November 20, 2024

Attorney Lutz Auffenberg Comments on Art. 36 to 47 MiCAR in Kalss/Krönke/Völkel

As the first legal commentary on the new Markets in Crypto Assets Regulation (MiCAR) in the German-speaking area, the book “Crypto Assets” by the editors Prof. Dr. Susanne Kalss, Prof. Dr. Christoph Krönke and Attorney Dr. Oliver Völkel, LL.M. has now been published by the publishing house C.H. Beck. Our founding partner, Attorney Lutz Auffenberg, LL.M., contributed the commentary on Art. 36 to Art. 47 MiCAR. The articles commented on by him concern the provisions on the reserve of assets to be held by issuers of asset-referenced tokens (ART) (Art. 36 – 40 MiCAR), the takeover of issuers of asset-referenced tokens (Art. 41 and 42 MiCAR), the classification of asset-referenced tokens as significant (Art. 43 to 45 MiCAR) and the provisions on the recovery plan and the redemption plan (Art. 46 and 47 MiCAR). In addition to the commentary on the MiCAR, the book “Crypto Assets” contains commentaries on the DLT pilot regime, relevant passages of MiFID II and the EU Prospectus Regulation, MAR and the Second E-Money Directive, the European Anti-Money Laundering Directive, and the draft of the German Crypto Markets Supervision Act (KMAG) for the implementation of the MiCAR provisions, which is currently being ready for vote at the German Bundestag.