The Securities Law Program (SLP) at Catholic Law held a discussion with Mark Browne, partner and Head of the Asset Management and Funds practice of the Irish law firm Clerkin Lynch LLP. The discussion focused on the regulation of cryptocurrencies in the European market and was moderated by Jack Murphy, director of SLP.

The markets for cryptocurrencies and other assets are global and therefore are cross-border by their very nature. In many jurisdictions, including the United States, the approach to regulating crypto assets has been undertaken piecemeal, as regulators and legislators have struggled to develop a set of rules that protects investors without discouraging innovation in the marketplace.

Mr. Browne reviewed recent steps taken by the European Union toward effective regulation of the crypto sector, which are embodied in the Markets in Crypto Assets regulation, known as “MiCA”, which is due to take effect in 2024. He described the substantive provisions of the regulation and their possible impact on the crypto markets, noting that the enactment of MiCA makes the EU the first major jurisdiction in the world to introduce comprehensive, tailored rules for the crypto sector. Following the discussion, Browne took questions from the students in attendance and discussed career paths in the cryptocurrency space.