CZECH REPUBLIC CONTENTS
6. Marketplaces, Exchanges and Trading Platforms p.187 6.1 Permissible Trading Platforms p.187 6.2 Regulation of Different Asset Classes p.187 6.3 Impact of the Emergence of Cryptocurrency Exchanges p.188 6.4 Listing Standards p.188 6.5 Order Handling Rules p.189 6.6 Rise of Peer-to-Peer Trading Platforms p.189 6.7 Rules of Payment for Order Flow p.189 6.8 Market Integrity Principles p.190 7. High-Frequency and Algorithmic Trading p.190 7.1 Creation and Usage Regulations p.190 7.2 Requirement to Be Licensed or Otherwise Register as Market Makers When Functioning in a Principal Capacity p.190 7.3 Regulatory Distinction Between Funds and Dealers p.191 7.4 Regulation of Programmers and Programming p.191 8. Insurtech p.191 8.1 Underwriting Processes p.191 8.2 Treatment of Different Types of Insurance p.191 9. Regtech p.191 9.1 Regulation of Regtech Providers p.191 9.2 Contractual Terms to Assure Performance and Accuracy p.192 10. Blockchain p.192 10.1 Use of Blockchain in the Financial Services Industry p.192 10.2 Local Regulators’ Approach to Blockchain p.192 10.3 Classification of Blockchain Assets p.193 10.4 Regulation of “Issuers” of Blockchain Assets p.193 10.5 Regulation of Blockchain Asset Trading Platforms p.194 10.6 Staking p.194
10.7 Crypto-Related Lending p.195 10.8 Cryptocurrency Derivatives p.195 10.9 Decentralised Finance (DeFi) p.195 10.10 Regulation of Funds p.196 10.11 Virtual Currencies p.196 10.12 Non-Fungible Tokens (NFTs) p.196 11. Open Banking p.196 11.1 Regulation of Open Banking p.196 11.2 Concerns Raised by Open Banking p.196 12. Fraud p.197 12.1 Elements of Fraud p.197
12.2 Areas of Regulatory Focus p.197 12.3 Responsibility for Losses p.198
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