On June 24 – June 26, 2021 KIELTYKA GLADKOWSKI KG LEGAL is taking part in the Global DeFi Summit devoted to decentralized finance and the future of financial markets.
Produced by Blockchain Venture Studio Draper Goren Holm, the Global DeFi Summit is 2021’s leading annual gathering of DeFiers in the blockchain and cryptocurrency community.
The event is gathering an unparalleled group of DeFi innovators and change-makers to share their stories about how they are defining the next era of global finance.
Some of the topics discussed will be: the current state of DeFi; the rise of Dubai as the global hub of DeFi; the evolving landscape of venture capital in decentralized finance; how DeFi micro-loans will empower 3rd world countries; the current state of DeFi on Tezos Blockchain.
KIELTYKA GLADKOWSKI KG LEGAL has extensive experience in advising within the sector of decentralised finance, smart contracts, blockchains, DApps, flash loans, and all aspects of transactions.
On June 22-23 2021, Małgorzata Kiełtyka and Jakub Gładkowski from KG LEGAL Kiełtyka are taking part in an event “FINCRIME WORLD FORUM 2021” dedicated to the Financial crime phenomenon. This event is organised by GRC World Forum. Financial Crime is a complex, multi-faceted and ever evolving global issue which has become increasingly sophisticated in nature. All around the world countries are facing rising economic and social costs due to human trafficking, money laundering, terrorist financing, corruption, drug smuggling, tax evasion, and other illegal activities which ultimately threaten our prosperity and collective security. As the financial crime landscape evolves, the growing threat to firms and their customers is undeniable. FinCrime World Forum brings together a globally engaged audience to discuss, challenge debate and address how we can make the world a safer place. FinCrime World Forum will foster engaging and informative conversation on the following topics:
Due to the constant development of businesses and the fact that they are, more and more often, operating from several countries around the world at once, legal regulations concerning the posting of workers in the framework of the provision of services have appeared. This model is profitable for the businesses, because they can move their biggest ‘talents’ to offices and countries that could use their abilities in the best way. For the employees, on the other hand, it could pose a chance for development and give them a possibility to move abroad without having to look for another job. Initiatives like this are supported by the European Union – in 2019 they even issued a practical guide on posting (link)
Law regulations
Issues concerning global mobility are regulated, among others, by the Directive 96/71/EC of the European Parliament and of the Council of 16 December 1996 concerning the posting of workers in the framework of the provision of services, OJ L 018 21.1.1997, p. 1-9 (later: Directive 96/71/EC), Directive 2014/67/EU of the European Parliament and of the Council of 15 May 2014 on the enforcement of Directive 96/71/EC concerning the posting of workers in the framework of the provision of services and amending Regulation (EU) No 1024/2012 on administrative cooperation through the Internal Market Information System ( ‘the IMI Regulation’ ) Text with EEA relevance, OJ L 159, 28.5.2014, p. 11–31 (later: Directive 2014/67/EU) and in Directive (EU) 2018/957 of the European Parliament and of the Council of 28 June 2018 amending Directive 96/71/EC concerning the posting of workers in the framework of the provision of services (Text with EEA relevance), OJ L 173, p. 16-24 (later: Directive 2018/957).
The Annual General Meeting will be held online, during which decisions will be made, among others, on the expanding cross-border cooperation and new opportunities to increase law firm legal services as part of participation in life science organizations of the association.
BioLawEurope F.m.b.A comprises a network of independent law firms, i.e. a collective number of licensed attorneys operating nationally under a common trademark or name, but not necessarily in the form of a corporation, and individual attorneys registered and licensed in one or more European jurisdictions and specialized in the rendering of legal services to commercial as well as non-profit based natural and legal persons, including universities and organizations operating, investing in and/or servicing biotech, pharma, food supplement, medical device and/or dentistry industry related.
Official announcements from financial market regulators in individual European Union countries confirm the legality of individual challenger and mobile banks as electronic money institutions. One example is Revolut Ltd based in the UK, whose legal status in Europe before BREXIT is that of an electronic money institution established in the UK. Prior to Brexit, receipt of a UK licence granted by the relevant regulator, the Financial Conduct Authority, authorised Revolut to engage in the business of issuing electronic money and providing payment services, including maintaining payment accounts and executing payment transactions. Under the EU freedom to provide services and on the basis of the so-called “single European passport”, challenger and mobile banks such as Revolut Ltd are entitled to operate on the territory of other EU member states, including Poland (according to the notification received by the Polish Financial Supervision Authority from the Financial Conduct Authority on 06 June 2016).
However, the legality of operations is not related to the possibility of proper control and protection of end users using the services of challenger and mobile banks. In view of the above, for example, the Polish Financial Supervision Authority does not have the legal and operational capabilities to identify potential improper practices or actions of such entities at an early enough stage to prevent infringements of the interests of their Polish customers.
Regardless of doubts whether the use of challenger and mobile banks is supervised and safe for customers, the legality of such cryptocurrency services is becoming an everyday reality.
