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Crypto-assets as financial instruments: Analysis of the ESMA Guidelines and the distinction between MiCAR-regulated crypto-assets and financial instruments
As crypto-assets and tokenised business models become increasingly established, new opportunities are opening up for companies, investors and service providers. At the same time, the question of which regulatory framework applies to these innovations is becoming increasingly pressing. The European Securities and Markets Authority (“ESMA”) has clarified in its guidelines
White Paper Requirement under MiCAR – Key Requirements and Practical Implications for Issuers
With the Markets in Crypto-Assets Regulation (EU) 2023/1114 (“MiCAR”), the regulation of crypto-asset markets has entered a new phase. From the start of 2025, public offers of crypto-assets and their admission to trading will generally be subject to an obligation to prepare and publish a crypto-asset white paper. This is
BREAKING NEWS: TGI AG Vaduz | Reimbursement Claims of Customers
TGI AG, Vaduz, already attracted media attention in the past and has been the subject of warnings issued by the FMA. Customers of TGI AG now have the opportunity to successfully reclaim payments made, subject to certain conditions. By order of 26 May 2026, published on 28 May 2026, the