Webinar 2: Crypto-assets caught by TradFi regulation in the EU

Webinar
|
February 28, 2024

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A clear, concise overview of the European Securities and Markets Authority (ESMA)’s proposed guidelines for asset categorisation and how it may affect the EU crypto market.

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In Webinar 2, the XReg team covers the European Securities and Markets Authority (ESMA)’s consultation on the proposed guidelines for the qualification of crypto-assets as financial instruments.

Ernest Lima and Ana James provide a clear, concise explanation of:

  • The EU's Markets in Crypto-assets Regulation (MiCA), Markets in Financial Instruments Directive (MiFID II) and ESMA's consultations.
  • An overview of the key categories EU regulators will use to classify assets.
  • A deep dive into three noteworthy financial instrument categories that are relevant for crypto-asset issuers: transferable securities, derivatives contracts and hybrid tokens.
  • What comes next and how the Guidelines are likely to affect the future of the crypto-asset industry in Europe.

To watch the recording of the webinar, click here. To access the slides from the presentation, click here.

Meet the Authors

Ernest Lima

Partner

Ernest Lima

Ernest is one of the founding Partners at XReg Consulting and a qualified lawyer with over 17 years of experience working in financial services regulation. As XReg’s legal and regulatory policy lead, he is highly experienced in the design, development and implementation of crypto legislative frameworks that meet both global and local policy objectives.

At XReg, Ernest leverages in-house expertise on Europe’s Markets in Crypto-assets (MiCA) Regulation to advise clients in Europe or those looking to enter the European market. He also leads engagement with European public sector officials and National Competent Authorities in their transition to MiCA compliance.

Ernest has also spoken at industry conferences and trained international regulatory authorities on Europe’s MiCA regulation and how it will shape the future of crypto’s international regulatory landscape. He also sits on the Financial Markets Law Committee to address issues arising from the use of cryptoassets and DLT.

Prior to XReg, he was the Head of Policy at the Gibraltar Financial Services Commission, where was instrumental in the design and implementation of the Distributed Ledger Technology regime. He also led and managed the Legislative Reform Program, the single largest financial services legislation reform in the jurisdiction, and worked to transpose several EU Directives into Gibraltar law.

Ana James

Senior Consultant

Ana James

Ana is a Senior Consultant at XReg Consulting, where she delivers comprehensive advisory services to both public and private sector clients. Her expertise includes regulatory authorisations, remediation, development of tailored regulatory frameworks, risk assessments, training and implementing systems to mitigate risks and ensure compliance.

Since joining XReg in 2019, Ana has advised national governments on crypto-asset risk assessments, supported regulatory authorities in drafting rules and guidance and contributed to global associations’ responses to EU crypto-asset legislation. Her thought leadership extends to XReg’s content marketing efforts, where she has authored reports and articles and hosted webinars on the latest developments in the crypto-asset sector.

Ana began her career at the Gibraltar Financial Services Commission (GFSC), serving in the Authorisations and International and Government Affairs teams. As International Policy Advisor, she liaised with regulators and public sector entities, enhancing GFSC's role in global forums. Ana holds the Chartered Insurance Institute’s core qualification (CII) and a Global Certificate in Securities Markets Regulation from IOSCO/PIFS-Harvard Law School.

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