Few topics currently capture the attention of the financial sector as strongly as stablecoins. Only recently, the United States introduced the GENIUS Act, creating a dedicated legal framework for their issuance. In Europe, by contrast, a binding regime for so-called e-money tokens has already been in place for more than a year through the EU Regulation on Markets in Crypto-Assets (MiCA).
Matthias Lehmann highlights that digital assets present new challenges due to their intangible, pseudonymous, and global nature, which may require specific rules of enforcement and insolvency law. An illustration of these challenges, according to Lehmann, is the question of whether a custodian of digital assets must respond to information requests and comply with asset freezes and seizures issued by foreign enforcement authorities. This is just one example of the many issues that still need to be resolved.
Philipp Bohrn emphasizes that enforcement and insolvency are key topics in the evolution of digital assets. As more people use digital assets, more questions regarding enforcement and insolvency arise in practical cases. Bohrn points out that there are key differences between digital assets that need to be considered not only legally but also in practice. Therefore, he stresses that increased collaboration between lawyers, university researchers, and firms will be necessary to find the best answers for all situations.
Digital assets in the context of insolvency and enforcement present a range of complex theoretical and practical challenges. For example, insolvency practitioners often grapple with the task of tracing digital assets and compelling the cooperation of insolvent debtors. Notably, the specific provisions of the Austrian Enforcement Act addressing "virtual currencies" remain untested in practice, leaving their practical application and effectiveness uncertain.
Oliver Völkel and Bryan Hollmann discuss the development of crypto ETFs and ETPs in the US and EU and offer insights into the legal framework for the securitization of crypto-assets.
Soham Mishra, Reserve Protocol's Head of Institutions, breaks down Reserve's product suite on DTFs (Decentralized Token Folios) and their impactful cooperation with Black Manta Capital Partners for institutional products in the European Union.
Oliver Völkel discusses the basic requirements under the EU Regulation on Markets in Crypto-Assets (MiCA) that are applicable to issuers and crypto asset service providers and highlights the sanctions that can be imposed on parties found to have violated these new norms and standards.
In his lecture, Stefan Huber describes how, although Austria does not have any specific "crypto criminal laws", the provisions of "general" criminal law are however applicable. Problems are more likely to arise during (cross-border) investigations and in connection with freezing orders.
In his lecture, Peter Vcelouch addresses various issues relating to crypto assets under civil law, civil procedural law, and enforcement law.
Benjamin Twardosz provides an overview of the law on financial crime and discusses the relevant provisions by looking at five case studies. He illustrates just how important old and new crypto tax law can be when assessing allegations of financial crimes.
