- within Accounting and Audit, Immigration and Insurance topic(s)
- in European Union
Digital Assets/ Fintech and Crypto are relevant trends in the sense that everyone has resigned to the fact that they are not going away. Practitioners do not need to understand every technical element, but they are going to have to deal with it. Bermuda's digital asset laws put the jurisdiction ahead – the laws create a clear regulatory frameworks for digital assets. More and more people within the trust industry are talking about the structuring around digital assets - how you define it and how you hold it. These are important questions - the UK position is that whoever has the coin, wherever they are in the world, that's where it is. But your crypto account could be anywhere. Everyone has accepted the volatility and the point that it's high risk, and with high risk assets, more things need to be in place. So you can't have everything in one asset class. But is any of that really new? There's lots of high risk asset classes – any start-up is high risk, for example. Risk isn't bad, it just has to be managed.
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