Michael Damianos & Co LLC’s Post

🚨 Hot off the press! Check out the latest article on the OECD’s Crypto-Asset Reporting Framework (CARF) is now live in the International Journal of Blockchain Law (pp. 27-30). 💡 "The OECD’s Crypto-Asset Reporting Framework marks a critical moment for the global tax governance of digital assets. By bringing crypto-assets into a reporting system similar to that used for traditional financial instruments, the OECD is positioning crypto as a fully recognized and regulated asset class. While CARF isn't designed to calculate crypto tax liabilities, it will significantly aid tax authorities by providing a robust mechanism for risk assessment and data-driven enforcement. This will enhance their ability to identify high-risk cases and address potential tax evasion, reshaping the landscape of digital asset compliance."

🇪🇺 European Standards for Security and Trust Fasqon, strategically registered in Portugal 🇵🇹, offers a unique blend of security and innovation. Here's why our choice of location is pivotal: 👉 Transparency & Accountability: At Fasqon, transparency isn't just a buzzword — it's our cornerstone. By operating under the purview of European governance, particularly in Portugal, we ensure that every facet of our operations is subject to rigorous scrutiny. From blockchain messenger services to crypto wallet functionalities, our commitment to transparency is unwavering. 👉 Legal Integrity: Portugal's robust legal framework provides the foundation for Fasqon's operations. With solid laws governing contracts, intellectual property rights, and corporate governance, our clients can trust that their interests are protected. By choosing Portugal, we bid farewell to legal ambiguities and embrace a landscape of legal certainty. 👉 Financial Security: In Portugal's secure banking environment, Fasqon ensures the safety of our clients' financial transactions. With stringent regulations and a commitment to financial stability, Portugal offers peace of mind to both our clients and our team. Whether you're engaging in crypto transactions or managing your finances, trust in Fasqon for unparalleled security. 👉 Ethical Practices: At Fasqon, ethics are non-negotiable. Our adherence to ethical business practices, mandated by EU standards, ensures that fairness and integrity are embedded in every decision we make. From fair labor practices to environmental sustainability initiatives, Fasqon admire to take the best. Fasqon's decision to establish roots in Portugal goes beyond geographical preferences — it's a strategic choice rooted in the pursuit of excellence and trustworthiness. Join the European standards’ security🔐 Join Fasqon #crypto #cryptonews #cryptocurrency #blockchaintechnology #bitcoin #security #privacy #messenger #artificialintelligence #chatgpt #AI #startup #startups

**Dubai Court Ruling Solidifies Crypto as Property: A Landmark Moment for Digital Assets** In a groundbreaking decision, the Dubai International Financial Centre Courts (DIFC) officially recognised cryptocurrencies as a distinct property. This ruling stems from a case involving the loss of bitcoins (BTC) in an allegedly fraudulent transaction and carries significant implications for the legal treatment of digital assets globally. This landmark ruling reflects the growing legal recognition of cryptocurrencies as a legitimate asset class. It also highlights the need for a comprehensive legal framework to address the unique challenges and opportunities digital assets present. Read this article by Anish Jaipuriar, Hardik Sabbarwal and Kritika Shrivasatava: https://lnkd.in/g8WvjKvy #Cryptocurrency #DigitalAssets #Blockchain #Law #Regulation #Dubai #DIFC #India

