New developments in cryptoassets continue to shape legal frameworks and policies and influence business decisions and investments. Crypto around the World covers cryptoasset regulations across various jurisdictions by answering 20 questions. Drawing on the global reach of our regulatory expertise at Baker McKenzie, this publication highlights developments and various approaches in Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) and cryptoassets regulation in EMEA, Asia Pacific, and the USA.

In light of re-invigorated crypto investment activity thus far in 2021, we expect that regulators will remain active for the foreseeable future as cryptoassets become more and more mainstream. Therefore, financial institutions offering crypto-related services will be expected to assess, address and mitigate the risks associated with them, namely, fulfilling their anti-money laundering and combatting the financing of terrorism (AML/CFT) obligations.

Among the questions covered in this guide include:

  • Laws or provisions transposing the Fifth Money Laundering Directive (5MLD) with regard to crypto/virtual assets
  • Regulations on crypto/virtual asset providers and related professions
  • Protection for investors of crypto/virtual assets (e.g., consumer law, advertising, financial compensation scheme, and others)
  • Regulation of initial coin offerings (ICOs)
  • Relevant tax provisions
  • Relevant financial services regulatory / licensing regimes
  • Other important and specific rules and provisions

In this edition of the guide, we cover thirteen jurisdictions across three major regions – Asia Pacific (Australia, Singapore, Taiwan, and Thailand), EMEA (Belgium, France, Germany, Italy, The Netherlands, Switzerland, UK and Ukraine), and North America (USA). You can read the most recent version and visit our page to see more updated content and relevant information.

Author

Iris Barsan is a Counsel at Baker McKenzie's Paris office, advising clients in banking and financial regulation related matters as well as in compliance. She holds a doctorate in French and German law, an LL.M. from the University of Cologne and is a former student of the ENA (Willy Brandt promotion). In addition to her practice as a lawyer, Iris is an assistant professor at the University of Paris XII. She teaches company law (French, European and comparative), European business law, financial regulation and personal data and new technologies law.

Author

Christopher Murrer is an associate in the FinTech, International Tax and Wealth Management practice groups of Baker McKenzie Zurich. He advises multi-national financial institutions in matters of regulatory compliance, with a particular focus relating to tax investigations involving the US Department of Justice. Further, he provides legal advice to start-up and established block chain, crypto and distributed ledger technology based companies on structuring, implementing transactions, taxation, and other regulatory issues.

Author

Julian Hui is a Senior Associate in Baker McKenzie's Financial Services Group in London. Julian advises on regulatory and compliance issues relating to financial institutions' core regulatory obligations, product structuring and new product offerings, commercial and contractual arrangements and regulatory and compliance enforcement and investigations. Julian has completed secondments to UBS AG and Western Union Business Solutions. He is currently on secondment from the Australian offices of Baker & McKenzie and has extensive experience with both Australian and English financial regulation and financial services business.