CRYPTOASSETS

CRYPTOASSETS: EXPERT LEGAL SUPPORT FOR DIGITAL ASSETS

The rise of cryptocurrencies, non-fungible tokens (NFTs) and blockchain technology has created exciting opportunities but also complex regulatory challenges. At Gherson, we specialise in providing expert legal advice to individuals dealing with cryptoassets, ensuring compliance with evolving regulations and offering robust defence in disputes or investigations.

WHAT ARE CRYPTOASSETS?

Cryptoassets are digital representations of value that use blockchain technology to operate securely and independently of traditional financial institutions. Common types of cryptoassets include:

• Cryptocurrencies: Bitcoin, Ethereum and other digital currencies used for transactions and investments.
• Non-Fungible Tokens (NFTs): Unique digital assets representing ownership of art, collectibles or other media.
• Stablecoins: Cryptocurrencies pegged to the value of a fiat currency or commodity.

While cryptoassets offer financial and technological innovation, they are subject to increasing regulation to prevent misuse and ensure transparency.

KEY CHALLENGES WITH CRYPTOASSETS

Dealing with cryptoassets can expose individuals to legal risks, including:

• Regulatory Compliance: Navigating the Financial Conduct Authority’s (FCA) registration requirements and anti-money laundering (AML) obligations.
• Taxation: Understanding and complying with tax reporting requirements for cryptoasset transactions.
• Fraud and Security: Addressing scams, fraud and theft involving digital assets.
• Disputes: Resolving ownership, contractual or transactional issues related to cryptoassets.

HOW GHERSON CAN HELP

Our team of legal experts offers comprehensive support for all aspects of cryptoassets, including:

1. Regulatory Advice
   • Assisting with FCA registration and compliance with UK cryptoasset regulations.
   • Advising on AML obligations and risk mitigation strategies.
2. Tax Guidance
   • Advising on tax obligations related to cryptoasset holdings, investments and transactions.
   • Ensuring accurate reporting to HMRC to avoid penalties.
3. Dispute Resolution
   • Representing clients in disputes involving fraud, breaches of contract or misrepresentation in cryptoasset transactions.
   • Recovering stolen or lost cryptoassets.
4. Defence in Investigations
   • Representing individuals under investigation for alleged misuse of cryptoassets, such as money laundering or fraud.
   • Challenging enforcement actions or asset freezes involving digital currencies.
5. Policy and Compliance
   • Developing bespoke policies for managing and securing cryptoassets.
   • Providing training on cryptoasset regulations and best practices.

WHY CHOOSE GHERSON?

• Specialist Expertise: Our team has in-depth knowledge of the legal and regulatory landscape surrounding cryptoassets.
• Tailored Solutions: We provide personalised advice and representation to meet your unique needs.
• Proven Track Record: Successfully advised and defended clients in complex cryptoasset cases.

OUR TEAM’S TRACK RECORD

Cryptoasset and NFT Regulation and Litigation

• Providing advice and assistance to numerous companies and individuals in connection with establishing whether their company activities and/or cryptoasset transactions crossed into the regulatory sphere, and identifying the necessary authorisation and/or licensing, if required.
• Advising on anti-money laundering compliance procedures, including in relation to cryptoassets and NFTs.
• Advising in relation to litigation in a multi-jurisdictional cryptocurrency-related dispute.
• Assisting and advising MusicArt (the only planet-friendly NFT marketplace) in complying with relevant anti-money laundering (AML) law and regulations. Gherson advises Non-Fungible Token marketplace company MusicArt
• Global Reach: Expertise in cross-border issues involving digital assets in multiple jurisdictions.

CONTACT US

If you require legal advice or representation for issues involving cryptoassets, contact Gherson today. Our expert team is here to help you navigate the complexities of digital assets with confidence.