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By Soulla Dionysiou, Lawyer * Transactions in Bitcoin do not constitute a bank transaction and certainly such transactions are not a criminal offence. This was ruled by the Berlin Court of Appeals in its recent decision which criticized the authority of the Federal Financial Supervisory Authority of Germany (BaFin). Αccording to a report published in the website of Frankfurter Allgemeine Zeitung (www.faz.net), the case concerned a 16-year old who created a digital platform in cryptocurrency, without being licensed by the Central Bank. BaFin, found a violation of the Banking Act and the Berlin Court then imposed a fine. The decision, however, was overturned by the Berlin Court of Appeals, which ruled that Bitcoin is neither a financial instrument nor a unit of account, and it is not an alternative currency or considered as electronic-money. In this very important decision, BaFin’s authority and competence for this type of transactions becomes questionable, as according to the

By Ioanna Michalopoulou, Lawyer LLM* The EU General Data Protection Regulation (GDPR) is not explicitly a global law, but it might be on the way to becoming a  de facto  law beyond the boundaries of Europe, at least for a number of businesses. GDPR, which was enforced on the 25 th  of May 2018, affects all businesses based in EU territory acting as data controllers or data processors of personal data of data subjects who are located within the Union, similar to the previous European data protection law (Directive 95/46/EC). An important question, then, arises as to  whether businesses that are based outside the European Union and process personal data, fall under the GDPR’s scope. The European legislature, in an effort to protect data subjects from the arbitrary processing of their personal information by non-EU businesses, expanded the territorial scope of the Regulation. Article 3 GDPR states that the “GDPR applies to the processing of personal data of data subjects who ar

UK nationals would be able to enter the EU visa-free for short periods after the country’s exit, provided EU nationals enjoy the same conditions when travelling to the UK. With 502 votes to 81 and 29 abstentions, plenary backed on 4/4/2019 the draft law exempting UK citizens from visa requirements to enter the EU for short visits after the country leaves the European Union. The legislation will apply from the day following the UK’s withdrawal from the European Union. From that date, UK nationals who are British citizens will not be required to get a visa for stays in the EU of up to 90 days in any 180-day period. The United Kingdom will be included in the list of more than 60 third-countries and territories whose nationals do not need to request a visa to enter the EU for business, tourism or to visit relatives or friends. The visa exemption does not provide for the right to work in the EU. The EU will grant the visa waiver to UK citizens unilaterally, but on the basis of

The European Court of Human Rights has elected on 1.April 2019 Linos-Alexandre Sicilianos (Greek) as its new President. He will take office on 5 th May 2019. Linos-Alexandre Sicilianos succeeds Guido Raimondi (Italy).   Linos-Alexandre Sicilianos was born on 9 May 1960 in Athens, Greece. He is Judge of the European Court of Human Rights since 18 May 2011 He was elected as President of Section of the European Court of Human Rights since 1 February 2017 and Vice-President of the Court since 1 May 2017 . Mr Sicilianos is also author of five monographs, editor or co-editor of 14 books and author of about 100 articles and studies in general international law and the international protection of human rights, in French, English and Greek. Read more here

In judgment in the case of Rustamzade v. Azerbaijan (application no. 38239/16) the European Court of Human Rights held, unanimously, that there had been: a violation of Article 5 § 1 (right to liberty and security) of the European Convention on Human Rights. The case concerned a student’s arrest and detention in 2013 for allegedly filming some friends dancing in a park and uploading the video of it to YouTube. He was charged with hooliganism and spent one year in pre-trial detention. He was convicted in 2014 as charged, as well as of mass disorder and arms offences which had in the meantime been added to the list of charges, and sentenced to eight years’ imprisonment. The Court found in particular that the facts relied on in the domestic proceedings could not reasonably be considered to constitute criminal behaviour as defined under domestic law or as interpreted by the higher courts. Mr Rustamzade had therefore been arrested and detained without a reasonable suspicion that he had

Judgment of ECJ in Case C-118/17 Zsuzsanna Dunai v ERSTE Bank Hungary Zrt. : The Hungarian legislation excluding the retroactive cancellation of a loan contract denominated in a foreign currency which includes an unfair term relating to the exchange-rate risk is contrary to EU law. The cancellation of the contract must be possible where it cannot continue to exist without the unfair term. In May 2007, Mrs Zsuzsanna Dunai concluded with ERSTE Bank Hungary, a bank incorporated under Hungarian law, a loan contract denominated in Swiss francs (CHF). Under the contract, the loan was to be advanced to the borrower in Hungarian florints (HUF) and the conversion of CHF into HUF was to be made by applying the CHF-HUF exchange-rate based on the buying rate practiced by the bank on the day of the provision of the loan. The contract provided in addition that the loan was to be repaid in HUF and that the amount of the repayments would be calculated on the basis of the CHF-HUF exchange-rate

By George Kazoleas, Senior Associate Lawyer at Dionysiou & Partners LLC (Cyprus) The EU Regulations clarifying the rules applicable to property regimes for international married couples or registered partnerships apply from 29 January 2019. Τhese are the Regulations (EU) 2016/1103 of 24 June 2016 implementing enhanced cooperation in the area of jurisdiction, applicable law and the recognition and enforcement of decisions in matters of matrimonial property regimes and (EU) 2016/1104 of 24 June 2016 implementing enhanced cooperation in the area of jurisdiction, applicable law and the recognition and enforcement of decisions in matters of the property consequences of registered partnerships. The regulations establish clear rules in cases of divorce or death and bring an end to parallel and possibly conflicting proceedings in various Member States, for instance on property or bank accounts. In short, they bring more legal clarity for international couples [1] . As regards th