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Introduction
Our specialists on artificial intelligence, blockchain technology and web3 spanning multiple offshore jurisdictions offer clients exceptional market insights and cover the fintech ecosystem advising on decentralized autonomous organizations (DAOs), decentralized finance (DeFi) and the Web3 landscape generally. We have established ourselves as the market leader in the Cayman Islands and British Virgin Islands (BVI) for creating and implementing a variety of innovative and regulatory compliant structures and have experts across our jurisdictions, including Hong Kong, BVI and Cayman which are fully engaged with their local regulators to help steer the future regulatory landscape.
We advise distributed ledger technology trading platforms, developers, issuers and investment managers on structuring, licensing, and other regulatory requirements in relation to the development, financing, intellectual property protection, issuance, offering, trading and investment management of digital assets using Cayman and BVI corporate structures.
Scope of Services
- Regulatory and compliance
- Structuring, investment structuring, formation and virtual assets funds
- Intellectual property protection
- Offshore technology funds and other funding vehicles including ICO, ITOs, tokenized and cryptocurrency funds
- Restructuring and corporate recovery
- Dispute resolution & Litigation
- Decentralized autonomous organizations (DAOs) and De-Fi
- FinTech investments and funding
- VASP regulations and digital assets
- Economic Substance
- Tokenization, blockchain, electronic payments and e-transactions and smart contracts
- Regulatory memorandum of advice
- Physical presence business set up or relocation of web3/ offshore digital technology business
- FinTech development and artificial intelligence and data commercial contracts
- Data privacy and cybersecurity
News and Insights
Key factors for launching a virtual assets business in the BVI
The British Virgin Islands (“BVI”) continues to attract virtual assets businesses seeking to capitalize on its status as a leading offshore financial centre. Unlike many other jurisdictions that have either prohibited certain types of virtual assets or imposed material restrictions on them, the BVI has become renowned as…
BVI treatment of DAOs in insolvency
By way of an update on our recent publication (which can be found here) that the Financial Action Task Force (FATF) had determined that the Cayman Islands has substantively fulfilled its action plan, and following completion of a recent on-site visit by the FATF, the Cayman Islands has…
Loeb Smith Attorneys Advises Alpha Technology Group Limited and Lion Group Holding Ltd in their Share Capital Restructuring
Hong Kong (January 9, 2025) Loeb Smith Attorneys, one of the leading offshore corporate law firms with a strong growing presence in the APAC region, has recently advised Alpha Technology Group Limited (Nasdaq: ATGL), a British Virgin Islands company, and Lion Group Holding Ltd (Nasdaq: LGHL), a Cayman…
Loeb Smith has been ranked amongst Top 30 Asia’s Fastest Growing Law Firms in 2024 by Asia Legal Business
Hong Kong (December 2, 2024) – We are very pleased to announce that our Firm has been recognised in The ALB Fast 30 list for a second year in a row.
Loeb Smith Attorneys’ Hong Kong team continues its fast growth and is ranked on ALB HONG KONG FIRMS TO WATCH 2024 list
Hong Kong’s status as a global financial centre has fostered a highly competitive legal market. Fast growing law firms have emerged as significant contributors, demonstrating exceptional capabilities and a deep understanding of local business needs. ALB continues to identify and recognise these standout firms for their achievements.
Finalist Selections Reveal for ALB Hong Kong Law Awards 2024
By way of an update on our recent publication (which can be found here) that the Financial Action Task Force (FATF) had determined that the Cayman Islands has substantively fulfilled its action plan, and following completion of a recent on-site visit by the FATF, the Cayman Islands has…
Crypto Regulation
Regulation of crypto exchanges and other crypto services in the Cayman Islands The Virtual Asset (Service Providers) Act, 2020 (VASP Act) as amended, provides a legislative framework for the conduct of virtual assets busi¬ness in the Cayman Islands, and the registration and licensing of persons providing virtual asset…
Loeb Smith has been recognised amongst Top 30 Asia’s Fastest Growing Law Firms in 2023 by Asia Legal Business
facebook sharing buttontwitter sharing buttonlinkedin sharing buttonwhatsapp sharing buttonwechat sharing buttonsharethis sharing button We are pleased to announce our firm’s recognition on The ALB Fast 30 list which reinforces the firm’s growth strategy in Asia by providing high quality technical legal advice and commercial solutions, outstanding client services,…
Key factors for launching virtual assets business in BVI
The British Virgin Islands (BVI) continues to attract virtual assets businesses seeking to capitalise on its status as a leading offshore financial centre. Unlike other jurisdictions that have either prohibited certain types of digital assets or imposed material restrictions on them, the BVI has become renowned as the…
Legal Alert: Persons carrying on Business as Virtual Assets Service Providers Act in the BVI.
