Solak & Partners Law Firm’s Post

My latest co-authored article, "Many VASPs, Many Masters: United Arab Emirates – A Complicated Yet Permanent Home for Crypto," has been published in the International Journal of Blockchain Law by the Global Blockchain Business Council. 🌍💼 In this article, we delve into why the UAE stands out as a premier jurisdiction for Virtual Asset Service Providers. We explore the diverse regulatory landscape, comparing different regulators and their implications for VASPs operating in the region. 🔍 What you’ll discover: Insights into the regulatory environment for VASPs in the UAE. The strengths and challenges of various UAE regulators. How the UAE remains a key player in the global crypto ecosystem. Don’t miss out on understanding why the UAE is the ultimate destination for crypto ventures. 👉 Read the full article: https://t.ly/UQ4xJ #Blockchain #Crypto #VASPs #UAE #Regulation #DigitalAssets #Fintech #BlockchainLaw

Read our (TLP Advisors) latest article "Many VASPs, Many Masters: United Arab Emirates – A Complicated Yet Permanent Home for Crypto," in the IXth volume of the International Journal of Blockchain Law, published by Global Blockchain Business Council (GBBC)! 📚 🌏 In this article, we explore why the UAE has emerged as a leading jurisdiction for Virtual Asset Service Providers. We analyze the region's multifaceted regulatory framework, comparing the roles of different regulators and their impact on VASPs operating within the UAE. Gain valuable insights into why the UAE is the ideal hub for crypto ventures! 🚀

🚨 Hot off the press! Check out the latest article on the OECD’s Crypto-Asset Reporting Framework (CARF) is now live in the International Journal of Blockchain Law (pp. 27-30). 💡 "The OECD’s Crypto-Asset Reporting Framework marks a critical moment for the global tax governance of digital assets. By bringing crypto-assets into a reporting system similar to that used for traditional financial instruments, the OECD is positioning crypto as a fully recognized and regulated asset class. While CARF isn't designed to calculate crypto tax liabilities, it will significantly aid tax authorities by providing a robust mechanism for risk assessment and data-driven enforcement. This will enhance their ability to identify high-risk cases and address potential tax evasion, reshaping the landscape of digital asset compliance."

Proud to have contributed to Volume 10 of the #International #Journal of #Blockchain #Law of the Global Blockchain Business Council (GBBC), with an article on "Navigating Blockchain Innovation in Cyprus: Regulatory Advances, Challenges and the Path Forward". With continued commitment to regulatory clarity, innovation support, and cross-border compliance, Cyprus has the potential to solidify its role as a key player in the European blockchain landscape, driving both economic growth and technological advancement. You can read the full article here: https://lnkd.in/eBxaAyWd #blockchaindevelopments #IJBL #Cyprus DS Partners Law Firm

As a Latvian, I am proud to be reading the interview below where Valainis, Minister of Economics, sees blockchain technology as a catalyst for Latvia's economic growth: "Blockchain can significantly enhance sectors like financial services, public administration, supply chain, healthcare, and real estate." In June this year, regulators in the country pushed forward its “Crypto Asset Services Law,” which aims to offer a clear regulatory framework to foster growth and attract investment and supports the country’s ambitious plans to become a hub for blockchain and cryptocurrency enterprises. Valainis believes in the law’s anticipated impact and outlined Latvia's strategic vision for leveraging blockchain technology to drive its economic transformation. Valainis emphasized that the new law provides essential legal clarity for the industry, which will be “crucial for making informed investment decisions," he stated. "We are committed to a business-friendly environment. Our crypto regulation, in cooperation with the Bank of Latvia and the State Revenue Service, aims to protect consumer rights while meeting market needs." said Valainis. Latvia also plans to enable tax payments and company equity contributions with crypto assets, enhancing the ease of doing business. I am proud to see Latvia moving fast in adopting the MiCA regulation and contributing to The Latvian Blockchain Association (LBAA) as its valued member. Are you excited about the MiCA too? MiCA is not a silver bullet, and a discussion to improve it is needed. Sources: LBAA member channel on Telegram and Cointelegraph (link in the comments) #web3 #crypto #technology #innovation #Latvia

New Book: #Cryptolawgy Vol. 2 Attention: The world of crypto and blockchain is evolving rapidly. Stay ahead of the curve with the latest insights. I'm excited to announce that Roland Amoussou will be releasing his new book on Cryptolawgy Vol. 2 in just 7 days! As an international arbitration counsel and arbitrator with a focus on Thailand and the Asia-Pacific region, I've seen firsthand how crypto and blockchain are disrupting businesses and legal frameworks. In this new book, He dives deep into the most important crypto and blockchain law developments from the past year, in which he has analysed new regulations, court cases, trends and more from across the globe. Whether you're an entrepreneur, investor, lawyer or just fascinated by this emerging tech, Cryptolawgy Vol. 2 is a must-read to stay up-to-date. Pre-order your copy today to get it as soon as it's released! Cryptolawgy Vol. 2 will give you an invaluable edge in navigating the fast-changing crypto and blockchain legal landscape. Don't get left behind - pre-order now and lock in all these crucial insights! Let me know if you have any other questions! I look forward to getting Cryptolawgy Vol. 2 into your hands soon.

