Liechtenstein: Fin Tech

Readers familiar with the accelerated regulatory tempo that has characterised the European crypto-asset landscape since the adoption of the Markets in Crypto-Assets Regulation ("MiCA") will have noticed that, on 26 March 2025, the European Securities and Markets Authority ("ESMA") supplemented the primary legislation with a 35-page set of Guidelines on the assessment of suitability and on the format of the periodic statement for portfolio-management activities.

Compliance officers who skim regulatory updates only for headline-worthy acronyms may have overlooked three slim yet densely reasoned answers that the European Securities and Markets Authority published in mid-June 2025.

When the European Securities and Markets Authority released, in close succession, (i) its Guidelines on situations in which a third country firm is deemed to solicit clients established or situated in the European Union and the supervision practices to detect and prevent circumvention of the reverse solicitation exemption.

Als weiterer Teil unserer Newsletterreihe zur Verordnung über Märkte für Kryptowerte (MiCA) behandeln wir das unter MiCA geltende Marktortprinzip, das den räumlichen Anwendungsbereich definiert.

Anfang 2023 schlossen die in Liechtenstein ansässige Celestia Foundation und Strange Loop Labs, die Macher von Celestia (www.celestia.org ), eine Serie B Private Round in Höhe von USD 55 Millionen, die von Bain Capital Crypto (https://baincapitalcrypto.com ) angeführt wurde.

Our attorney Teresa-Christina Macan has published an article in the Austrian Journal of Financial Market Law on third-party effects of international debt assignments.

This article shall at first give a brief overview of the blockchain technology and a potential range of its applications under the premise of a decentralized technological environment.

From VASP (Virtual Asset Service Provider) to CASP (Crypto Asset Service Provider) – on October 10, 2022, the European Parliament's Committee on Economic and Monetary Affairs...

In Liechtenstein, the token has been legally defined by the Token and TT Service Provider Act (TVTG). According to the TVTG, a token is information on a TT system (blockchain) that (i) can represent...