{"id":1677,"date":"2023-07-04T07:44:43","date_gmt":"2023-07-04T07:44:43","guid":{"rendered":"https:\/\/www.czechbankingnews.cz\/?p=1677"},"modified":"2023-07-04T07:44:43","modified_gmt":"2023-07-04T07:44:43","slug":"eu-zacala-regulovat-trh-s-kryptoaktivy","status":"publish","type":"post","link":"https:\/\/www.czechbankingnews.cz\/?p=1677","title":{"rendered":"EU za\u010dala regulovat trh s kryptoaktivy"},"content":{"rendered":"

Na\u0159\u00edzen\u00ed o trz\u00edch s kryptoaktivy (MiCA) vstoupilo v platnost 29. \u010dervna. Evropsk\u00e1 unie se tak stala jednou z prvn\u00edch jurisdikc\u00ed na sv\u011bt\u011b, kter\u00e1 ustanovuje pr\u00e1vn\u00ed r\u00e1mec pro obchodov\u00e1n\u00ed s digit\u00e1ln\u00edmi aktivy. <\/strong><\/p>\n

Na\u0159\u00edzen\u00ed MiCA bude upravovat p\u0159edev\u0161\u00edm ty oblasti, na kter\u00e9 se nevztahuj\u00ed st\u00e1vaj\u00edc\u00ed pr\u00e1vn\u00ed p\u0159edpisy v oblasti finan\u010dn\u00edch slu\u017eeb.<\/p>\n

Hlavn\u00edch d\u016fvod\u016f, pro\u010d byla pravidla v\u00a0r\u00e1mci na\u0159\u00edzen\u00ed MiCA p\u0159ijata, je n\u011bkolik. V\u00a0prvn\u00ed \u0159ad\u011b jde o\u00a0ochranu investor\u016f, dr\u017eitel\u016f kryptoaktiv. D\u00edky nov\u00fdm p\u0159edpis\u016fm by m\u011bl b\u00fdt rovn\u011b\u017e l\u00e9pe chr\u00e1n\u011bn trh. Na\u0159\u00edzen\u00ed sou\u010dasn\u011b stanovuje povinnosti pro vydavatele kryptoaktiv a\u00a0harmonizovan\u00e1 pravidla obchodov\u00e1n\u00ed. Spole\u010dn\u011b s\u00a0dal\u0161\u00edm p\u0159ijat\u00fdm na\u0159\u00edzen\u00edm EU \u0159e\u0161\u00ed i ot\u00e1zku pran\u00ed \u0161pinav\u00fdch pen\u011bz v\u00a0oblasti digit\u00e1ln\u00edch financ\u00ed.<\/p>\n

\u201eP\u0159ijet\u00ed na\u0159\u00edzen\u00ed znamen\u00e1 prvn\u00ed kroky k\u00a0vytvo\u0159en\u00ed r\u00e1mce pro trh s\u00a0kryptoaktivy v\u00a0Evrop\u011b. C\u00edlem je investor\u016fm poskytnout jistotu a subjekt\u016fm poskytuj\u00edc\u00edm slu\u017eby kryptoaktiv, kter\u00e9 p\u016fsob\u00ed na jednotn\u00e9m trhu EU, zase p\u0159edv\u00eddateln\u00fd r\u00e1mec. Pro \u00fasp\u011b\u0161n\u00e9 zaveden\u00ed nov\u00fdch pravidel v\u00a0praxi bude nyn\u00ed pot\u0159eba \u00fazk\u00e1 spolupr\u00e1ce mezi firmami a p\u0159\u00edslu\u0161n\u00fdmi st\u00e1tn\u00edmi org\u00e1ny. C\u00edlem je, aby nov\u011b zav\u00e1d\u011bn\u00fdm p\u0159edpis\u016fm v\u0161ichni spr\u00e1vn\u011b rozum\u011bli. Pr\u00e1v\u011b srozumitelnost bude u\u00a0po\u017eadavk\u016f na ud\u011blov\u00e1n\u00ed licenc\u00ed a obecn\u011b u dohledu nad trhem st\u011b\u017eejn\u00ed,\u201c<\/em> popisuje Ond\u0159ej Kova\u0159\u00edk<\/strong> z\u00a0frakce Renew Europe, kter\u00fd je z\u00e1rove\u0148 st\u00ednov\u00fdm zpravodajem na\u0159\u00edzen\u00ed.<\/p>\n

MiCa a kryptoaktiva. Kter\u00fdch se t\u00fdk\u00e1 a kter\u00fdch ne?<\/strong><\/p>\n

