出版物・法学研究

リヒテンシュタイン法令集

Josef Bergt と Thomas Stern が編者を務める2026年版シリーズは、民事訴訟法、会社法、民法、刑法、憲法の主要なリヒテンシュタイン法令を収録しています。詳細ページでは非公式の英訳も提供しています。

Liechtenstein’s FinTech at the Frontier

The chapter examines how Liechtenstein’s token-centric private-law framework interacts with European rules on payments, asset-referenced tokens, MiCAR and platform economies.

Mergers & Acquisitions Laws and Regulations 2025 – Liechtenstein

Country chapter on the Liechtenstein legal and regulatory framework for mergers, acquisitions and corporate transactions.

Introduction to Liechtenstein due diligence law

The practice-oriented handbook covers the SPG and SPV, AML/CFT, risk-based compliance and digital business models. The book has also been cited by the Supreme Court of Liechtenstein in OGH 09 CG.2024.49.

Ad Hoc Public Disclosure in Prolonged Situations under Article 17(1) MAR in Light of the ESMA Consultation Paper

Current Debates on the Reform of Bank-Specific Insolvency Ranking (“Super Preference”): How Secure Are Corporate Deposits in the Event of Deposit Guarantee?

EURICSE (2024). Synthesis report on Council Regulation No. 1435.2003 - Statute for a European Cooperative Society

Liechtenstein national report supporting the European study of the Statute for a European Cooperative Society (SCE).

Lecture Open Educational Resources (OER) - Creative Commons Licenses

Teaching material on Open Educational Resources and Creative Commons licensing at Seeburg Castle University.

Decentralized Finance (DeFi): An interdisciplinary overview

Interdisciplinary overview of decentralized finance from legal and economic perspectives.

Decentralized Finance (DeFi): A literature review from economic and legal perspectives with practical implications

Literature review connecting economic and legal research on DeFi with practical implications.

Insolvency III: Current Status of the Legislative Initiative

Crypto Asset or Financial Instrument? Does Article 2(5) MiCAR Resolve the Delimitation Problem?

Practical Handbook on Alternative Investment Funds

MiCAR Short Commentary

MiCAR Short Commentary: Articles 31–36, 41; with co-author Articles 1, 2

“Are we prepared?”

“Crypto-Asset or Financial Instrument?”

“Anti-Money Laundering & Financial Market Stability”

Decentralized Finance Unmasked

Decentralized finance (DeFi) is a form of finance without central financial intermediaries. This work explores the interplay of behavioral finance and public policy in the emerging field of decentralized finance.

The Asset Reserve – Liquidity Regulation for Token Issuers under MiCAR

“No Creditor Worse Off” in the European Bank Resolution Regime: Prohibition of Obstruction or a Breaking Point?

“Crisis Management & Artificial Intelligence”

Note on Markets in Crypto Assets

From VASP (Virtual Asset Service Provider) to CASP (Crypto Asset Service Provider) under the European Regulation on Markets in Crypto-assets (MiCAR).

Commentary on the BaSAG: §§ 12–14, 17, 18, 34, 35, 41–43, 133–146, 149–151

Commentary on the Covered Bond Act: §§ 18, 20 and 21

“Who or What Does Banking Supervision Protect?”

Jean Monnet Lecture “Supervision from the Cradle to the Grave”

Bergt / Ospelt, Who owns the swarm of bees?

Short contribution on the legal treatment of bees and bee swarms under Liechtenstein law.

Trust in Blockchain-Technology in a Sharing Economy

This article first gives a brief overview of blockchain technology and a possible range of its applications under the premise of a decentralized technological environment. The article then highlights the foundations of a sharing economy, outlines the mechanisms of trust in intermediating technology platforms, and finally shows the ways in which disruptive technologies, such as decentralized blockchain technology, can have an impact on a sharing economy.

Lecture “Podium Recht”: Tokens as dematerialized securities

Lecture at the law panel of the Private University of Liechtenstein (UFL Triesen) on tokens as dematerialized securities/value rights (crypto assets).

AMLA – Supranational Anti-Money Laundering Supervision in the Mold of the SSM

Scope and Applicability of the Liechtenstein Blockchain Act (TVTG)

State Supervision of VT Service Providers

Anti-Money Laundering by VT Service Providers

Essential Conduct Obligations of VT Service Providers

Deposit Guarantee: Comparative Law – Case Studies – Relevance for Financial Stability

“Protective Purpose of Banking Supervision”

Liechtenstein: Data protection and employment, OneTrust DataGuidance

As the General Data Protection Regulation (Regulation (EU) 2016/679) ("GDPR") allows Member States to provide for more specific rules on the processing of data of employees, national legislation in this area should be carefully considered and taken into account.

Public consultation on an EU framework for markets in crypto-assets (MiCAR), through thinkBLOCKtank asbl

As President von der Leyen stated in her policy guidelines for the new Commission, it is crucial that Europe realizes the full potential of the digital age and strengthens its industrial and innovation capacity within safe and ethical boundaries. Digitalization and new technologies are significantly changing the European financial system and the way it provides financial services to European businesses and citizens.

Liability of the executive and supervisory bodies in the Liechtenstein company limited by shares

Monograph on the responsibility and liability of executive and supervisory bodies in a Liechtenstein company limited by shares.

Note on Data Protection in the Financial Sector, OneTrust DataGuidance

In Liechtenstein, the General Data Protection Regulation (Regulation EU/2016/679; GDPR) is in principle directly applicable. As Liechtenstein is a member of the European Economic Area (EEA) and not of the European Union, European regulations must also be incorporated into the EEA Agreement. The EEA Joint Committee decided on 06 July 2018 to incorporate the General Data Protection Regulation into the EEA Agreement (Decision of the EEA Joint Committee No. 154/2018; OJ L 183, 19.07.2018, p. 23).

Investment Firm Review: Metamorphoses and New Norms in the Realm of Investment Firms

Banking Supervision Law in the European Economic Area: Normative Lessons from the Financial Crisis

Commentary on the Austrian Payment Services Act – ZaDiG 2018²: §§ 11, 12, 20 and 23

“Implementation of the 5th AML Directive in Liechtenstein”

Tokens as Value Rights & Token Offerings and decentralized Trading Venues

A securities civil law and securities regulatory law analysis from the perspective of Liechtenstein with special consideration of relevant Union acts in Banking and Financial Market Law Liechtenstein, 2nd slightly revised edition, Norderstedt, German, ISBN: 978-3-7504-2737-2737.

STOs From a Legal Perspective, Aeternity Universe One, Prague

Presentation on Security Token Offerings at the Aeternity Universe One 2019 event in Prague.

Bergt / Esneault / Feldkircher / Nägele, National legal & regulatory frameworks in select European countries

Country Analysis Liechtenstein in The Regulation of Tokens in Europe Parts A & B: The EU legal and regulatory framework, thinkBLOCKtank asbl, p. 117

Cryptocurrencies and Blockchain Technology in Liechtenstein Supervisory Law, Regulatory Grey Zone?

This article shows the potential of "blockchain technology" for Liechtenstein legal users, but also the challenges it poses for the Liechtenstein legal system.

Retrocessions and the resulting claims against Swiss asset managers

This article deals with the issue of the obligation to surrender retrocessions (kickbacks).

Commentary on the Austrian Banking Act – BWG⁴: including §§ 30b, 30c BWG and Articles 7–10, 19–24, 411–428 CRR

Zusammenschluss zur Gesellschaft bürgerlichen Rechts

Academic publication on the formation and legal structure of a civil-law partnership (Gesellschaft bürgerlichen Rechts).