Crypto-Asset Regulation · glossary
Ireland's name for MiCA's rule that the people who run a crypto firm be honest and competent. Fitness means competence and probity means honesty. The Head of Legal keeps a file on each director, and a new director takes no board decision until the Central Bank clears them. Binder §2.2 · Appendix A.4 · Chapter 3 · Chapter 4
Explained in Chapter 3, The Application, of Crypto-Asset Regulation.
Also explained in Venture Deals.
MiCA requires the people who run a CASP to be honest and to have the knowledge, skills and experience for the job (Article 68). In Ireland this check is called fitness and probity. Fitness means competence, and probity means honesty. The Central Bank checks both for every director and senior manager.Read Chapter 3, The Application →
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