Crypto, FinTech & Digital Assets

Welcome to the home of Crypto, FinTech & Digital Assets on Law-Now. On this page, you will find all the articles and publications about crypto, FinTech and digital assets written by CMS legal experts. To stay in touch with the latest developments, please bookmark this page on your mobile or register to receive eAlerts.

Recent Articles

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    03/06/2024
    Turkiye

    Türkiye drafts long-awaited regulations on cryptoassets

    On 16 May 2024, the newest version of the highly discussed draft regulations for cryptoassets (Draft) was submitted to the Presidency of the Grand National Assembly of Türkiye.The Draft proposes regulating certain crypto activities and the cryptoasset service providers (Service Providers) under the Capital Markets Law No. 6362 (Law), specifying that provisions of the Law that does not explicitly refer to Service Providers will not apply to them. According to the explanatory memorandum accompanying the Draft, the regulations emphasise an approach that avoids hindering the development of blockchain...
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    31/05/2024
    Scotland

    Blockchain technology in the Scottish food and drink sector: against the grain?

    IntroductionScotland’s food and drink sector is reported to be a c. £15 billion industry. However, while the importance of the sector to the Scottish (and wider UK) economy is unlikely to change, the technology available to producers in terms of how they run their businesses is constantly evolving. In this Law-Now, we outline various ways in which businesses operating in the food and drink industry may be able to make use of fintech to maximise the potential of this vibrant sector. Use casesGiven the current success of the Scottish food and drink sector, producers may question...
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    28/05/2024
    United Kingdom

    A guide to the regulators’ joint consultation on implementing and operating the Digital Securities Sandbox

    On 3 April 2024, the Financial Conduct Authority (“FCA”) and Bank of England (“BoE”) published CP24/5, a joint consultation paper (“Consultation Paper”) on a suggested approach to implementing and operating the Digital Securities Sandbox (“DSS”).The DSS offers firms the opportunity to test and innovate with new technologies like distributed ledger technology (“DLT”) in relation to certain financial services activities, such as issuing, trading, and settling securities. Firms approved to participate in the DSS can operate under a tailored...
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    26/04/2024
    EU

    Update on the AML-CTF Package: Formal Adoption by the European Parliament on 24 April 2024

    Following the political agreements which have been reached earlier this year, the European Parliament has now adopted the last remaining texts of the AML-CTF Package on 24 April 2024.By way of reminder, the AML-CTF Package is composed of four legislative proposals aiming at harmonising and strengthening AML-CTF rules in the European Union:Regulation 2023/1113 on information accompanying transfers of funds and certain crypto-assets, which has already been adopted last year and will enter into force on 30 December 2024;Proposal for a Directive on the mechanisms to be put in place by the Member States...
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    24/04/2024
    Spain

    Parliamentary proceedings begin to create the Independent Administrative Authority for the Defence of Financial Customers

    On April 5, the draft law for the creation of the Financial Customer Defence Authority was published in the Official Gazette of the Spanish Parliament.1. INTRODUCTIONThe current text being processed includes modifications introduced in the previous legislature´s parliamentary procedure and which were supported by the majority of MPs. These modifications include the financing of the new Authority by financial institutions and the possibility of appealing binding decisions before the civil courts, thus guaranteeing the protection of financial clients.The Authority aims to resolve complaints...
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    19/04/2024
    United Kingdom

    Digital asset insolvency issues not insoluble for English law

    Digital assets may be new, but existing English insolvency laws and principles can deal with them. So finds the UK Jurisdiction Taskforce (UKJT) in its ‘Legal Statement on Digital Assets and English Insolvency Law’, published this week.Key takeaways include:English insolvency law is entirely capable of application to scenarios concerning digital assets, including the technical and fact-specific issues that may arise. Digital assets are capable of amounting to property for the purposes of English insolvency law. When figuring out which country has jurisdiction, the English...
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