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Main Data
Author: Josef Bergt
Title: & Ofertas de Token y Centros de Comercio Descentralizados Un análisis del derecho civil de valores y la legislación de su-pervisión de valores desde la perspectiva de Liechtenstein, con especial referencia a los actos pertinentes de la Unión
Publisher: Books on Demand
ISBN/ISSN: 9783751913096
Edition: 1
Price: CHF 33.40
Publication date: 01/01/2020
Content
Category: Recht/Jurisprudenz
Language: Spanish
Technical Data
Pages: 452
Kopierschutz: Wasserzeichen
Geräte: PC/MAC/eReader/Tablet
Formate: ePUB
Table of contents
Este libro fue traducido del alemán al español por medio de la inteligencia artificial (traducción automática). This book was translated from German into Spanish by means of artificial intelligence (machine translation). This academic paper deals with both civil (securities) law and regulatory (securities) law aspects. Thus, a summary of the property law is provided, which deals with the classification of tokens under Liechtenstein law. Furthermore, dematerialized securities, which have been known to the Liechtenstein legal system for almost 100 years, will be dis-cussed. The civil and corporate law focus is on Liechtenstein, while the Swiss corporate law and the general civil law of Austrian law are also taken into account. The supervisory part of the work is clearly in the focus of Union law, but also takes into account national specialties of Liechtenstein, Austria and Germany in addition to European legal acts. Thus, tokens and token-based business models are also examined in the light of European legal acts such as MiFIR, MiFID II, CRR, CRD IV, CSDR, EMIR, AIFMD, UCITSD, E-Money Directive II, PSD II, MAD/MAR, Prospectus Regulation, 5th AML Directive and other regulations, directives, as well as implementing regulations and delegated regulations. A special focus is placed on crypto exchanges and decentralized trading places (DEX). In addition, a focus will be placed on consumer law in terms of tokens and distance selling contracts, taking into account the Consumer Rights Directives. In this context, tokens as data or software and thus as digital content and consequently merchandise are also dealt with in more detail and the parallels to tokens as tokens with intrinsic value or virtual currencies in contrast to fiat money are shown. Furthermore, the author aims at explaining deposit business, e-money transactions and financial instruments as communicating vessels in contrast to virtual currencies. Although this is primarily a legal work, technical aspects of Distributed Ledger Technologies, such as the blockchain, smart contracts, agoric computing, self-sovereign identity, etc. - as far as this is necessary for the legal assessment - are also explained in more detail. The present discussion is to be understood as scientific work with practical relevance for advice in connection with blockchain based business models.

Dr. Josef Bergt is an expert on "New Economy Law" and as such is specialized in the fields of European and Liechtenstein Corporate, Banking and Financial Markets Law and has a comprehensive expertise in connection with the regulatory framework of capital markets, in particular regarding Distributed Ledger Technology (DLT), as well as its variations such as Blockchain, Directed Acyclic Graphs (DAG), Hashgraph, Holochain, etc., including Token Sales and Offerings such as Initial Coin Offerings, Token Generating Events and Security Token Offerings (ICO/TGE/STO). Josef Bergt also has extensive knowledge on the formation and licensing of regulated financial institutions and financial intermediaries as well as with the preparation of securities prospectuses and the approval procedure by the relevant regulatory authorities. In addition, he has experience in litigation in civil and commercial law. He also has in-depth knowledge of data protection and intellectual property rights. With regards to academia Josef Bergt wrote his doctoral thesis dealing with Liechtenstein corporate law at the Private University of the Principality of Liechtenstein (UFL). Furthermore, Josef Bergt visited the LLM programme for Corporate, Foundation and Trust Law and the LLM programme for Banking and Finance at the University of Liechtenstein. Josef Bergt was part of the team providing policy recommendations for an EU Token Regulation Paper through thinkBLOCKtank asbl and in that regard also participated in the public consultation for an EU framework for markets in crypto-assets. Josef Bergt is also a supporter of the Liechtenstein blockchain scene and the Liechtenstein Blockchain Act (Token and Trusted Technologies Service Providers Act, TTTA; Gesetz über Token und vertrauenswürdige Technologie-Dienstleister, TVTG).
Table of contents

