Tags: Banking & Finance
As from 1 May 2022, the activities of certain virtual currency service providers in Belgium will be regulated. These service providers will have to meet a series of conditions, including ones relating to their professional integrity and anti-money laundering obligations.
On 19 April 2021, a draft law on diverse financial provisions (the “Draft Law”) was published. The Draft Law was adopted by the Parliament at the end of May. Amongst other things, it amends the Belgian AIFM Law to integrate the ELTIF fund status. Together with its parliamentary works, the Draft Law finally provides some clarity on this vehicle’s place in the existing Belgian fund framework.
In recent years, Special Purpose Acquisition Companies or “SPACs” have gained tremendous popularity in the United States. In 2020 alone, one hundred SPACs accounted for approximately $80 billion in US public fundraising.
The EU adopted the Second Payment Services Directive (PSDII) to level the playing field in the payment services industry by introducing the principle of “open banking”.