BBitcoin & Cryptocurrencies
They are not kidding - ESMA's Public Statement on the End of the MiCAR Transitional Period 1
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  • 4 minute read

They are not kidding – ESMA’s Public Statement on the End of the MiCAR Transitional Period

On 23 June 2026, the European Securities and Markets Authority (ESMA) published a public statement (ESMA75-113276571-1710) clarifying its expectations of crypto-asset service providers (CASPs) following the end of the transitional period under the Markets in Crypto-Assets Regulation (MiCAR) on 1 July 2026. The statement builds on ESMA's earlier statement of 17 April 2026 and is addressed, in particular, to entities that will not hold MiCAR authorization by the deadline but continue to service EU clients under national regimes.
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PPSD2
MiCAR trifft PSD2: Warum E-Geld-Token plötzlich doppelt reguliert werden | ALLES LEGAL #138
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  • 2 minute read

MiCAR meets PSD2: Why e-money tokens are suddenly subject to dual regulation | ALLES LEGAL #138

Since the end of the EBA transitional period in March 2026, many crypto-asset service providers have had to assess whether, in addition to MiCAR, they also require a PSD2 or national payment services licence. In this episode, Kemal Ahmedi explains why crypto regulation and payment services law overlap and what this means for business models and licensing strategies.
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PPodcast
MiCAR erklärt: Was die neue Krypto-Regulierung für Unternehmen verändert | ALLES LEGAL #137 MiCAR explained: How the new crypto regulation is changing the market | ALLES LEGAL #137
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  • 2 minute read

MiCAR explained: How the new crypto regulation is changing the market | ALLES LEGAL #137

With MiCAR, the EU is introducing its first harmonised regulatory framework for crypto-assets. In the latest episode of “Alles Legal – Fintech-Recht kompakt”, Kemal Ahmedi from Annerton explains which companies will require a MiCAR licence, why stablecoins are subject to stricter regulation and how the EU passport could reshape the European crypto market.
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FFinTech
Neues Buch: Das Recht der digitalen Zahlungsdienstleistungen
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  • 2 minute read

PayTechLaw – now available as a book!

With the title “PayTechLaw – The Law of Digital Payment Services”, a new handbook has been published by C.H. BECK. It is dedicated entirely to the regulatory and civil law framework of digital payments. The editors: Prof. Dr. Carsten Herresthal, LL.M., and Annerton partners Dr. Matthäus Schindele and Frank Müller, LL.M. – all recognized experts in payment services and financial regulatory law. They were supported by a top-class team of authors – including many familiar names from the Annerton environment and beyond.
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TTax
VAT Treatment of Trading in Non-Fungible Tokens (NFTs) 4
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  • 3 minute read

VAT Treatment of Trading in Non-Fungible Tokens (NFTs)

So far, there is no supreme court ruling or official administrative guidance on the VAT treatment of NFTs. A recent case before the Lower Saxony Tax Court involves a domestic entrepreneur who traded NFT “collectibles” via the OpenSea platform in 2021. The digital works themselves were not sold; instead, blockchain-based database entries were transferred. The sales were executed automatically via smart contracts, which are not considered legal contracts.
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