Regulating Crypto Assets under the Covid-19 pandemic veil: legislation in the EU and the Czech perspective
Regulating Crypto Assets under the Covid-19 pandemic veil: legislation in the EU and the Czech perspective

Author(s): Petr Tomčiak
Subject(s): Social Sciences, Law, Constitution, Jurisprudence, Sociology, Health and medicine and law, Law on Economics, EU-Legislation, Comparative Law
Published by: Societatea de Stiinte Juridice si Administrative
Keywords: crypto-assets; digital finance; financial regulation; Covid-19;
Summary/Abstract: This contribution aims to discuss recent regulatory initiatives concerning crypto-assets and to analyse the development on the market of crypto assets with reactions made by regulators. During the Covid-19 pandemic the financial markets, especially crypto assets experienced unprecedented volatility. The economic uncertainty and dynamic rise of crypto assets together with retail investors’ higher attention forced regulators to react. Based on the latest market development the contribution shall discuss key elements of the proposal for a regulation on market in crypto assets. After descriptive analysis of the legislative proposals, the weaknesses should be analyses aiming to identify key problematic issues and potential consequences of the proposal. The critical discussion should justify the need for regulations to draw attention to aspects that shall be revised during the legislative process. Special attention is paid to the regulation in the EU and implications for the Czech Republic.

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