LawBEAM

LawBEAM will be attending TOKEN2049 Singapore, the world’s largest crypto and blockchain conference. Our team will be on hand to discuss how LawBEAM can support your crypto legal needs. Contact us at hello@lawbeam.io to schedule a meeting. We look forward to seeing you in Singapore! TOKEN2049 #singapore #crypto #law

*FCA Tightens Reins on Crypto Promotions* 🌞 While many were enjoying their summer holidays, the FCA released two important updates in relation to UK crypto financial promotions. 🚨The first outlined the FCA’s insights into recent enforcement actions. The FCA intervened over 3,000 times in Q2 2024 and issued 528 alerts on unauthorised firms. 📚 The second release set out the FCA’s expectations in relation to the “back end” crypto promotion rules. The FCA has reiterated that firms making crypto promotions must have strong systems and controls in place. 👉 Our latest Client Alert breaks down the FCA updates and highlights the key implications for crypto clients. LawBEAM Client Alert: https://lnkd.in/e8uV-k_b #FCA #FinancialPromotions #Crypto #CryptoLaw #Regulation 

💢 MICA Disharmony Alert The EU's Markets in Cryptoassets Regulation (MICA) aims to harmonise the crypto landscape across Europe. Yet, varying adoption timelines among member states threaten to create fragmentation and an uneven playing field over the next 18-24 months. 🔍 In our latest blog post, we delve into the key considerations for clients navigating this complex regulatory environment. Learn more here: https://lnkd.in/e2-5TVYN #MiCA #CryptoRegulation #EU #Fintech #CryptoLaw

LawBEAM is at #TOKEN2049 in Dubai UAE. Get in touch if you'd like to meet and engage on law and regulation, crypto, and blockchain. #token2049 #dubai #UAE #lawbeam

HM Treasury has published a consultation on improving the effectiveness of the UK Money Laundering Regime. This is a significant opportunity for crypto businesses to shape the future of AML/CTF regulations in the UK. The consultation covers four areas: 1.        Making customer due diligence more proportionate and effective 2.        Strengthening system coordination 3.        Providing clarity on scope of the MLRs 4.        Reforming registration requirements for the Trust Registration Service HM Treasury is keen to hear from a wide range of stakeholders in response to the consultation, including crypto businesses. We encourage all crypto firms to participate in this consultation. A strong and future-proof AML framework is essential for a thriving crypto industry while protecting the integrity of the UK's financial system. Deadline for responses is 9 June 2024. LawBEAM is committed to keeping you informed on developments in crypto regulation. Please contact us if you have any questions. #CryptoRegulation #UKCrypto #AML #FutureProof https://lnkd.in/eQbfD7hb

Financial Conduct Authority is taking decisive actions against crypto firms illegally promoting to UK consumers. Highlights from the FCA's latest Financial Promotions dataset include: ⚠ Alerts Issued: Over the last quarter of 2023, the FCA issued 450 consumer alerts against firms for illegal cryptoasset promotions. ❌ App Removals: 35 apps removed from the App Store. 🛑 Tech Partnerships: FCA is collaborating with technology companies to identify and block illegal promotions. 🔎 2024 Outlook: FCA is committed to maintaining and intensifying its actions against illegal financial promotions. The FCA is also concerned that regulated firms are not doing enough to meet their own obligations when providing support services, such as payment services, to crypto firms. We expect to see heightened regulatory vigilance across the crypto and digital asset eco-system as the year progresses. #FCA #FinancialCompliance #Cryptoassets #RegulatoryAction #ConsumerProtection

#MICA #Alert The EU’s financial markets regulator (ESMA) is consulting on Reverse Solicitation and the classification of crypto-assets as financial instruments under MICA. The proposed guidance confirms ESMA’s previous message that the provision of crypto-asset services by a third-country firm is limited under MICA to cases where the client is the "exclusive initiator of the service". ESMA is also seeking input on establishing clear conditions and criteria for the qualification of crypto-assets as financial instruments. Further details and papers here: https://lnkd.in/dP3issNV https://lnkd.in/dFEQdTAg https://lnkd.in/dPpS-HHB

LawBEAM is pleased to present our latest Client Report, showcasing our insights for the year ahead. Discover: 🌟 The Big Picture: how 2024 is shaping up to be a pivotal year for the crypto industry 💡 Tech Trends: Stay ahead with insights on cutting-edge technology trends in the crypto sector. ⚖️ Legal & Regulatory Insights: on the evolving legal and regulatory frameworks across the globe. 🌍 Global Focus: Special spotlight on key jurisdictions including 🇬🇧 UK, 🇪🇺 EU, 🇺🇸 US, 🇦🇪 UAE, and 🇭🇰 Hong Kong. 🚀 Download the report here or visit www.lawbeam.io learn more. #LawBEAM #Crypto #2024 #Legal #Regulation #Insights #Blockchain

“The UK is the obvious choice for starting and scaling a cryptoasset business. The UK is the largest financial centre globally outside of the USA, and its tech industry is worth over $1 trillion. This combined with world-leading systems of law and financial regulation makes for a potent combination.” (HM Treasury) 📚 The UK Government recently published its latest proposals for the regulation of the UK crypto sector. 💡 The plans demonstrate the Government's ambition of creating a robust and forward-thinking regulatory framework. 📅 New legislation will be introduced in 2024 and will have a major impact on all crypto businesses. 🚀 Read our latest Client Alert to learn more. https://lnkd.in/euYdG2Jb #crypto #law #regulation #digitalassets #lawbeam