Digital Assets/ Fintech and Crypto are relevant trends in the
sense that everyone has resigned to the fact that they are not
going away. Practitioners do not need to understand every technical
element, but they are going to have to deal with it. Bermuda's
digital asset laws put the jurisdiction ahead – the laws
create a clear regulatory frameworks for digital assets. More and
more people within the trust industry are talking about the
structuring around digital assets - how you define it and how you
hold it. These are important questions - the UK position is that
whoever has the coin, wherever they are in the world, that's
where it is. But your crypto account could be anywhere. Everyone
has accepted the volatility and the point that it's high risk,
and with high risk assets, more things need to be in place. So you
can't have everything in one asset class. But is any of that
really new? There's lots of high risk asset classes – any
start-up is high risk, for example.
