Cryptoasset regulatory and risk developments: the global picture

The regulation of cryptoassets around the world is an evolving landscape. In the EU, for example, the Markets in Crypto-Assets Regulation (MiCA) will apply in full from the end of 2024, while in the UK and Asia, governments and regulators are in the process of developing their own regulatory frameworks. Crypto trading platforms have also been at the centre of a number of enforcement actions in several jurisdictions, prime examples being the conviction in November 2023 of Sam Bankman-Fried for fraud following the collapse of the FTX cryptocurrency exchange, as well as lawsuits brought by the US Securities and Exchange Commission against several other high-profile exchanges.

On Monday 29 January 2024, a panel of senior Freshfields lawyers from the US, UK, Germany and Hong Kong participated in a live webinar in which they discussed the developing landscape for cryptoassets around the world. Tim Howard, a partner in the New York office who formerly worked for the United States Attorney’s Office for the Southern District of New York, kicked off proceedings with an insightful analysis of the Bankman-Fried trial, after which Cyrus Pocha (London), Janina Heinz (Frankfurt), Matt O’Callaghan (Hong Kong) and Dave Sewell (New York) focused on the evolving regulatory frameworks in their respective jurisdictions.

To access a recording of this webinar, please click here.

This is the third in a series of live webinars that Freshfields will be presenting over the coming months on global trends in financial services and regulation, featuring lawyers from different regions to give an international perspective on the various topics. Information on the next webinar will be available in due course.

For a guide to MiCA and what cryptoasset issuers and service providers need to do to comply with the new EU framework, please see our navigator.