Training Objectives

By the end of the programme, participants will:

• understand what Blockchain is, how it functions and its features and characteristics
• understand blockchain governance and be able to explore the various Consensus Mechanisms
• understand Smart Contracts and Decentralised Applications (Dapps)
• comprehend the legal classification of tokens
• understand Tokens and Asset Tokenisation on blockchain
• discuss about Central Bank Digital Currency (CBDC)
• explore the most important developments in relation to Blockchain and crypto- assets regulation (we discuss, among others, MiCAR, DLT pilot regime, Travel Rule and AML regarding crypto-asset services)
• become familiar with ICOs, STOs and other models of token offerings
• explore the Crypto-Asset Service Providers (CASPs) registration

Training Outline

Introduction

• An overview of Blockchain Technology: What is it and how it works
• Blockchain Evolution
• Blockchain features and unique characteristics
• Smart Contracts
• Decentralized Applications (Dapps)
• Applications of Blockchain: Cryptocurrencies

Cryptocurrencies

• Crypto-Assets vs Cryptocurrencies
• Types of cryptocurrencies: Bitcoin, Altcoins, Stablecoins, CBDCs
• Tokenization and tokenized economy
• Legal Classification of Tokens:

– Fungible Tokens Vs Non-Fungible Tokens (NFTs)

– Payment Tokens

– Utility Tokens

– Security Tokens

– Stablecoins

– MiCAR classification

– interaction and relationship between MiCAR token classification and industry token classification

An overview of crypto-assets regulatory environments

• Why regulation matters?
• What are the issues policymakers and governments are worried about?
• The key actors in the space: International Bodies, Regional Bodies, Governmental Bodies
• Discussing selective regulatory initiatives (FATF recommendations, European and Member States’ initiatives)
• The EU AML legislative package
• Regulation (EU) 2015/847 on Information Accompanying Transfer of Funds and Certain Crypto Assets (Recast) expanding traceability requirements to crypto-assets (TFR) [travel rule regulation]
• Markets in Crypto-Assets Regulation (MICA Regulation)
• DLT Pilot regime for market infrastructures
• Digital Operational Resilience Act (DORA)
• Instant payments regulation
• A revised Payment Services Directive (PSD2): PSD3
• Cyprus Blockchain Strategy
• Cyprus Blockchain regulatory environment
• Central Bank Digital Currency (CBDC) – A Digital Euro?

Initial Coin Offerings (ICOs) and Securities Token Offerings (STOs)

• Initial Public Offering (IPO) Vs Initial Coin Offering (ICO)
• Initial Coin Offering (ICO) and Security Token Offering (STO)
• Use case: real estate tokenisation
• What is an ICO and what it involves: Risks and warnings
• The legal process of conducting an ICO or STO
• Other models of token offerings
• Legal, regulatory and technical challenges

Who Should Attend

This course is suitable for people from all kinds of backgrounds who are interested in learning about Blockchain regulation and policy.

It is also ideal for:

• EU Lawyers
• Third-country Lawyers
• Legal Advisors
• Attorneys of the Republic
• Internal Lawyers (working in any legal department of an organization or government)
• Legal Services Professionals
• Graduate Lawyers
• Junior Lawyers
• Law Students
• Law Researchers
• Law Drafters
• Legal Projects Managers
• Compliance officers
• Financial advisors
• Government Agencies
• HR Managers
• Corporate Administrators
• Strategy Managers
• Technology Strategy Leaders
• Digital Transformation Heads, Officers and Team Members
• Innovation Leaders and members of Innovations labs
• Project Managers and Associate Project Managers
• Legal Analysts
• Executives and senior managers

Training Style

The programme is designed to deliver theoretical knowledge mainly via a lecture supported by power-point presentations.  At the end of the programme, participants will benefit from a Q&A session.

Knowledge Test

At the completion of the knowledge areas, participants will be assessed via the form of Multiple-Choice Questions which will consist of questions related to the material taught. The aim of the assessment is to examine participants’ overall attention and knowledge of material taught as well as their competencies towards the implementation of practical cases.

CPD Recognition

This programme may be approved for up to 14 CPD units in Blockchain and Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.

For the CySEC requirements, CPD units attained from this course should not exceed the 50% of the total CPD Units of each individual.

In-house Training

For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.