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By Vincent WELLENS Ottavio COVOLO, avocats à la Cour, NautaDutilh Avocats Luxembourg S.à r.l.
The clock is ticking for the entry into application of a number of upcoming regulations, such as the AI Act on 2 February 2025,(1) DORA on 17 January 2025, but the rest of the MiCAR provisions regarding crypto-asset service providers (“CASP”) will be first entering into application at the end of this year, on 30 December 2024 together with the transfer funds regulation (“TFR”). With this date fast approaching, and recent news of CASP applications needing more time to be processed, entities which were licensed under the current virtual asset service provider (“VASP”) regime are now turning to assessing the possibilities offered by the grandfathering provisions...
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