Latham & Watkins lawyers provide an in-depth look at the regulation of cryptoasset trading platforms in key jurisdictions.
By Todd Beauchamp, Nozomi Oda, Yvette D. Valdez, Stephen P. Wink, and Simon Hawkins
Cryptoasset trading is a fast-growing part of the financial sector. Some countries have wholeheartedly embraced cryptoassets; others have been more reticent to permit widespread adoption. Generally, countries either interpreted existing laws and regulations to apply to cryptoassets, adopted new laws or regulations to specifically address cryptoassets, or embarked upon some combination of the two. Due to their use of blockchain and other distributed ledger technology, cryptoassets are, in most cases, inherently cross-border and cross-jurisdictional, and nothing but legal regimes keep them within certain borders. Thus, most issuers of cryptoassets and trading platforms must address multiple legal and regulatory frameworks when attempting to enter the market.
In this article, originally published as a chapter in Global Legal Insights’ Fintech 2019 issue, Latham & Watkins lawyers explore the regulation of cryptoasset trading platforms in the European Union, the United States, Hong Kong, Singapore, the Philippines, Thailand, and Japan.
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