The Road to MiCAR continues – Danish view added

MiCAR will have an impact on all European countries. At Bird & Bird, we have the capabilities to advise spread throughout Europe, including Denmark. In our first update, we have added the Danish view.

Denmark has transposed the fifth Anti-Money Laundering Directive (AMLD5) and included providers of exchange services between virtual currencies and fiat currencies, providers of virtual wallets, providers of exchanges services between virtual currencies, providers of virtual currency transfers and issuers if virtual currencies.

Specific regulation of crypto-assets except for AML related regulation has not at this stage been introduced in Denmark. The Danish Financial Supervisory Authority (“Danish FSA”) has – also triggered by MiCAR - established a crypto-asset focus group with the aim of supporting an efficient supervision on the crypto-asset area. The focus group will be contributing with input on guidance and risk assessments and generally supporting the Danish FSA in this supervision of crypto-assets.

The full Road to MiCAR is available here