Crypto assets and NFTs Regulation Litigation and Tax

Crypto assets and NFts Regulation Litigation and Tax

Given our expert knowledge and experience, we regularly advise clients in relation to matters which also touch on the regulation of crypto assets and the underlying blockchain technology.

We see the relevant legal aspects of the complex world of blockchain, crypto assets and non-fungible tokens broadly falling under three areas: regulation, litigation, and tax. Our expert teams advise in relation to all three areas, and where necessary, work together where these may overlap.

We fully understand that the global nature of crypto asset transactions requires an in-depth knowledge of the differing regulations across multiple jurisdictions, in order to predict where issues may arise and advise accordingly. Our experienced team have the expertise to do so.

Whether a client needs regulatory advice, asset-tracing expertise, or a confident litigator, we regularly pull our resources together to provide our clients with the best-tailored service to suit their bespoke needs.

Finally, we are at the forefront of providing tax advice in this complex area and have assisted many clients with taxation issues.

Crypto assets and NFts Regulation Litigation and Tax

As governments, regulatory bodies and enforcement agencies around the world grapple with trying to play catch-up to the world of blockchain and crypto, we are witnessing an evolving platform of regulation.

With an increasing number of individuals and corporate investors looking at cryptoassets and NFTs as a potential method of conducting business, there is a growing need for a firm practical understanding of the evolving nature of the underlying regulations which are starting to be applied to the various participants to crypto transactions.

These changes are happening at both a domestic and an international level, with organisations like the Financial Action Task Force providing recommendations which can be implemented on a much larger scale.

We understand the pressing need for a fluid and dynamic knowledge of the growing markets themselves, and are proud of our deep understanding of the regulatory landscape. To help our clients and the wider community we have an up-to-date series of blogs that chart the fast-moving changes as and when they occur.

The team recently assisted MusicArt ( the only planet-friendly NFT marketplace) on complying with relevant anti-money laundering (AML) law and regulations.

We are also in a position to rely on expert advice and understanding to provide bespoke AML regulatory advice to ensure compliance with all relevant regulations, assist with drafting associated policies and procedures and ensure proper systems are in place.

Blockchain and Crypto asset Litigation

As with any financial system, blockchain and the online world of crypto is subject to criminal activity.

We advise clients who have had the misfortune of finding themselves the victims of fraudulent schemes, such as through ransomware demands, or who have suffered a loss of cryptoassets through other wrongdoing.

In these circumstances, we provide advice on tracing property, wherever in the world it may be held, and have the power to bring the full force of civil recovery tools to ensure its recovery. In this regard, our white-collar crime team works closely with our civil litigation colleagues to provide a fully comprehensive service to maximise the chances of a successful outcome. Our stellar reputation means that we can also engage and work with specialist external tracing agencies where required.

Blockchain and cryptoasset taxation

Finally, we provide advice in relation to the taxation of crypto assets and associated HMRC guidance. Gherson Solicitors has been leading thought leadership and discussions in this area, last year submitting a Freedom of Information request to HMRC with regards to its international and domestic data gathering.

Although crypto assets are taxed in much the same way of other investments, there are certain key aspects to be aware of. Indeed, HMRC has produced specific guidance (LINK TO BLOG ON GUIDANCE). Our specialist tax team also advises where there are additional jurisdictional aspects to take into consideration.

If you would like to discuss any of the above with a qualified expert, please contact us or send us an e-mail.