On Nov. 14, SLV ATVP informed of its new powers re crypto-assets.
SLV ATVP is preparing for its new powers in the field of the crypto-assets market.
Following SLV PRL Aug. 2024 published a bill re crypto-assets market, see #224036.
Main Points
SLV ATVP will acquire new powers with the implementation of the Act on the Implementation of the EU Regulation on Cryptocurrency Markets (1669-IX).
According to this Act, the responsibilities for issuing and revoking licenses and supervising crypto-asset service providers are divided between SLV ATVP and SLV CB.
SLV ATVP has already presented to interested companies the procedures for obtaining a license for CASP/official notification of the intended provision of crypto-asset service.
It has established a new section on its website , in which all regulations in the field of the cryptoassets market are collected, including the delegated and implementing acts.
It also published online the form to request a crypot-asset service provider permit.
And for official notification of crypto-assets services provision under art 60 of MiCA.
By May 23, 2025, SLV ATVP will issue guidelines re crypto-asset providers obligations.
Effectiveness
The new powers will enter into force on Nov. 23, 2024.
Regulators
SLV ATVP
Entity Types
Auditor; B/D; Bank; IA; Ins; Inv Co
Reference
PR, 11/14/2024; Law 1669-IX; MiCA Reg 2023/1114; Fintech
