Editorial team · Author profile
Marcus Reid
Contributing Analyst · Crypto Law Index
8+ years in regulatory practice and analysis
About Marcus
Marcus contributes regulatory-deep-dive analysis on prudential capital, ICT resilience, and supervisory practice. Before joining the publication as a contributor he spent five years at the European Banking Authority on the prudential-policy desk, working on Basel III implementation and DORA technical standards. His articles focus on the practical effect of new regulations on small and mid-sized regulated firms.
Credentials
- Ph.D., Financial Economics, London School of Economics
Education
- Ph.D., Financial Economics, London School of Economics
- M.Sc., Economics, University College London
- B.Sc., Economics, University of Bath
Specialties
- Prudential capital regulation
- DORA ICT resilience
- Basel III implementation
- Supervisory practice analysis
Articles by Marcus · 29
Hungary MNB CASP Authorisation 2026 — Practitioner Guide
Hungary designated the Magyar Nemzeti Bank (MNB) as the MiCA supervisor via 2024 amendments to the Investment Services Act. MNB ap…
jurisdictionRomania ASF CASP Authorisation 2026 — Practitioner Guide
Romania transposed MiCA via Law 122/2024, designating the ASF (Financial Supervisory Authority) as the CASP supervisor. Large East…
jurisdictionBelgium FSMA CASP Authorisation 2026 — Practitioner Guide
Belgium transposed MiCA through the Law of 20 December 2024, designating the FSMA as the CASP supervisor and the NBB as the AML-si…
aml travel ruleDAC8 Crypto-Asset Reporting for CASPs — 2026 Compliance
DAC8 brings crypto-asset transactions into the EU's automatic tax-information-exchange framework. CASPs must report customer data …
jurisdictionSweden Finansinspektionen CASP Authorisation 2026 — Practitioner Guide
Sweden transposed MiCA through Securities Market Act amendments, designating Finansinspektionen (FI) as the CASP supervisor. The S…
jurisdictionItaly CONSOB CASP Authorisation 2026 — Practitioner Guide
Italy transposed MiCA via Legislative Decree 129/2024, dividing supervision between CONSOB (conduct, consumer protection) and Banc…
jurisdictionLuxembourg CSSF CASP Authorisation 2026 — Practitioner Guide
Luxembourg designated the CSSF as the MiCA CASP supervisor. The CSSF's investment-firm tradition shapes its application standards …
jurisdictionPortugal CMVM CASP Authorisation 2026 — Practitioner Guide
Portugal designated the CMVM as the MiCA CASP supervisor, with the Banco de Portugal retaining AML oversight. The pre-MiCA VASP re…
jurisdictionSpain CNMV CASP Authorisation 2026 — Practitioner Guide
Spain implemented MiCA via Royal Decree-Law 7/2025, designating the CNMV as the CASP supervisor. The transitional regime gave pre-…
jurisdictionFINMA Token Classification: Payment, Utility, Asset Tokens
Switzerland classifies crypto tokens into three categories — payment, utility, and asset — under FINMA's 2018 ICO Guidelines. The …
jurisdictionHong Kong SFC VASP Licence: 2026 Practitioner Guide
Hong Kong licenses virtual-asset service providers through the SFC under the AML Ordinance regime that took effect on 1 June 2023.…
jurisdictionSingapore MAS Crypto Licensing: 2026 Practitioner Guide
Singapore licenses crypto firms through the Payment Services Act 2019, supervised by the MAS. The regime is deliberate, narrow, an…
company formationCzech s.r.o. Company Formation for a Crypto Business
A Czech crypto setup starts by forming an s.r.o. — the private limited company, available with a symbolic CZK 1 minimum capital. I…
comparisonEstonia vs Lithuania for a CASP Licence: Which to Choose
Estonia and Lithuania were Europe's busiest crypto-licensing hubs in turn — Estonia first, then Lithuania after Estonia tightened.…
company formationLithuania UAB Company Formation for a Crypto Business
A Lithuanian crypto setup starts with forming a UAB — the private limited company. It is a cheap, fast corporate step with a €1,00…
company formationIreland Company Formation for Crypto: the LTD and the Licence
An Irish crypto setup starts by forming an LTD — the private company limited by shares, with no statutory minimum capital. Incorpo…
company formationSwiss AG or GmbH for a Crypto Business: Which Entity to Form
Switzerland offers two main company forms for a crypto business — the AG with CHF 100,000 capital and the GmbH with CHF 20,000. Th…
company formationUAE Crypto Company Formation: Free Zone, Mainland, and the Licence
The UAE is a leading crypto hub — but 'set up a Dubai crypto company' hides several decisions: free zone vs mainland, which free z…
comparisonCanada MSB vs EU CASP: Which Crypto Licence Fits
Canada's MSB registration is fast, cheap, and AML-focused — the EU's CASP authorisation is slow, expensive, and full-spectrum. Fou…
mica rulesDoes MiCA Regulate Crypto Staking and Lending? The Honest Answer
MiCA does not comprehensively regulate crypto staking, lending, or borrowing — they sit largely outside its current scope. But 'ou…
mica rulesMiCA or MiFID II? When a Crypto-Asset Is a Financial Instrument
MiCA only governs crypto-assets that are not already financial instruments. If a token is a transferable security or a derivative,…
comparisonSwitzerland vs EU MiCA: FINMA's Framework Compared
Switzerland regulates crypto through its existing financial-market laws — the DLT Act, AMLA, and FINMA rules — not a single crypto…
operationalCrypto Custody Under MiCA: The Rules for Holding Client Assets
Holding client crypto-assets is the highest-trust service a CASP can offer — and MiCA's custody-service rulebook builds a specific…
stablecoin nftWhen NFTs Are Inside MiCA Scope (And When They're Out)
MiCA's scope provision exempts unique and non-fungible crypto-assets — but ESMA guidance has narrowed the scope. A unique identifi…
stablecoin nftEU Stablecoin Reserves Under MiCA: ART vs EMT Issuer Rules
ART and EMT issuers face different MiCA reserve regimes. the ART reserve rule requires composition hedging market risk; the EMT re…
mica rulesChoosing CASP Class 1, 2, or 3: A Decision Guide for MiCA Applicants
MiCA Annex IV groups crypto-asset services into three nested classes — Class 2 includes all of Class 1, Class 3 includes all of Cl…
mica rulesMiCA White Paper Requirements 2026: When You Need One and What's In It
Three different MiCA articles trigger three different white paper regimes — Title II for other crypto-assets, Title III for ARTs, …
operationalDORA ICT Resilience Plan for CASPs: What 2026 Requires
DORA applies to MiCA-authorised CASPs from 17 January 2025. By 2026 supervisors are scrutinising ICT-resilience plans against actu…
mica rulesMiCA Prudential Capital: Class 1, 2, and 3 Explained for CASPs
MiCA classifies CASPs into three tiers with €50K, €125K, and €150K initial-capital floors plus an own-funds-or-PII overlay. The cl…