Cryptoasset, or cryptocurrency meaning

In this issue: Highlights: ECON’s FIDA report; growing focus on non‑financial misconduct; PRA feedback to c70 firms on recovery planning; EBA consults on CRR3 RTS for unfinished property; UK sanctions amendments (SI 2024/643) and updated OFSI licensing guidance; FOS update on motor finance commission complaints; FCA enforcement activity and scrutiny of plans to publicise investigations, with OFR EEA equivalence regulations and a Lords inquiry; sentences for insider dealing and perverting justice; Market Watch 79 on surveillance failings; building societies urged to embrace technology; SRB’s 2024 MREL policy; MiFID II equivalence SI; ESMA guidelines on ESG fund names and IA SDR Q&A; reminders on virtual/hybrid unitholder meetings; new PSD reporting flowcharts and an MBFS excess mileage undertaking; Solvency II technical information, Commission request for EIOPA advice, and EIOPA’s risk dashboard; concerns over pensions dashboard safeguards; ECB opinion on PSD3/PSR and PSR mid‑point strategy review; BCBS defers the cryptoasset standard to 1 January 2026 and a crypto advice firm wound up; expert views on the FCA’s stance on AI; plus alerts,...

This Practice Note on cryptoassets (a type of digital asset) for dispute resolution lawyers outlines what cryptoassets are and why litigators must understand how they function and where they feature in their cases—namely, the kinds of claims that may arise (currently involving chiefly cryptocurrencies), whether forming the crux of the dispute or appearing within the surrounding factual matrix. See: Cryptoassets for dispute resolution lawyers—overview for recognition of the broader range of digital assets (such as non-fungible tokens (NFTs) and digital securities) to which comparable issues apply regarding the status of such assets under English law as to the creation, protection and enforcement of rights, particularly given their intangible quality, the novel technologies in which they are created/exist and the largely international (and thus seemingly fluid) character commonly associated with them. Note that this is a developing area of law; see Practice Note: Tracker—cryptoassets for Dispute Resolution lawyers (though this does not address the regulatory aspects of digital assets and cryptoassets). What are cryptoassets? A cryptoasset—also referred to as...

Cryptoassets—the basics At its most basic, cryptoassets are a type of digital currency that uses cryptography to validate transactions conducted in that currency. Functioning without a central authority, they provide near-instant, pseudonymous transfers, operating outside the conventional banking system. For further reading on the formation of cryptoassets, see: Fintech—overview Cryptoassets—overview Practice Note: Web 3.0, digital assets and cryptoassets—essentials Insolvency and restructuring in the context of cryptoassets This Practice Note examines issues an insolvency professional (including an insolvency practitioner (IP)) may encounter when appointed to handle a cryptoasset-related insolvency. It does not address the position of cryptoassets within personal bankruptcy. Although it is broadly accepted that legal and regulatory scrutiny of cryptoassets lags behind, legislators and regulators—alert to their rapid expansion and market capitalisation—are swiftly strengthening existing frameworks or crafting new regimes. For further information, see Practice Notes: UK regulation of cryptoassets EU regulation of cryptoassets Supranational approach to the regulation of cryptoassets...