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MONEY LAUNDERING. IMPLEMENTATION OF DIRECTIVE 2015/849 TO THE SPANISH LEGISLATION

The Council of Ministers passed the Royal Decree-Law 11/2018 on 31st August 2018 for the adaptation of Spanish legislation to Directive 2015/849, which implies the modification of Money Laundering Act 10/2010. In substance, it deals with establishing new obligations in terms of licencing or a registry for service providers to companies. It also establishes harsher penalties for offences as well…

The regulation of Virtual Financial Assets (“VFA”) – the “Malta Route”

On 26th June 2018 Malta passed a package of three rules aimed at regulating blockchain technology on a global basis, ranging from the launch of ICOs (Initial Coin Offerings) to cryptocurrency exchanges. It could be said that giving a legal framework to blockchain technology and the economic ecosystem that surrounds it is a pioneering initiative. The objective is to build…

Cryptocurrency and the digital economy

In the wake of the judgment given by the EU Court of Justice in 2015, on 22nd February  2018 the German Finance Ministry issued its decision regarding the legal treatment of payments with cryptocurrency, according to which cryptocurrency is coming to be equated to payments made by legal means of payment inasmuch as they are accepted as a form or…