The FinTech team at Hassans in Gibraltar keep track and analyse the latest developments and challenges in the FinTech industry on a regular basis. Adding their own insights on developments, the Digest brings those involved in space quickly up to speed.
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Latest Developments
MiFID II ‘reverse solicitation’ rules post-Brexit
Against the backdrop of Brexit, ESMA issued a public statement on 13.01.21 to remind firms of the requirements under the MiFID II Directive of the provision of investments services to retail or professional clients by firms not established or situated in the EU… Read more
Gibraltar financial services firms have exclusive rights to passport their services into the UK
In light of Brexit, both the Gibraltar and UK governments put in place a temporary permissions regime to ensure that licensed financial services firms in either jurisdiction can continue to access the others markets post-Brexit. These transitional… Read more
HM Treasury launches consultation on UK regulatory approach to crypto assets and stablecoins
In a continued effort to assess how best to approach crypto asset regulation in the United Kingdom, HM Government has launched a consultation with a focus on stablecoins. On 7 January 2021, HM Treasury released a document setting out a proposed… Read more
FCA bans the sale of crypto-derivatives to UK retail consumers as of 6th January 2021
The Financial Conduct Authority’s (FCA) ban on the sale of derivatives and exchange traded notes (ETNs) that reference certain types of crypto-assets to retail consumers is now in effect in the UK… Read more
Gibraltar Foundations & Purpose Trusts as Governance Vehicles for Decentralised Crypto Protocols
Protocol Governance Vehicles In this note we discuss why decentralised crypto projects should look to Gibraltar to set up their off-chain legal structures. Gibraltar has positioned itself as a prime crypto jurisdiction by providing legal and… Read more
Central banks publish first report on CBDCs
On 9 October 2020, the group published its first report on the foundational principles and core features of central bank digital currencies (CBDCs). The group is comprised of: Bank of Canada, European Central Bank, Bank of Japan, Sveriges Riksbank… Read more
Client Insights
Staying ahead of the curve: Gibraltar’s pioneering crypto regulation
eToroX, eToro’s highly effective, trusted, and secure crypto trading solution, have republished their analysis from mid-2020 on Gibraltar’s pioneering activity in the blockchain space… Read more
Recent Key Work & Milestones
Hassans ranked Tier 1 for third year running in Chambers’ FinTech: Professional Advisers Guide
Chambers and Partners launched their FinTech: Professional Advisers 2021 guide.
The two co-leads of Hassans’ 13-strong FinTech team, Anthony Provasoli (“top-notch, experienced professional”…”a leader who goes to great lengths to ensure… Read more
Taxation of Crypto Assets
Vikram Nagrani, Partner and Co-Head of the Hassans’ FinTech team, contributed to the Gibraltar chapter of the “Taxation of Crypto Assets” book, published by Kluwer Law International. The book covers the taxation of… Read more