Na\u0159\u00edzen\u00ed MiCA se ale net\u00fdk\u00e1 zdaleka v\u0161ech kryptoaktiv. Nedot\u00fdk\u00e1 se nap\u0159\u00edklad pen\u011b\u017en\u00edch prost\u0159edk\u016f (v\u010detn\u011b elektronick\u00fdch pen\u011bz), penzijn\u00edch produkt\u016f ani produkt\u016f ne\u017eivotn\u00edho a\u00a0\u017eivotn\u00edho poji\u0161t\u011bn\u00ed nebo kup\u0159\u00edkladu ani v\u00a0posledn\u00ed dob\u011b popul\u00e1rn\u00edch NFT. \u201eMiCA se net\u00fdk\u00e1 ani finan\u010dn\u00edch n\u00e1stroj\u016f ve smyslu sm\u011brnice MiFID II. Dopad bude m\u00edt na takzvan\u00e9 stablecoiny, tedy tokeny v\u00e1zan\u00e9 na aktiva, takzvan\u00e9 ARTs, d\u00e1le na elektronick\u00e9 pen\u011b\u017en\u00ed tokeny zn\u00e1m\u00e9 pod zkratkou EMTs a tak\u00e9 na r\u016fzn\u00e1 jin\u00e1 kryptoaktiva,\u201c<\/em> dod\u00e1v\u00e1 Kova\u0159\u00edk.<\/p>\n

Na\u0159\u00edzen\u00edm se budou muset \u0159\u00eddit poskytovatel\u00e9 slu\u017eeb souvisej\u00edc\u00edch s\u00a0kryptoaktivy v\u00a0Evropsk\u00e9 unii, vydavatel\u00e9 kryptoaktiv nab\u00edzej\u00edc\u00ed kryptoaktiva ve\u0159ejnosti \u010di \u017e\u00e1daj\u00edc\u00ed o p\u0159ijet\u00ed t\u011bchto kryptoaktiv na obchodn\u00ed platformu v\u00a0EU a tak\u00e9 osoby vykon\u00e1vaj\u00edc\u00ed aktivity, kter\u00e9 by mohly naplnit definici zneu\u017e\u00edv\u00e1n\u00ed trhu s\u00a0kryptoaktivy.<\/p>\n

\u201ePoskytovatel\u00e9 slu\u017eeb souvisej\u00edc\u00edch s\u00a0kryptoaktivy budou nov\u011b muset obdr\u017eet licenci. Tu z\u00edskaj\u00ed, spln\u00ed-li n\u011bkolik podm\u00ednek. Mus\u00ed m\u00edt s\u00eddlo v\u00a0\u010dlensk\u00e9m st\u00e1t\u011b EU, z\u00e1rove\u0148 mus\u00ed dolo\u017eit program \u010dinnosti, syst\u00e9mu \u0159\u00edzen\u00ed, spr\u00e1vy, znalost\u00ed, kvalifikace a zku\u0161enost\u00ed \u010dlen\u016f vedouc\u00edho org\u00e1nu. Nutn\u00fd bude tak\u00e9 popis vnit\u0159n\u00ed kontroly, IT syst\u00e9m\u016f a odd\u011blen\u00ed finan\u010dn\u00edch prost\u0159edk\u016f \u017eadatele a jeho klient\u016f,\u201c<\/em> dopl\u0148uje Kova\u0159\u00edk.<\/p>\n

Vydavatel\u00e9 ur\u010dit\u00fdch digit\u00e1ln\u00edch aktivit budou m\u00edt rovn\u011b\u017e povinnost zve\u0159ej\u0148ovat takzvan\u00fd whitepaper n\u011bkter\u00e9mu z\u00a0org\u00e1n\u016f dohledu. Z\u00a0t\u00e9to povinnosti bude osvobozen poskytovatel, kter\u00fd kryptoaktiva nab\u00edz\u00ed m\u00e9n\u011b ne\u017e 150\u00a0osob\u00e1m v\u00a0jednom \u010dlensk\u00e9m st\u00e1t\u011b, kde tyto osoby jednaj\u00ed na vlastn\u00ed \u00fa\u010det, nebo pokud po dobu 12 m\u011bs\u00edc\u016f celkov\u00e1 hodnota protipln\u011bn\u00ed u ve\u0159ejn\u00e9 nab\u00eddky kryptoaktiv nep\u0159ekro\u010d\u00ed milion eur, p\u0159\u00edpadn\u011b pokud je ve\u0159ejn\u00e1 nab\u00eddka kryptoaktiv ur\u010dena v\u00fdhradn\u011b kvalifikovan\u00fdm investor\u016fm.<\/p>\n

