Yulia Makarova

Yulia has significant experience advising on the regulation of digital assets, cryptocurrencies, and emerging technologies. Yulia regularly supports clients navigating the legal and regulatory frameworks governing tokenised instruments, decentralised finance (DeFi), stablecoins, and blockchain-based financial products. Her clients include fintechs, crypto exchanges, token issuers, payment service providers, and investors operating in the rapidly evolving UK and EU digital asset regulatory landscape.

Yulia is highly experienced with the Markets in Crypto-Assets Regulation (MiCA), including crypto-asset classification, white paper requirements, licensing and authorisation processes, and investor protection obligations. She advises clients on structuring and compliance for token offerings and the intersection of digital assets with legacy financial regulatory regimes.

Her broader practice includes advising on key EU and UK financial services legislation, such as MiFID II, the Alternative Investment Fund Managers Directive (AIFMD), the Market Abuse Regulation (MAR), and associated UK frameworks. She counsels on regulatory capital, governance, systems and controls, and client asset protections (CASS), and has deep experience with UK/EU regulatory divergence. Yulia frequently advises on regulatory approvals and filings related to acquisitions and other strategic transactions

She regularly engages with the UK Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), as well as a broad range of EU regulators, having successfully led clients through authorisation and regulatory change processes, including obtaining Part 4A permissions, securing regulatory approvals for acquisitions, and advising on variations and cancellations of existing permissions.