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Proposal for a Regulation on Markets in Crypto-Assets and Consumer Protection in Distance Marketing
Abstract
The paper addresses the issue of current consumer protection in the distance marketing of crypto-assets. The conclusion reached in the text is that the consumer is currently protected by the regulation contained in Directive 2002/65/EC of the European Parliament and of the Council of 23 September 2002 concerning the distance marketing of consumer financial services. The paper also addresses the issue of consumer protection in the distance marketing of crypto-assets after the approval and entry into force of MiCAR. In particular, it addresses the issue of the coordination of what is provided for in Directive 2002/65/EC and what is provided for in MiCAR. The proposed solution is articulated. MiCAR, in fact, provides for different rules depending on the types of tokens and depending on the types of transactions. The text considers that in some cases, what is provided for in the directive may continue to apply, while in others, only what is provided for in MiCAR should be applied
Keywords
- Crypto-Activities
- Consumer Protection
- Distance Marketing of Consumer Financial Services
- Duties of Information to Consumers
- Consumer Right of Contractual Withdrawal