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  1. Legal news
    03 June 2019
    ICO: Legal Classification of Tokens: Part 4 - Utility Token
    www.twobirds.com/en/news/articles/2019/global/ico-legal-classification-of-tokens-utility-token

    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.

  2. Legal news
    11 March 2021
    The Kalifa Review of UK Fintech – A Vision for the Future of Fintech
    www.twobirds.com/en/news/articles/2021/uk/the-kalifa-review-of-uk-fintech

    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 ...

  3. Legal news
    27 January 2020
    Our Payments Regulatory 2020 Outlook webinar - now available to listen to on demand
    www.twobirds.com/en/news/articles/2020/global/our-payments-regulatory-2020-outlook-webinar

    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.

  4. Legal news
    29 May 2019
    ICO: Legal Classification of Tokens: part 3 - Currency Token
    www.twobirds.com/en/news/articles/2019/global/ico-legal-classification-of-tokens-3

    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

  5. Legal news
    28 May 2019
    ICO: Legal Classification of Tokens: part 2 - security token
    www.twobirds.com/en/news/articles/2019/global/ico-legal-classification-of-tokens-2

    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 ...

  6. Legal news
    05 June 2019
    ICO: Legal Classification of Tokens: Part 5 - Hybrid Forms
    www.twobirds.com/en/news/articles/2019/global/ico-legal-classification-of-tokens-part-5

    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.

  7. Legal news
    27 January 2021
    London & the start-up
    www.twobirds.com/en/news/articles/2021/uk/london-and-the-start-up

    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 ...

  8. Legal news
    08 November 2019
    UK tax treatment of cryptoassets for companies finally confirmed
    www.twobirds.com/en/news/articles/2019/uk/uk-tax-treatment-of-cryptoassets-for-companies-finally-confirmed

    HMRC finally published its policy paper on the taxation of cryptoasset exchange tokens for companies and other businesses on 1 November 2019.

  9. Legal news
    04 October 2019
    EBA Guidelines On Outsourcing Arrangements Have Entered Into Force
    www.twobirds.com/en/news/articles/2019/global/eba-guidelines-on-outsourcing-arrangements-have-entered-into-force

    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 ...

  10. Legal news
    16 June 2016
    Blockchain 2.0, smart contracts and challenges
    www.twobirds.com/en/news/articles/2016/uk/blockchain-2-0--smart-contracts-and-challenges

    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.