Burges Salmon collaborates with international law firms to publish report on UK and EU cryptoasset regulation
In collaboration with 19 firms from its international Preferred Firm Network, Burges Salmon has published an interactive report on the regulatory treatment of cryptoassets in jurisdictions throughout the UK and EU.
Burges Salmon’s Fintech team has teamed up with Tier One law firms across its Preferred Firm Network to produce a comprehensive paper presenting a snapshot of cryptoasset regulation across 27 European jurisdictions.
The report, ‘Cryptoassets: A UK and European perspective on the regulation of cryptoassets’, consolidates information on the financial regulatory frameworks pertaining to these various jurisdictions, with a view to offering guidance on this rapidly advancing and innovative product in the Fintech arena.
With cryptoassets coming increasingly under the commercial and regulatory spotlight in the UK and the EU, 2019 saw authorities across the continent launching consultations, issuing statements and implementing specific legislations within their respective jurisdictions to manage cryptoasset-related activity.
This paper has been produced against this backdrop, with multijurisdictional projects posing significant complications as a result of the differing stances taken by the UK and EU countries in their domestic regulations.
Director Sarah Kenshall, associate Gareth Malna and trainee solicitor Paschalis Lois from Burges Salmon’s Fintech team have worked closely with Tier One firms within its strong international network across each jurisdiction to produce the report.
Ms Kenshall said: “Burges Salmon’s Fintech industry expertise is widely recognised by legislators and regulators, and we are delighted to be leading the way in publishing this report, providing unique insight into the truly multijurisdictional nature of cryptoassets.
“We have built strong relationships with our Preferred Firm Network internationally and we are hugely grateful for the expert knowledge they have shared with us and their collaborative efforts to pull this paper together.”
Guildhall Chambers’ Lucy Walker, who provided the foreword for the paper, added: “The technical, commercial and regulatory landscape relating to cryptoassets continues to move so rapidly that a guide of this nature is essential reading for those seeking to navigate this brave new world.”