Lista de abreviaturas


aA opinión discrepante
ibid. en el lugar declarado/especificado
OJ C Diario Oficial de la Unión Europea (avisos y anuncios)
OJ L Diario Oficial de la Unión Europea (legislación)
TFEU Tratado sobre el funcionamiento de la Unión Europea
aF versión antigua
AIFMD Directiva de Gestores de Fondos de Inversión Alternativa 2011/61/UE
Nota Nota
API Interfaz de programación de aplicaciones
ATS sistema comercial alternativo
BankG Ley de Banca (Liechtenstein)
BTC Bitcoin
BuA Informe y solicitud del Gobierno al Parlamento del Principado de Liechtenstein
BWG Ley de Banca (Austria)
CCP Contraparte central (cámara de compensación)
CFD contrato por diferencia
CRD Directiva sobre requisitos de capital (CRD IV, 2013/36/UE; CRD III, 2006/48/EC)
CRR Reglamento sobre requisitos de capital EU/575/2013
CSDR Reglamento sobre depósitos centrales de valores EU/909/2014
DAO Organización autónoma descentralizada
Reglamento Del Reglamento delegado
DEX intercambio descentralizado
DGSD Directiva sobre sistemas de garantía de depósitos 2014/49/UE
DLT Tecnología Ledger distribuida
DVO Reglamento de aplicación
DvP entrega contra pago
EAG Ley de protección de los depósitos y de indemnización de los inversores (Liechtenstein)
EBA Autoridad Bancaria Europea
por ejemplo ejemplo gratuito
EGG Ley sobre el dinero electrónico (Liechtenstein)
ELI Identificador de la legislación europea
EMD / Directiva de dinero electrónico Directiva sobre el dinero electrónico / Directiva sobre el dinero electrónico (Directiva sobre el dinero electrónico II, 2009/110/CE; Directiva sobre el dinero electrónico I, 2000/46/CE)
EMIR Reglamento sobre la infraestructura del mercado europeo EU/648/2012
ESMA Autoridad Europea de Valores y Mercados
etc... etcétera perge, perge
ETH Éter
BCE Banco Central Europeo
FAGG Ley sobre la distancia y el comercio exterior (Liechtenstein)
FCA Autoridad de Conducta Financiera (Reino Unido)
FernFinG Ley de servicios financieros a distancia (Liechtenstein)
ff / et seqq Continuando / et sequentes
FINMA Autoridad Suiza de Supervisión de los Mercados Financieros (CH)
BaFin Instituto Federal de
Supervisión de servicios financieros
FMA Autoridad del mercado financiero (Liechtenstein o Austria)
FMAG Ley de supervisión de los mercados financieros (Liechtenstein; enmendada por la BuA 2019/93 y la LGBl 2019.303)
FN Nota al pie de página
GewG Ley de comercio (Liechtenstein; enmendada por la BuA 2019/93 y LGBl 2019.305)
GRC Carta de Derechos Fundamentales
GW-RL Directiva sobre el blanqueo de capitales (5ª Directiva sobre el blanqueo de capitales, 2018/843; 4ª Directiva sobre el blanqueo de capitales, 2015/849)
Ibídem / ibídem Ibidem / ibidem
IDD Directiva de distribución de seguros EU/2016/97
Idem / ders el mismo
idF en la versión
idS en ese sentido
es decir, id est
iSd a los efectos de
ITS Aplicación de normas técnicas
IUG Ley de empresas de inversión (Liechtenstein)
iVm junto con
JCD (EEA) Decisión del Comité Mixto (Decisión del Comité Mixto del EEE)
Cláusula Directiva Cláusula Directiva 93/13/CEE
KMG Ley del mercado de capitales (Austria)
KSchG Ley de protección del consumidor (Liechtenstein)
KWG Ley de Banca (Alemania)
pierna cit legis citatae
LES Colección de decisiones de Liechtenstein
LGBl Boletín de Derecho Nacional (Liechtenstein)
LJZ Diario de los abogados de Liechtenstein
MAD Directiva sobre el abuso del mercado 2014/57/UE
MAR / MMVO Reglamento sobre el abuso del mercado EU/596/2014
MiFID