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  24.11.2023

  International

  Carbon Border Adjustment Mechanism transition in effect since 1 October 2023

  On 1 October 2023, a two-year transitional period began for implementation of Regulation (EU) 2023/956, which introduces the Carbon Border Adjustment Mechanism (CBAM). CBAM levies punitive CO2 charges against third-country importers of certain goods and only permits CBAM declarants to import these goods into the EU. Although reporting obligations have been imposed for the two-year transition period, CBAM does not fully go into effect until 1 January 2026.A. General InformationFrom 1 January 2026, importers of specific goods from third countries will be required to pay punitive CO2 charges under...

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  16.11.2023

  International

  NFTs under MiCAR – are they regulated or not?

  The Markets in Crypto-Assets Regulation (MiCAR) sets down a harmonised regulatory framework for crypto-assets. MiCAR's overarching goal is to extend regulatory oversight to those categories of cryptos and tokens that have so far remained outside the scope of regulation. The following focuses specifically on non-fungible tokens (NFTs) and examines whether they are covered by MiCAR.What are NFTs?NFTs are cryptographic records stored on a blockchain that are unique in that they are linked to a specific asset. They primarily serve as the electronic "embodiment" of mainly digital, but also physical...

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  07.11.2023

  MENA

  COP 28 Ahead: Hydrogen Ambitions in MENA

  During COP28, the fourth annual Hydrogen Transition Summit will be held to examine: (i) increasing hydrogen production; (ii) mobilising finance and de-risking investment for renewable and low-carbon hydrogen projects; (iii) policy frameworks to match global hydrogen supply and demand; and (iv) connecting the global supply chain.Low-carbon hydrogen is seen as increasingly important for achieving the rise of national and international decarbonisation goals. In May 2023, the Hydrogen Council Insights report[1] noted that globally there has been 38 megatonnes per annum (“MT p.a.”)...

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  19.10.2023

  International

  Safeguarding the digital vault: custody and administration of crypto-assets under the new MiCA regulation

  With the rise of cryptocurrencies and blockchain technology, European regulators have recognised the need to establish a comprehensive framework to ensure the sector's integrity, transparency and the protection of its stakeholders. The year 2023 saw the introduction of the Markets in Crypto-Assets Regulation (MiCAR), which was a significant step by the EU to create a consistent regulatory environment for crypto-assets. MiCAR defines crypto-assets as a digital representation of a value or right that can be transferred and stored electronically using distributed-ledger or similar technology. One...

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  29.09.2023

  International

  EP Case Law in Brief: Erroneous Disclosures

  “Mistakes in a document do not in themselves constitute prior art such as to prevent the grant of a patent.”So begins section I.C. 4.9 of the Case Law of the Boards of Appeal. This statement, and the accompanying case law, provides for the possibility of a ‘get out of jail free card’ for novelty objections in certain circumstances.An invention is "considered to be new if it does not form part of the state of the art". The "state of the art" is defined as "everything made available to the public by means of a written or oral description, by use, or in any other way, before...

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  19.09.2023

  International

  Trading of crypto-assets in detail

  The Markets in Crypto-Assets Regulation (MiCAR) sets down a harmonised regulatory framework for service providers known as crypto-asset service providers (CASPs), which carry out activities with crypto-assets that fall within the regulation's scope. The following article describes the MiCAR requirements applicable to persons providing services related to crypto-asset trading.DefinitionMiCAR introduces enhanced legal requirements that will apply to service providers carrying out professional activities related to trading crypto-assets. The crypto-assets trading activities that MiCAR identifies as...

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