CP violation in $b$ and $c$ quark decays

Generically, non-Standard-Model particles contribute to processes with order-one charge-parity (CP) violating phases, as CP is not a fundamental symmetry of nature. The exploration of CP violation becomes therefore a sensitive search for non-Standard-Model physics. We briefly review the current status of CP-violation studies in bottom- and charm-quark transitions focusing on those quantities that are most sensitive to non-Standard-Model contributions and discuss opportunities and challenges for the next decade and beyond.