The payments landscape is evolving. The traditional bank-backed payment methods are being significantly reshaped by technical developments and consumer preferences. Increasingly, people are turning to crypto-assets as a source of disruptive innovation – which is something that the likes of card giants Visa and Mastercard have noticed too.
As offerings from crypto markets continue to expand at pace, the concerns around consumer protection grow along with it. In September 2020, the European Commission unveiled its long-awaited regulatory proposal for crypto-assets – the Markets in Crypto Assets (MiCA) regulation. However, while it brings the benefits of access to over 400 million consumers – it will also mean an additional compliance burden. What’s more, as firms get to grips with new crypto rules, they will also need to comply with ever-expanding regulations to combat anti-money laundering, considering tighter rules for crypto service providers in the fifth anti-money laundering directive.
What is clear is the challenge for payment organisations to balance innovation with regulation, being able to tap into the opportunities posed by crypto, while mitigating the risks.
So What Do I Need To Know?
Join VIXIO Payments Compliance and guest speakers from Gemini, Mackrell. Solicitors and the European Parliament on May 20 when we discuss how you can help your business come up to speed with:
• What the future holds for cryptocurrencies, and why it’s time to pay attention.
• What the new rules are likely to mean for the EU and beyond, and how you can make the most of the opportunities.
• How to navigate increasing anti-money laundering compliance burden, and ensure it becomes business as usual.
Register here: https://go.vixio.com/l/77152/2021-05-07/bjpwln
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