Meeting of the Legal Group of the Czech Fintech Association

On Wednesday, September 25, a representative of our law firm, František Malý, joined the legal group meeting of the Czech Fintech Association at the Diamant Work Lounge in Prague.

The program covered news on both adopted and upcoming legislation:

• ESOP (employee stock ownership plans). Unlike abroad, this issue has not yet been specifically regulated in the Czech Republic. An impact on income tax and potential social security and health insurance contributions is expected.

• Changes in the AML area

• PSD3 Directive (Payment Services Directive 3)

• Digital Receipt Initiative. The initiative assumes that, if possible, the customer could request a so-called digital receipt, either by having it sent to their email or by being provided with a URL where the receipt can be accessed. The initiative is also being addressed by the Association for Digital Receipts.

• DORA Regulation (digital operational resilience of the financial sector). The regulation is currently a topic of much discussion because it concerns entities providing payment services. These entities must now adjust their internal regulations and processes to comply with the regulation.

• MiCA Regulation (cryptocurrency regulation)

• Upcoming changes in the area of consumer credit (Consumer Credit Directive).

The meeting was very inspiring, and participants exchanged their views and experiences in various areas.

Thank you for the invitation, and we look forward to more interesting meetings in the future.