Jurisdiction(s):
United Kingdom

Key definition

Asset definition

What does Asset mean? In legal practice, an asset is any thing of economic value that a person or entity owns or controls and can realise, transfer, secure or enforce. The term is descriptive and used across contexts (company law, trusts, matrimonial finance, probate, enforcement and insolvency), with specific legislation or rules defining it for particular purposes (for example, insolvency, taxation and financial services). Assets include land and buildings, cash and bank balances, securities (shares, bonds and other fixed‑income instruments), receivables, contractual rights (choses in action), intellectual property, goodwill and, increasingly, cryptoassets. Assets may comprise legal or equitable interests and can be tangible or...

Cryptoassets: economic benefits, operational limits, and legal/regulatory risks—consumer protection, AML/CTF, security, volatility and environmental impact

Published by a LexisNexis Financial Services expert

Practice notes

What are cryptoassets?

One difficulty in grasping non-traditional money and assets is the inconsistent terminology. Regulators, tax bodies and commentators speak of digital currencies, virtual currencies, cryptocurrencies, cryptoassets and crypto tokens, and it is often uncertain whether the labels are being swapped freely or used with their distinct meanings in mind. For definitions, see Practice Note: Web 3.0, digital assets and cryptoassets—essentials. That Practice Note considers the benefits and drawbacks of using cryptoassets. A range of advantages helps explain their rapid rise in popularity, but these must be weighed against risks inherent in the cryptoasset.

Pros of cryptoassets

Below are some of the advantages of cryptoassets (notably when used as a fiat Currency substitute):

lower transaction costs compared with transfers of real currency and assets
transparent costs and charges—hidden fees and extra charges common in other online payment methods are absent in Bitcoin transactions
contribution to the economy and access to markets that were historically inaccessible
quicker, more efficient processing of...

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Puesan Lam

DLA Piper

Puesan advises clients on a wide range of regulatory and compliance matters, including: authorisation and perimeter issues; prudential and conduct of business requirements, regulatory filings, regulatory investigations, insider dealing and market manipulation issues and EU regulatory matters, such as MiFID II, EMIR, AIFMD and PSD. Her experience includes -Advising on regulatory issues arising from cross-border corporate transactions -Advising a high-frequency prop trader on the revised scope of MiFID and implications for the its business -Advising former OFT licensed firms on the new FCA consumer credit regime -Advising an outsourced business provider in relation to its provision of outsourcing services to UK retail banks -Advising asset managers on compliance issues, including outsourcing, conflicts of interest and remuneration matters -Advising non-EU entities on their obligations under EMIR -Advising non-EU asset managers on marketing issues and remuneration disclosures under AIFMD. Lexis PSL Financial...

Tony Katz

DLA Piper

Tony Katz is Head of Financial Services and Investigations at DLA Piper and he focuses on regulatory work (both advisory and contentious) for financial institutions and global investigations. He advises leading financial institutions, banks, funds, brokers, trading firms, payment services and other financial services firms on a range of advisory and contentious issues. Tony has deep experience in contentious matters, including regulatory and exchange investigations in the UK, EU, the US and Asia. He also has extensive experience in conducting cross-border internal investigations and advises specifically on the UK Bribery Act including advising on Section 7, Adequate procedures' defence and drafting adequate procedures for clients. Prior to joining DLA Piper in 2014, Tony was partner at Orrick, Herrington and Sutcliffe; in the Financial Institution Regulatory practice, and a member of the European Litigation Group. He was also Group Head of Compliance at the Liquid Capital Group, the...

Web page updated on 21/05/2026

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