🚀 **Launching Utility Tokens in Malta: Compliance Requirements and Legal Considerations** 🇲🇹 Malta has established itself as a leading hub for blockchain and cryptocurrency, offering a robust regulatory framework that promotes innovation while ensuring investor protection. If you're considering launching a utility token in Malta, it's essential to navigate the compliance landscape effectively to ensure a smooth and successful token issuance. 🔍 **Key Compliance Requirements:** 1. **Regulatory Framework**: Understand Malta’s regulatory environment, including the Virtual Financial Assets Act (VFAA) and guidelines issued by the Malta Financial Services Authority (MFSA). 2. **VFA Service Provider License**: Secure a Virtual Financial Assets (VFA) service provider license if your project involves providing VFA-related services. 3. **Token Classification**: Ensure your utility token is classified correctly under the Maltese regulatory framework to determine the applicable legal requirements. 4. **AML/KYC Compliance**: Implement rigorous Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures to comply with Maltese regulations and international standards. 5. **Whitepaper Requirements**: Draft a comprehensive whitepaper that includes detailed information about your project, token economics, and compliance measures. 6. **Legal Opinions**: Obtain legal opinions from recognized Maltese legal experts to validate the compliance of your utility token and related activities. ⚖️ **Legal Considerations:** - **Data Protection**: Comply with the General Data Protection Regulation (GDPR) to ensure the privacy and security of user data. - **Consumer Protection**: Ensure transparent and fair practices to protect token holders and investors. - **Tax Implications**: Understand the tax obligations related to utility tokens and structure your project to optimize tax efficiency. Launching a utility token in Malta can be a transformative opportunity for your project, but it requires thorough preparation and adherence to the regulatory framework. By understanding the compliance requirements and legal considerations, you can confidently navigate the complexities and position your project for success. For more insights and expert guidance on launching utility tokens in Malta, feel free to connect and let's explore how we can help you achieve your goals! #Blockchain #Cryptocurrency #UtilityTokens #Malta #Compliance #Legal #TokenLaunch #Fintech #Innovation #CryptoRegulation #BlockchainLaw

Vietnam Ministry of Justice affirms approval of cryptocurrencies, calls for legal clarityCryptocurrency operates within a unique regulatory landscape in Vietnam, where it remains unrestricted by explicit bans but operates without a formal legal framework. This absence of clear regulations exposes the industry to significant risks, particularly in terms of money laundering and illicit appropriation. Despite its legal ambiguity, cryptocurrency transactions continue to occur, highlighting the need for regulatory clarity to ensure investor protection and financial integrity. Furthermore, the varying interpretations of virtual assets and digital currencies add another layer of complexity to the regulatory environment. Without a unified understanding among stakeholders, addressing the regulatory gaps becomes challenging. As a result, stakeholders,... https://lnkd.in/dYgGw-KV #Affirms #Approval #Calls #Clarity #Cryptocurrencies #Justice #legal #Ministry #Vietnam

🚀Exciting Announcement for Professionals in Trade and Finance!🌐 We are delighted to announce the release of the recording from our insightful meeting with Meral Şengöz of the T3i Partner Network. Our discussion, titled "Digitization of Trade and Trade Finance in Türkiye: Blockchain for Export Transactions and the Economic Impact of the United Nations Model Law on Electronic Transferable Records," delves into the transformative effects of digitization and blockchain technology on trade and finance sectors within Türkiye and beyond. In this session, Meral Şengöz shares expert insights on: - The current landscape of trade digitization in Türkiye. - The pivotal role of blockchain technology in revolutionizing export transactions. - The significant implications of the UN Model Law on Electronic Transferable Records for the economic landscape. This recording is a must-watch for anyone interested in understanding the intersection of technology, trade, and legal frameworks, and how these elements collectively shape the future of global commerce and finance. Whether you're a professional in the trade, finance, legal, or technology sector, this conversation offers valuable perspectives on leveraging digital advancements for economic growth and efficiency. 🔗 https://lnkd.in/dr6S5HtJ. Let's embrace the digital future of trade and finance together. Your thoughts and insights on the discussion are warmly welcomed! #TradeFinance #Blockchain #DigitalTransformation #Türkiye #EconomicImpact #UNModelLaw #TechnologyInTrade Andrea Frosinini Ayhan Köseoğlu Sophia Brumann Barbara (Bobbi) Muscara, Nancy Min Arun S M Kamlesh Nagware Alfonso Govela Julian Gordon Sherwood Moore Robin Klemens Juan Da Rocha Szymczuk Prasanna Lohar Akhil Damodaran,PhD Venu Borra Jim Mason Vipin Bharathan Vipin Rathi Marvin Bantugan Dr. Neha Jain Jonathan Garcia Amine Echtati Harley Hermanson Shawn Chambers Virginia Mijes Martin David Meynell Luca Castellani Sarah Green Chris Southworth Dr. David Saive, LL.M. #TradeFinance #Blockchain #DigitalTransformation #Türkiye #UNModelLaw #HLSC&TF #FinanceInnovation

