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An overview of key legal and practical considerations surrounding the use of cryptoassets for investment and financing in Austria, including regulatory thresholds and the rules governing ICOs.
Regulatory threshold What attributes do the regulators consider in determining whether a cryptoasset is subject to regulation under the laws in your jurisdiction? The Financial Market Authority (FMA) operates a ‘technology-neutral’ approach, meaning that products and services involving cryptoassets are subject to the same regulatory framework as traditional products and services. The underlying rationale is ‘same risk, same rules’. Whether and to what extent financial services regulation and securities laws apply depends primarily on the actual product features and business model. Bus...