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News & Insights

Cayman Crypto Bulletin - March 2018

  
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Welcome to our first Stuarts Crypto Bulletin.

In this edition, you will read about topics including:

  • Initial Coin Offerings in the Cayman Islands
  • Crypto Industry Update
  • Moving your FINTECH Business to the Cayman Islands

We hope you will find the newsletter of interest.

Kind regards,

Chris Humphries

Managing Director

Chris Humphries

We have experienced a rapid growth in Initial Coin/Token Offerings over the course of the last year and we have now advised on the launch of several dozen ICOs (both in relation to utility tokens and tokenized investment funds). Whilst no specific legislation has been passed by the Cayman Islands Government in connection with ICOs and cryptocurrencies, it would be incorrect to say that ICOs are “unregulated”. The fact is that some of the existing legislation in the Cayman Islands can, and in certain circumstances will, be applicable. We suspect that more-specific guidance will be issued by the Cayman Islands Monetary Authority very shortly and that positive legislation will eventually be created.

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As Cryptocurrencies push into the developing market, providing cross jurisdictional regulatory compliance at scale will continue to be problem. It seems likely that the market will see further innovation and disruption as these platforms begin to mature.

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We are experiencing a need for ICOs and blockchain technology projects to have a real, physical presence here in the Cayman Islands.

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