As a Latvian, I am proud to be reading the interview below where Valainis, Minister of Economics, sees blockchain technology as a catalyst for Latvia's economic growth: "Blockchain can significantly enhance sectors like financial services, public administration, supply chain, healthcare, and real estate." In June this year, regulators in the country pushed forward its “Crypto Asset Services Law,” which aims to offer a clear regulatory framework to foster growth and attract investment and supports the country’s ambitious plans to become a hub for blockchain and cryptocurrency enterprises. Valainis believes in the law’s anticipated impact and outlined Latvia's strategic vision for leveraging blockchain technology to drive its economic transformation. Valainis emphasized that the new law provides essential legal clarity for the industry, which will be “crucial for making informed investment decisions," he stated. "We are committed to a business-friendly environment. Our crypto regulation, in cooperation with the Bank of Latvia and the State Revenue Service, aims to protect consumer rights while meeting market needs." said Valainis. Latvia also plans to enable tax payments and company equity contributions with crypto assets, enhancing the ease of doing business. I am proud to see Latvia moving fast in adopting the MiCA regulation and contributing to The Latvian Blockchain Association (LBAA) as its valued member. Are you excited about the MiCA too? MiCA is not a silver bullet, and a discussion to improve it is needed. Sources: LBAA member channel on Telegram and Cointelegraph (link in the comments) #web3 #crypto #technology #innovation #Latvia

The Markets in Crypto-Assets Act is on the horizon, set to transform the digital assets landscape in Malta. Implementing the Markets in Crypto-Assets (#MiCA) Regulation, this groundbreaking framework aims to bring much-needed clarity, investor protection, and innovation to the crypto space. MiCA is a comprehensive regulatory framework designed to streamline and harmonize the rules for crypto-assets across the EU. It covers a wide range of digital assets, including #cryptocurrencies, #utilitytokens, and #stablecoins, ensuring a safer and more transparent market for all participants. With the implementation date fast approaching, now is the time for businesses, investors, and stakeholders in Malta to prepare and align with the new regulations. Compliance will be crucial for staying competitive and leveraging the opportunities presented by this dynamic sector. Navigating the complexities of MiCA can be challenging, but you don't have to do it alone. Our team of experts is here to provide you with tailored advice and support to ensure a smooth transition. Whether you're a startup, established business, or investor, we have the knowledge and experience to guide you through every step of the process. Don't wait until it's too late. Reach out to us today for a consultation and let us help you stay ahead of the curve. Together, we can ensure your business thrives under the new MiCA regulations. 📧 Contact us at office@fortislegal.eu #MiCA #CryptoRegulation #Malta #DigitalAssets #Blockchain #Crypto #Compliance #Innovation #FinTech

++ AltCoinTrader Granted FSP Status: South Africa’s Crypto Exchange Triumphs Regulatory Scrutiny ++ AltCoinTrader, South Africa’s beloved cryptocurrency exchange, has received the approval as a registered Financial Service Provider (FSP). This milestone marks a significant achievement for the platform and prompts questions about its implications. Having attained FSP status from the South African regulator, AltCoinTrader solidifies its position as a key player in the country’s cryptocurrency landscape. Despite operating in full compliance with regulations for years, the official recognition as an approved, registered, and licensed crypto exchange underscores its commitment to regulatory standards. #techafricanews #africa #southafrica #crypto #exchange #regulator #financialserviceprovider #compliance

💭 Could MiCA do for Liechtenstein what Brexit did for Lithuania? 💭 Liechtenstein is set to become a top destination for crypto firms looking to operate under the EU’s Markets in Crypto-Assets (MiCA) regulation. As an EEA member, the country offers access to both EU and Swiss markets, with an established legal framework that already supports blockchain and digital assets through the Token and Trusted Technology Service Provider Act (TVTG). This regulatory groundwork, combined with Liechtenstein’s strategic location and expertise in the crypto sector, makes it an attractive hub for firms. Companies operating under Swiss regulations can easily expand across the Rhein, leveraging MiCA’s passporting rights. As MiCA implementation progresses, Liechtenstein’s financial regulator (FMA) is already engaging with interested parties, making it easier for businesses to transition smoothly. With a progressive regulatory environment, strong support from government bodies, and proximity to Switzerland’s crypto hubs, Liechtenstein is primed to be a magnet for digital asset companies looking to scale within Europe. #Liechtenstein #Crypto #MiCA #Blockchain #FinTech #DigitalAssets #Regulation #CryptoHub #Web3 #EuropeTech #CryptoRegulation #Innovation #CryptoBusiness