The revised Payment Services Directive (PSD2), applicable since 13 January 2018, has paved the way for Open Banking. Open Banking describes a shift from a closed model of banking to one in which

The Austrian Supreme Court has delivered an extraordinary rebuke to the first AI-generated appeal to reach its chambers, finding it so corrupted by hallucinations and fabricated citations that it failed to meet basic standards of legal argumentation. The court's response signals a clear warning about uncritical reliance on artificial intelligence in legal practice and hints at potential disciplinary consequences for attorneys who submit such flawed work.

Blockchain technology has – so far – not lead to a transfer of the world's land registers onto this technology or to a "tokenization" of title (documents).

Ich überlege, ein Geschäftsmodell im Metaverse umzusetzen. Kann ich im Metaverse eine österreichische GmbH gründen (damit ich im Ernstfall nur beschränkt hafte, sollte meine Geschäftsidee nicht aufgehen)?

As of April 2018, California will allow fully autonomous cars to be tested without safety drivers on public roads. One interesting question in this context is whom to blame for damages caused by...

If you were to ask how funds are transferred in blockchains, the reply would be through wallets. But how do these wallets work and what does the term technically mean?

PSD2 entered into force on 12 January 2016 and will replace the current Payment Services Directive (in force since 2007) as of 13 January 2018.

On 2 November 2021 the Austrian Financial Market Authority (FMA) published its long-awaited amended Online Identification Regulation (Online-Identifikationsverordnung, "Online-IDV").

The recent events around FTX are a reminder that any investment requires appropriate due diligence.

In an attempt to become faster and more energy-efficient, the world's second most important blockchain changed its consensus mechanism from Proof of Work to Proof of Stake on 15 September.

As the regulatory landscape for crypto-assets undergoes a significant transformation with the European Union's implementation of the Markets in Crypto-Assets Regulation...

NFTs are a hot topic, but their treatment under insolvency law – which will receive more attention due to the recent crisis – has not yet been explored in much detail.

The online CEE/SEE real estate & construction blog of Wolf Thiess.

#Malware #Ransomware #Phishing #Cyberattacks #Loss / misuse of data #Cyberattacks on the German Bundestag #Hackers attack US government authorities

The Austrian Financial Market Authority (Finanzmarktaufsicht – FMA) has updated its FinTech-Navigator to include specific information on how initial coin offerings (ICOs) are to be treated under Austrian law.

Non-fungible tokens (NFTs) aren't new, in fact they've been around for years.

It's been a tough few weeks for crypto. While investors should not be easily rattled, the recent events surrounding the FTX crypto exchange have caught many offguard.

Welcome to our to the point newsletter. Every month we look back at the most relevant developments in the area of financial regulation in the CEE region.

With credit institutions still reluctant to provide financing to start-ups, many companies are looking for new ways to raise funds.

The Italian Data Protection Authority "Garante per la Protezione dei Dati Personali" recently banned the use of ChatGPT in Italy due to allegations of unlawful collection of personal data and the lack of an age verification system for children.