Emerging topics in #Blockchain #Law and insightful #crypto-topics from various #jurisdictions Key takeaways from Global Blockchain Business Council (GBBC) journal issue Good to see many jurisdictions coming up with #BlockchainLaw, #NFTlaw and #Cryptoregulation ✅ #Switzerland’s progressive approach to blockchain #regulation has established the country as a preferred destination for #blockchain-based #businesses. ✅ The Protection Act together with the #NFT Guidelines represent the latest regulatory position on #NFTs in #Korea where the FSC has urged relevant businesses to conduct timely self-assessment. Any #digitalassets that fail to be classified as NFTs would trigger the application of the reporting requirement under the #AMLAct as well as the Protection Act, violations of which may incur #criminal penalties. ✅ #Turkish #CryptoAssetLaw and #MiCAR aim to foster #transparency, #stability, and #investorprotection in the growing #cryptoasset services market. Kudos to Dr. Matthias Artzt and his team and contributors for informative articles #DLT #Cryptocurrency #FinTech #Finserv #Regulation #Supervision #Compliance #Regtech #sandbox #virtualasset #MiCA Mike Flache Francesco Burelli Tony Moroney Panagiotis Kriaris Spiros Margaris Alex Jimenez Nicolas Babin Nicolas Pinto Enrico Molinari Dr. Khulood Almani🇸🇦 د.خلود المانع Sam Boboev Amitav Bhattacharjee Prof. Dr. Ingrid Vasiliu-Feltes Efi Pylarinou Dr. Debashis Dutta https://lnkd.in/ggPsTMN2

Our firm is excited to have joined the Cyprus Blockchain Technologies Think-Tank! We look forward to participating in the advancement of and exchange of knowledge on blockchain technologies! #Blockchain #Innovation #Fintech #Damianoslaw #GloballyMinded

On the 17th of September, I attended a twitter session hosted by Hilton which was titled; Blockchain: Regulatory Framework and Compliance. It was knowledge filled and I got to learn from Deborah Enyone Oni (LLB. BL. LLM. NIM) , Mr. Abiodun On and also my fellow interns. And as always, here are some key takeaways from the session. ● Blockchain has the characteristics of immutability (the inability to delete anything), a high concentration of data on the platform, a cross-functional team, and the ability to store various types of data. ● Blockchain regulatory framework in Nigeria has evolved immensely from an opposing stance to a more positive stance and it could be seen from the CBN's Circular, Money Laundering (Prevention and Prohibition) Act, 2022 to the Securities and Exchange Commission (SEC) Rules. ● Nigeria is among the nations in Africa with the greatest number of cryptocurrency users and the largest number of peer-to-peer transactions in the continent. To leverage on this, regulations must be put in place through existing laws, amended laws (such as the Money Laundering Act, which was modified to include digital assets), and new laws (such as the CBN's Regulatory Sandbox and the SEC's Regulation of Cryptocurrency Exchanges). Nigeria is also putting itself in line with blockchain. For example, the Nigerian Bar Association added its digital stamps and seals to the blockchain along with publishing guidelines for using technology in the legal profession. While other nations, such as Malta, Switzerland, the United States of America, and others, have established efficient regulatory frameworks and compliance that have helped them in their transactions and provided legal clarity, I think Nigeria needs to adopt some of these efficient frameworks as well in order to close some loopholes and create unified regulations for us. #hiltontopsolicitors #htsfvimp8 #blockchain

On July 30, 2024, the State Duma of Russia passed significant legislation in its second and third readings, marking a new stage in the regulation of cryptocurrencies and digital rights. These developments aim to facilitate cross-border settlements and expand the use of digital rights in foreign trade. Key Highlights of the New Regulations: - Cross-Border Settlements: Cryptocurrencies can be used for cross-border settlements under foreign trade agreements within the framework of an Experimental Legal Regime (ELR). - Experimental Legal Regime (ELR): Approved by the Bank of Russia in coordination with relevant departments, this regime will have a special procedure for cryptocurrency settlements, with limited participants and a defined term of validity. - Digital Rights Circulation: New laws allow the circulation of foreign digital rights in Russia and Russian digital rights abroad, enhancing mechanisms for using digital rights in foreign trade. - Cryptocurrency Mining: Establishes legal procedures and conditions for cryptocurrency mining, introducing basic concepts and regulatory framework. These changes represent a significant step towards integrating digital assets into the Russian economy, promoting innovation, and ensuring regulatory oversight. For more updates on cryptocurrency regulations and digital rights in Russia, follow Global Regulatory Insights. #Cryptocurrency #DigitalRights #Regulation #Russia #ForeignTrade #Blockchain #FinancialRegulation #GRI