19 October 2018

Carey Olsen teams up with Global Legal Insight on first edition of Blockchain & Cryptocurrency Regulation

A cross-jurisdictional team of lawyers from Carey Olsen have contributed to Global Legal Insight's first edition of Blockchain & Cryptocurrency Regulation.

The publication has brought together legal experts from across the globe to analyse the state of play in the blockchain, cryptocurrency and electronic token space, specifically in relation to government attitudes and definitions, cryptocurrency and sales regulation, money transmission laws and anti-money laundering requirements, promotion and testing, ownership and licensing requirements, taxation and border restrictions.

In total, there are more than 30 country chapters as well as other general overviews looking at specific case studies and other topics relating to the digital assets industry.

Between them, Carey Olsen lawyers provided the country chapters for all five of its legal jurisdictions – Bermuda, British Virgin Islands (BVI), Cayman Islands, Guernsey and Jersey. Contributors comprised Bermuda partner Michael Hanson and counsel Adam Bathgate, BVI partner Clinton Hempel and associate Mark Harbison, Cayman Islands partner Alistair Russell and counsel Dylan Wiltermuth, Guernsey partner David Crosland and associate Felicity White, and Jersey partner Chris Griffin.

Mr Russell commented: "The use and adoption of blockchain and cryptocurrency technology is rapidly expanding as individuals and businesses begin to recognise the endless possibilities it offers and how it has the capacity to transform the way the world does business. Blockchain is particularly topical in our legal jurisdictions, each of which are helping lead the way in fostering a legal and regulatory landscape conducive to the continued expansion of the product. This guide is therefore an invaluable reference tool in understanding this fast-evolving sector and Carey Olsen is delighted to have played a part in its creation."

Carey Olsen has been involved in several notable transactions in the digital space, including advising Global Advisors (Holdings) Limited on the launch of the world's first regulated crypto-denominated fund, CoinShares Fund I; assisting ARC Fiduciary Ltd on the launch of Jersey's first initial coin offering (ICO); advising the Ultraviolet Foundation on its token generation event with respect to its research and data exchange blockchain platform, Ultraviolet Protocol, and working with Northern Trust on its pioneering work to launch the world's first commercial deployment of blockchain technology for the private equity market.

The Carey Olsen chapters from the Blockchain & Cryptocurrency Regulation guide have been brought together here as a single publication, while the individual jurisdiction chapters can be viewed by following the links below.

The complete Global Legal Insight guide can be accessed here.

'Carey Olsen Bermuda' is the trading name for Michael Hanson, a barrister and attorney, carrying on Bermuda legal services. The use of the title 'Partner' is merely to denote seniority. Services are provided on the basis of our current terms of business.