DIGITAL/VIRTUAL CURRENCIES –Regulatory Approaches of Authorities
The classification of Virtual Currencies (VC) in Austria is not clear yet. However, approaches of the FMA as competent authority seem to come up. The Swiss FINMA emphasizes the respective qualifications of the Tokens with regard to ICOs. The German BaFin discusses different services with regard to VCs and verifies under certain circumstances its responsibility on a case-by-case-basis. Based on that a potential qualification of VC as financial instruments in Austria as well as the qualification of the FMA as competent Authority is likely.
We would be happy to assist you by:
- Review and Examination of your business model regarding current banking and capital market regulations comprising statement on potential future regulation risks.
- Support with regard to discussions on the business model with the Austrian Financial Market Authority;
- Support in potential supervisory-, civil or criminal proceedings with a team of domestic and foreign specialized lawyers (e.g. commercial criminal law), auditors and litigation-media-experts.
In case of questions: GL@GEORGESLESER.COM