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June 2023

From Wild West to Regulated Frontier: The Impact of MiCAR on Europe’s Crypto Markets

The "Markets in Crypto-Assets Regulation" (MiCAR) intends to close existing gaps in the EU's financial services legislation by creating a uniform system of standards for the regula-tion of cryptocurrencies within the EU. It was designed, in this context, as part of a more comprehensive regulatory effort (i.e. the EU's Digital Finance Package), which includes fur-ther initiatives such as the Digital Operational Resilience Act (DORA) and the Transfer of Funds Regulation (TFR).

Virtual Meetings – Austrian Act on Virtual Meetings

On 26 July 2021, the ReO (Restrukturierungsordnung), which transposed the requirements of the EU Directive on Restructuring and Insolvency ("RIRL") on a preventive restructuring framework in Austria, was published. The RIRL entered into force retroactively on 17 July 2021. The RIRL already met with criticism at the European level. In particular, it was debated whether it was needed at all.