Dorothée Ciolino

MiCA is here, but what exactly is a crypto asset? ESMA’s latest guidance clarifies the line between MiCA and MiFID II—but uncertainties remain in digital asset classification.

Two months remain before the Digital Operational Resilience Act (Dora) comes fully into force in January 2025. A CSSF survey launched this summer has revealed that the compliance process for most entities is ongoing, but challenges remain regarding resources, dependencies, delays, and contractual negotiations.

New technologies have the potential to support the integration of capital markets, improve the provision of financial services and make them more efficient for the benefit of companies and citizens. Integrating them into existing business models also requires a cultural change among those who use them.