-assets throughout the world means that the applicable regulation is numerous and heterogeneous. The lack of common international criteria produces substantial differences between states, which must be taken into account when locating projects.
Therefore, specialized and personalized advice is essential, on a case-by-case basis.
✴︎
Do you want to know more about blockchain and crypto-asset compliance?
Frequently Asked Questions
What is the MiCA regulation?
Given the appearance and adoption by the public of cryptocurrencies and other crypto-assets, the legislator, in our case the EU, fundamentally with the aim of protecting users of these assets, has set about regulating.
The MiCA (Markets in Crypto-Assets) Regulation is the rule applicable directly in all EU member states, which regulates the markets related to cryptocurrencies and other digital assets.
What is an Asset Referenced Token or ART?
One of the problems associated with cryptocurrencies is their volatility. Taking as an example the first and most famous of them, bitcoin, we can see that its price varies practically every minute, and is subject to strong value fluctuations in very short periods of time.
The ART is a crypto-asset that falls within those regulated by the MiCA Regulation. These tokens are characterized by maintaining their stable value, as they are backed by other much more stable assets (underlying or collateral), such as other FIAT currencies (such as the euro), raw materials (such as gold), or other cryptocurrencies.
And what about electronic money tokens, or EMT (E-Money Token)?
EMTs are tokenized electronic money. They are also a type of crypto-asset that falls under MiCA regulation.
Unlike ARTs, EMTs maintain their stability by being collateralized with another FIAT currency, such as the dollar or the euro. The EMT issuer must guarantee that the tokens are backed by fiat currency in a 1:1 parity relationship. That is, each token is backed by 1 euro.
Who can issue ARTs in Spain?
Companies (legal entities) that obtain the proper authorization from the Bank of Spain may do so, in addition to credit institutions that have obtained approval of the corresponding white paper from the aforementioned Bank.
And the EMTs, who can issue them in Spain?
Both credit institutions and electronic money institutions that are duly authorized by the Bank of Spain may issue them.
Resources on legal and tax advice on technology and digital assets