The Virtual Assets Service Providers Act 2022 (the “VASP Act”) was enacted in the British Virgin Islands (“BVI”) on 1 February 2023. It creates the legal framework for the registration and supervision of Virtual Assets Service Providers (“VASPs”) operating in and from within the BVI.
Tips and traps for BVI, Cayman Islands cryptocurrency trading vehicles
The British Virgin Islands (BVI) and the Cayman Islands remain among the most popular jurisdictions for incorporating cryptocurrency trading vehicles. For example, the bankrupt cryptocurrency exchange FTX Trading identified that 22% of its customer base is located in the Cayman Islands, with 11% in the BVI. This is…
BVI expands scope of its Anti-Money Laundering Regime to Virtual Asset Service Providers.
The British Virgin Islands (“BVI”) has expanded the scope of its Anti-Money Laundering (“AML”), Counter Terrorist Financing (“CFT”) and Counter Proliferation Financing (“CPF”) laws to cover, among other things, virtual asset businesses. Under the BVI’s Anti-Money Laundering Regulations, in undertaking “relevant business”, a “relevant person” is not permitted…
Service of process by NFT ‘airdrop’ – the future of ‘digital asset litigation’?
In this article we will consider the implications of the recently handed down judgment of the High Court of Justice in England and Wales in the case of D’Aloia and Person Unknown and Others.[1] Whilst cases decided in the United Kingdom do not have direct effect in the…
Regulation of crypto exchanges and other crypto services in the Cayman Islands
The Virtual Asset (Service Providers) Act, 2020 (VASP Act) as amended, provides a legislative framework for the conduct of virtual assets busi¬ness in the Cayman Islands, and the registration and licensing of persons providing virtual asset services. Since the introduction of the VASP Act, the Cayman Islands Monetary…
Game Changer! – Licensing Requirements for Virtual Assets in the Cayman Islands – Part 2
On 25 May 2020 the Cayman Islands government passed The Virtual Asset (Service Providers) Law, 2020 (“VASP Law”), which provides a legislative framework for the conduct of virtual assets business in the Cayman Islands and for the registration and licensing of persons providing virtual asset services. The VASP…
Game Changer! Introduction of the Regulation of Virtual Assets in the Cayman Islands – Part 1
The VASP Law defines a “virtual asset” as “a digital representation of value that can be digitally traded or transferred and can be used for payment or investment purposes but does not include a digital representation of fiat currencies”.
Virtual Asset Service Provider Law (VASP) Regime to Commence in Phases
On 25 May 2020 the Cayman Islands government passed The Virtual Asset (Service Providers) Law, 2020 (“VASP Law”), which provides a legislative framework for the conduct of virtual assets business in and from the Cayman Islands through requiring either (i) the registration or (ii) the licensing, of persons…
Digital Assets: Certain Cayman Islands law issues to consider
Based on our experience of advising initial coin offerings (ICOs) and security token offerings (STOs) and of undertaking legal due diligence for institutional clients seeking to acquire tokens in ICOs and STOs, in this brief update, we discuss a few of the issues that should be considered when…
Digital Assets. Five Questions to Ask Your Cayman Counsel
In our guidance note Top Ten Best Practices for an ICO Founders’ Team: A View from the Cayman Islands, ICO founder teams and promoters looking at the Cayman Islands for incorporation of their company or companies were warned that, while the Cayman Islands had flexible pragmatic rules encouraging…
