Digital assets

Recent Articles

  •  
    04/11/2024

    Financial Services Webinars On Demand

    View recordings of CMS financial services webinars available on demand.Webinars are a convenient way to stay informed and hear from our legal experts.Webinars On Demand
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    09/10/2024

    The DFSA publishes explainer on the regulation of Crypto Tokens in the DIFC

    The Dubai Financial Services Authority (“DFSA”) has published a comprehensive explainer (the “Explainer”) on its approach to regulating financial services in respect of “Crypto Tokens” carried on in or from the Dubai International Financial Centre (“DIFC”). We have set out some key takeaways from the Explainer below.1. Crypto Tokens and the recognition criteriaThe DFSA confirms that Crypto Tokens are tokens that are used or intended to be used as a medium of exchange or for payment or investment purposes. The definition of a Crypto Token does...
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    08/10/2024

    Digital Securities Sandbox applications now open: our summary of updates and clarifications from the regulators

    On 30 September 2024, the Bank of England (the “Bank”) and Financial Conduct Authority (the “FCA”) (together, the “Regulators”) issued a joint policy statement (the “Policy Statement”) addressing responses to the Digital Securities Sandbox (“DSS”) consultation paper (the “Consultation Paper”), which was released in early April 2024. Our full analysis on the original Consultation Paper proposals has been discussed here. We have set out a summary of the fees, assessments, and supervisory approach at each of the five stages of...
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  •  
    07/10/2024

    Financial Services Webinars On Demand

    View recordings of CMS financial services webinars available on demand.Webinars are a convenient way to stay informed and hear from our legal experts.Webinars On Demand
    Read more
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    01/10/2024

    D'Aloia v Persons Unknown: English High Court clarifies law on crypto and constructive trusts

    Fabrizio D'Aloia v Persons Unknown Category A, Binance Holdings Limited, Polo Digital Assets Inc, Gate Technology Corp, Aux Cayes Fintech Co Ltd, Bitkub Online Co Ltd, Persons Unknown Category B (EWHC 2342 (Ch), 12 Sep 2024)D’Aloia will be a case name recognised by those with an interest in crypto law.  As previously reported (see CMS Law-Now here), on 24 June 2022, the High Court granted Mr D’Aloia (“Claimant”) an order permitting service of proceedings on persons unknown via a non-fungible token (NFT) .The claim against Binance Holdings Limited has since been settled,...
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    30/09/2024

    UAE: VARA issues further regulations and guidance on marketing virtual assets and related activities in Dubai

    The Dubai Virtual Assets Regulatory Authority (“VARA”) has published new regulations (the “Regulations”)[1] and accompanying guidance (the “Guidance”)[2] on the marketing of virtual assets (“VAs”) and related activities (“VA Activities”) in Dubai (together the “Marketing Regulations”). The Marketing Regulations supersede the existing regulations[3] in relation to marketing VAs and VA Activities in Dubai (the “Existing Regulations”), and will be effective from 1 October 2024, although entities that have received...
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