If a crypto-asset service provider needs the execution of payment transactions, that crypto-asset service provider itself must have authorisation to provide payment services or it must use a third party authorised to provide payment services. The Regulation introduces stricter supervisory requirements, including direct supervision by the European Banking Authority, for the issuers of so-called ‘significant tokens’ – tokens the total value of which exceeds a certain threshold. The Regulation puts in place rules and requirements to prevent market abuse involving crypto-assets, such as the obligation for disclosing inside information and conditions for delaying disclosure of inside information; prohibitions on insider dealing, on unlawful disclosure of inside information and on market manipulation. 5.3. Proposal for a Regulation on a pilot regime for market infrastructures based on distributed ledger technology (DLT)11. This Regulation puts in place requirements for multilateral trading facilities and securities settlement systems which use the distributed ledger technology (DLT) (‘market infrastructures based on DLT’) and have received specific permissions granting one or several exemptions from certain provisions of Directive 2014/65/EU12 and Regulation (EU) No  ‘Asset-referenced token’ means a type of crypto-asset that purports to maintain a stable value by referring to the value of several fiat currencies that are legal tender, one or several commodities or one or several cryptoassets, or a combination of such assets.
Some analysts have attributed this lack of  BIS central bankers’ speeches  1  trade in service and manufacturing sectors to lack of competitiveness and products that insurer the exporter against any unforeseen losses. The demonstration by ATI of their credit risk insurance products in this workshop will therefore, play a very important role in promoting trade and exports of Non-Traditional Exports which lead to a diversified economy, job creation and sustainable economic growth. The credit risk insurance products also spur trade within Africa by helping our local companies to become more competitive through increased access to credit facilities. ATI has therefore, truly had a significant impact in Africa, which is reflected in the over $ billion worth of trade and investments it has attracted into the continent over the past decade. Distinguished Guests, Ladies and Gentlemen, as you are aware, staying competitive is what all companies strive to do. Innovation plays a key role in this equation. I am therefore elated that this morning ATI will speak about how it is providing innovative products and services to better suit the needs of banks and financial institutions. I am confident that the strategic partnerships of local banks and ATI will provide an opportunity for growth in credit particularly to the Small and Medium Enterprises which face major challenges in the trade sector.