On December 6, 2024, the Chamber of Deputies of the Czech Republic approved the Act on Digitalisation of the Financial Market (ZDFT), which represents an important step in adapting the Czech legal framework to European regulations in the area of digital financial markets.

In 2024, the financial market in Ukraine has remained resilient and stable even though the Russian full-scale military aggression against Ukraine approaches its third anniversary. This has been possible due to the continuing financial support coming from Ukraine’s allies and international donors. Notably, G7 leaders have recently announced a USD 50 billion lending package for Ukraine to be repaid with revenues from Russian frozen assets.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

Lexist has advised the Aydin Group on its sale of a 5% Stake in the TOM Financial Group to the Dubai Islamic Bank.

On December 30, 2024, a new European Union crypto-asset regulation, known as MiCAR (Markets in Crypto-Assets Regulation), came into effect. This regulation establishes unified rules for the crypto-asset market and imposes stricter requirements on crypto service providers. Additionally, on July 1, 2024, a new crypto-asset market law came into force in Estonia (krüptovaraturu seadus or KrüTS in Estonian).

Norton Rose Fulbright has advised a consortium of Polish banks including BNP Paribas Bank Polska and mBank on a PLN 321 million (approximately EUR 69 million) financing facility provided to R.Power. Baker McKenzie reportedly advised R.Power.