ICOs

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Bermuda funds in a digital age

Bermuda funds in a digital age

By Matthew Ebbs Brewer, Sally Penrose & Alexis Haynes, Appleby Global – As interest continues to be shown to the growing digital asset industry, attention is being given to the concept of tokenising investments in mutual funds. In 2018, Bermuda implemented a specific legislative regime to regulate activities involving digital assets and has well-established investment funds legislation. This article considers how these two frameworks can work together so that those looking to launch regulated fund products involving digital assets are able to do so from Bermuda.

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The British Virgin Islands’ fintech revolution

The British Virgin Islands’ fintech revolution

By Phillip Graham, Partner, Harneys – The BVI is reportedly the second biggest cryptocurrency market in the world, according to statistics published by CoinShares, which used data collected from the 15 biggest cryptocurrency exchanges and concluded that the BVI had a trading volume in crypto assets valued at USD78.5 billion, in the first six months of 2018. This puts it just USD5.3 billion behind the USA. We also noted in a recent PwC report that two of the three largest Initial Coin Offerings (ICOs) have also been domiciled in the BVI.