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.