There are as many challenges as there are opportunities facing
financial institutions, businesses, investors and start-ups
involved in the digital/virtual asset and cryptocurrency sectors.
Governments and regulators around the world are being tasked with
providing regulatory certainty and consumer protection against the
risks and turmoil commonly experienced by the sector yet struggle
to agree on a global approach to the use of the underlying
technology and how services and value arising from it should be
treated, regulated and taxed.
Some of the most progressive and comprehensive legal and
regulatory regimes aimed at providing certainty and a reduction in
the risk of fraud, money laundering and terrorist financing in the
sector have been developed offshore in the international financial
centres that have the sophistication and experience to understand
the risks and the ambition and agility to act quickly and keep up
with the legal impact of such technological
