Publicação
FinTech, Tokens, and Financial Stability
| Resumo: | The rapid evolution of Fintech and blockchain technologies has brought significant innovation to the financial sector, particularly through the development of crypto assets, such as tokens, token mechanisms, and stablecoins. As a result, these digital instruments have introduced unprecedented opportunities for efficiency and market transformation but have also raised complex legal and regulatory challenges. This thesis intends on investigating what are the main political and legislative challenges in regards to tokens and tokenization mechanism to achieve the political goal of financial stability in the EU, focusing on MiCA as its main legislative body and on how it deals with the issue of tokens and crypto assets. The research of the thesis has been done with a focus on providing a thorough and concise global perspective on the legal and regulatory landscape surrounding crypto assets, with a particular focus on tokens and stablecoins. It firstly aims to address the following main question: Is the current legislative framework of the EU equipped to handle the financial challenges posed by tokenization mechanisms in Fintech and does it protect and promote financial stability? It thus a study on the legal work that has been done and that needs to be done in the area of tokens and tokenization mechanism, with the aim of also clarifying its objectives, the activities that it affects and has and the benefits it brings within the framework of the political goal of financial stability. Besides working with MiCA and analysing it as the main source of law the thesis will also analyse the DLT Pilot System. Additionally, the thesis considers how international organizations and think tanks, such as the European Banking Authority, the European Securities and Markets Authority, and the Bank for International Settlements, have contributed to this discourse. By synthesizing academic and institutional perspectives, the work aims to provide insights into the evolving legal frameworks needed to support innovation while safeguarding public and market interests. |
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| Autores principais: | Sena, Pedro Maria de Moura Pinheiro Nunes e |
| Assunto: | MiCA EU Fintech blockchain DLT Pilot System |
| Ano: | 2026 |
| País: | Portugal |
| Tipo de documento: | dissertação de mestrado |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade Nova de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório Institucional da UNL |
| Resumo: | The rapid evolution of Fintech and blockchain technologies has brought significant innovation to the financial sector, particularly through the development of crypto assets, such as tokens, token mechanisms, and stablecoins. As a result, these digital instruments have introduced unprecedented opportunities for efficiency and market transformation but have also raised complex legal and regulatory challenges. This thesis intends on investigating what are the main political and legislative challenges in regards to tokens and tokenization mechanism to achieve the political goal of financial stability in the EU, focusing on MiCA as its main legislative body and on how it deals with the issue of tokens and crypto assets. The research of the thesis has been done with a focus on providing a thorough and concise global perspective on the legal and regulatory landscape surrounding crypto assets, with a particular focus on tokens and stablecoins. It firstly aims to address the following main question: Is the current legislative framework of the EU equipped to handle the financial challenges posed by tokenization mechanisms in Fintech and does it protect and promote financial stability? It thus a study on the legal work that has been done and that needs to be done in the area of tokens and tokenization mechanism, with the aim of also clarifying its objectives, the activities that it affects and has and the benefits it brings within the framework of the political goal of financial stability. Besides working with MiCA and analysing it as the main source of law the thesis will also analyse the DLT Pilot System. Additionally, the thesis considers how international organizations and think tanks, such as the European Banking Authority, the European Securities and Markets Authority, and the Bank for International Settlements, have contributed to this discourse. By synthesizing academic and institutional perspectives, the work aims to provide insights into the evolving legal frameworks needed to support innovation while safeguarding public and market interests. |
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