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Part 4/5 - Currency Token: Utility Token are a kind of digital voucher which can be redeemed against a promised service of the issuer. “True” Utility Token are not (yet) regulated as financial instruments in Germany.
After Budget 2020, Chancellor Rishi Sunak asked Ron Kalifa OBE to conduct an independent review of the UK’s fintech sector. The Kalifa Review of UK Fintech (the Review), published on 26 February 2021, outlines a ...
On 21 January 2020, members of our international payments team shared their insights into the state of payments regulation and some of the legal issues that arise for businesses.
Part 3/5 - Currency Token: Currency Token, also called cryptocurrency, are the origin of token. The most well-known example for a coin is Bitcoin. Other examples of Currency Token are Ethereum (or Ether) and Ripple
Part 2/5 - Security Token: By issuing security tokens the issuer promises some sort of return. Token can qualify as securities according to the German Security Trading Act (WpHG) and German Security Prospectus Act ...
Part 5/5 – Hybrid Forms: A token may have features of security token, currency token and/or utility token. These hybrid forms require a case by case assessment of applicable regulation.
The pandemic, lockdown and subsequent restrictions have presented an era-defining challenge to the UK’s economy and to businesses of all sizes and all stages of life. Yet important questions pertinent to the ...
HMRC finally published its policy paper on the taxation of cryptoasset exchange tokens for companies and other businesses on 1 November 2019.
The guidelines on outsourcing arrangements (Guidelines) of the European Banking Authority (EBA) entered into force. The Guidelines are aimed at harmonising the framework for outsourcing arrangements for financial ...
Blockchain is a database of all transactions across a peer-to-peer network. This is seen as the main technical innovation of Bitcoin and other cryptocurrencies, with the potential to disrupt numerous business processes.