Following two (2) years of uncertainty, at the behest of the Romanian Government, the Ministry for Finance published the draft Government Decision for the approval of procedures for the authorisation and/or registration of providers engaged in exchange services between virtual currencies and fiat currencies, as well as custodian wallet providers, on 12 May 2023. The Decision also included procedures for granting and withdrawing technical endorsements (the "Draft Decision").
A December 2022 decision by the Austrian Constitutional Court to annul the media privilege in the Austrian Data Protection Act has raised questions on how the country’s approach to the legal landscape regulating the media will change. Wolf Theiss Partner Kurt Retter and DLA Piper Counsel Stefan Panic analyze the ruling’s implications.
The SOG Law Firm, working with DLA Piper’s office in France, has advised the Renault Group on the divestment program for its import and distribution subsidiaries in six jurisdictions. Wolf Theiss reportedly advised the Emil Frey Group on acquiring the operations. Sabev & Partners reportedly advised the Renault Group as well.
Regulation (EU) 2022/1925, The Digital Markets Act, is set to apply from 2 May 2023
Addressing digital developments and concerns regarding contestability and fairness in the digital economy, the Digital Markets Act – an ex-ante regulatory system – entered into force on 1 November 2022 and will apply from 2 May 2023. Designed to complement competition law, the Digital Markets Act lays down prohibitions and obligations for designated gatekeepers that provide a range of “core platform services” and gives the European Commission broad investigative and enforcement powers. Generally speaking, the Digital Markets Act aims to prevent unfair practices by gatekeepers.