2025-07-07-bafintech-praesentation-beikircher-fischer-schaaf-data.pdf

Here are the key points summarized:

1. Introduction

• MiCAR (Marktkonforme Regulierung von Kryptowährungen) is a German regulation for cryptocurrencies
• The workshop aimed to discuss the implementation of MiCAR and its interactions with other regulations, such as PSD2

2. Crypto-Asset Service Provider (CASP)

• CASP is a service provider that offers services related to cryptocurrencies
• Key points:
  • Pre-funding of customer orders: allowed, but only if the CASP has the necessary licenses and permissions
  • Closed-loop model: customers can request the return of their cryptocurrencies, and the CASP must have procedures in place to facilitate this
  • Sub-custody: CASPs must only use licensed and regulated sub-custodians

3. Outlook: Notification and Reporting

• MiCAR requires notification and reporting for certain events, such as changes in capital or business model
• Key points:
  • Simplified notification procedures are available for certain events
  • The regulation applies to all institutions that offer cryptocurrency services, including banks and fintech companies

4. PSD2 Interplay

• PSD2 (Payment Services Directive 2) is a European regulation that regulates payment services
• Key points:
  • MiCAR requires the same level of protection for cryptocurrencies as PSD2 requires for fiat currencies
  • The regulation applies to all institutions that offer cryptocurrency services, including banks and fintech companies

Note: The text is in German, but I have summarized the key points in English.