\u201eNov\u011b se d\u00edky na\u0159\u00edzen\u00ed MiCA povinnosti t\u00fdkaj\u00edc\u00ed se vyd\u00e1v\u00e1n\u00ed jin\u00fdch kryptoaktiv neaplikuj\u00ed na jejich ve\u0159ejnou nab\u00eddku, jsou-li nab\u00edzena bezplatn\u011b nebo jsou-li vytv\u00e1\u0159ena automaticky prost\u0159ednictv\u00edm tr\u017eby kryptom\u011bn jako odm\u011bna za \u00fadr\u017ebu DLT nebo validaci transakc\u00ed, p\u0159\u00edpadn\u011b pokud se nab\u00eddka t\u00fdk\u00e1 u\u017eitn\u00e9ho tokenu zbo\u017e\u00ed \u010di slu\u017eby, kter\u00e9 existuj\u00ed nebo jsou v\u00a0provozu,\u201c<\/em> p\u0159ibli\u017euje Kova\u0159\u00edk.<\/p>\n

Probl\u00e9my s\u00a0p\u0159\u00edli\u0161nou regulac\u00ed a byrokraci\u00ed<\/strong><\/p>\n

A\u010dkoliv je vyd\u00e1n\u00ed dokumentu krok spr\u00e1vn\u00fdm sm\u011brem, nen\u00ed MiCa podle Kova\u0159\u00edka dokonal\u00e1 a\u00a0v\u00a0budoucnosti bude zapot\u0159eb\u00ed ji aktualizovat. \u201eZ\u00a0m\u00e9ho pohledu existuje probl\u00e9m u\u00a0takzvan\u00fdch stablecoin\u016f. Rozum\u00edm tomu, \u017ee je nutn\u00e9 je regulovat p\u0159\u00edsn\u011bji ne\u017e ostatn\u00ed tokeny, a\u00a0to p\u0159edev\u0161\u00edm takov\u00e9, kter\u00e9 maj\u00ed ambici st\u00e1t se \u0161\u00ed\u0159eji akceptovan\u00fdm platidlem, av\u0161ak jejich regulace je na m\u016fj vkus velmi p\u0159\u00edsn\u00e1. Proto je ot\u00e1zkou, jestli takto p\u0159ijat\u00fd dokument povede k\u00a0rozvoji stablecoinu v\u00a0EU, nebo bude tento sektor sp\u00ed\u0161e omezen,\u201c<\/em> popisuje Kova\u0159\u00edk, jen\u017e rovn\u011b\u017e kritizuje p\u0159\u00edsnost na\u0159\u00edzen\u00ed u po\u017eadavk\u016f na poskytovatele slu\u017eeb kryptoaktiv. MiCa podle n\u011bj p\u0159\u00edli\u0161 nerozli\u0161uje mezi velk\u00fdmi a mal\u00fdmi hr\u00e1\u010di. Podle Kova\u0159\u00edka je na v\u0161echny akt\u00e9ry kladeno mnoho nov\u00fdch po\u017eadavk\u016f a je velmi pravd\u011bpodobn\u00e9, \u017ee zejm\u00e9na pro \u00fapln\u011b nejmen\u0161\u00ed firmy bude cel\u00fd licen\u010dn\u00ed proces n\u00e1kladn\u00fd a p\u0159\u00edli\u0161 zat\u011b\u017euj\u00edc\u00ed, z\u00e1rove\u0148 by se m\u011bl v budoucnu vyhodnotit a p\u0159\u00edpadn\u011b upravit.<\/p>\n

Zdroj:<\/strong><\/p>\n

Ond\u0159ej Kova\u0159\u00edk<\/strong>
\nPoslanec Evropsk\u00e9ho parlamentu<\/p>\n","protected":false},"excerpt":{"rendered":"

Na\u0159\u00edzen\u00ed o trz\u00edch s kryptoaktivy (MiCA) vstoupilo v platnost 29. \u010dervna. Evropsk\u00e1 unie se tak stala jednou z prvn\u00edch jurisdikc\u00ed na sv\u011bt\u011b, kter\u00e1 ustanovuje pr\u00e1vn\u00ed […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":1346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[],"class_list":["post-1677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislativa"],"_links":{"self":[{"href":"https:\/\/www.czechbankingnews.cz\/index.php?rest_route=\/wp\/v2\/posts\/1677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.czechbankingnews.cz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.czechbankingnews.cz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.czechbankingnews.cz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.czechbankingnews.cz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1677"}],"version-history":[{"count":2,"href":"https:\/\/www.czechbankingnews.cz\/index.php?rest_route=\/wp\/v2\/posts\/1677\/revisions"}],"predecessor-version":[{"id":1679,"href":"https:\/\/www.czechbankingnews.cz\/index.php?rest_route=\/wp\/v2\/posts\/1677\/revisions\/1679"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.czechbankingnews.cz\/index.php?rest_route=\/wp\/v2\/media\/1346"}],"wp:attachment":[{"href":"https:\/\/www.czechbankingnews.cz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.czechbankingnews.cz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.czechbankingnews.cz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}