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Cryptoassets

The cryptoassets sector is thriving with continued rapid technological development but also continues to face regulatory challenges.

Most of the United Kingdom’s financial services regulation predates the invention of cryptoassets, drafted without such assets in mind, which can cause particular challenges when determining how these new assets fit into the regime. Even as targeted government and regulator regulation comes in, they can soon be overtaken by the pace of technological development in such a fast-moving sector.

A further challenge lies in the sheer diversity of cryptoassets. Different cryptoassets can operate in very different ways, providing different rights and benefits to their owners. Even seemingly small differences between cryptoassets can have a big impact on how regulation affects them. Given these regulatory challenges, and the speed with which these regulations can change, it is critical that those working with, or owning, cryptoassets have regular legal support from a team that is up to date with the latest developments.

Charles Russell Speechlys is unique in our ability to provide a multitude of legal services, as part of a fully joined-up FinTech team, combining experts in financial services regulation; technology infrastructure; private wealth and tax; investment funds; and corporate, all with experience working with blockchain technology and cryptocurrencies.

Our team has a wealth of experience both in FinTech generally and in cryptoassets in particular.  We have the capabilities to support providers of cryptoassets, businesses working in cryptoassets, and private individuals owning, or investing in cryptoassets.

We are one of the few firms that can provide FinTech advice from both sides of the spectrum. We speak the language of the industry and believe our breadth of offering gives us a unique edge over other firms.

Some of our recent experience

  • Advised major cryptoasset trading platform, Coinbase, on all the complex regulatory issues and innovative third party supplier agreements required for the launch of their Coinbase Card in the UK
  • Advising leading online broker, eToro, on the regulatory status of certain types of cryptocassets, particularly with regards their cryptocurrency CFD business
  • Advised the developer of the Kuende platform, on the launch of Keunde’s TGE (ICO). Kuende is the first blockchain fuelled social network that uses gamified challenges to reward real life social interaction
  • Advised a number of private individuals in divorce proceedings on how to value and divide cryptoassets upon divorce
  • Advising a client on the issues involved in establishing a cryptoasset trading platform and the launch of an ICO
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