Blockchain

New technologies and business models disrupt businesses and everyday life worldwide. Qualified lawyers will assist companies with identifying legal risks and understanding the legal boundaries their technologies and models must operate within. We assist in “go-to-market” preparations and with licensing issues, consultations with regulators, onboarding processes with credit institutions and preparations for compliance procedures.

Being a part of the world of startups, we witness many innovative ideas that bring changes into our everyday life. Blockchain and cryptocurrency have shown a big potential to fully transform how the conservative financial system works. As the regulation of the financial sector is burdensome, some countries have introduced sandboxes – a special legal regime for new ideas that allows them to be tested in the market without having to comply with the general legislation and applying for licenses just to get started.

FINDING AND CREATING LEGAL FLEXIBILITY

FOR INNOVATIVE MODELS

In most cases, there are no easily recognizable regulations governing new technologies or innovative business models. Pre-existing regulations often hinder innovative business ideas to come to fruition or may create disproportionate and non-flexible obligations that may be completely irrelevant to a new innovative business model. This makes it necessary to either zigzag around the regulation or lobby for a change in the existing legislation.

However, the main task is to understand if there is legislation in place and, if so, how the legislation applies to the particular business model what to expect and perhaps if the current legislation favours some business models more than others.

WE OFFER SOMETHING UNIQUE

MUNG’s specialists understand how the technology works and follow closely what is happening in this domain in different sectors, but primarily in the financial sector. Our specialists have experience in identifying and managing the legal risks that may arise from innovative technologies or business models. MUNG has knowledge in advising initial coin offering (ICOs), applying for licenses for cryptocurrency exchanges and compliance issues, etc.

Our expertise includes among others:

Digital asset trade licence (both in Hong Kong and Singapore)

SAFT Agreement

SFC licensing

Digital asset platform with brokerage, exchange, custody and SaaS solution

TCSP licence application and corporate restructuring

Anti-Money Laundering (AML) and Know-Your-Customer (KYC) rules

Cryptocurrency – exchanges, and transactions

Blockchain technology applications

Initial coin offerings (ICOs), IEDs, IDOs and staking

Financial services regulation

Payment service and e-money institutions

Peer-to-Peer (P2P) debt and equity financing

Crowdfunding and -investing

Corporate contributions to share capital in cryptocurrency

Tax advice in the cryptocurrency or token sale domain

Capital markets regulation

Data protection

Intellectual property

Litigation

Pre-IPO investments