Challenges in Crypto Regulation Workshop

Las Vegas, USA | 25 Oct 2023

Challenges in Crypto Regulation img

Dr Jean-Philippe Chetcuti addresses Andersen Crypto Regulation Meeting

One of the highlights of the annual Andersen Global Partners Meeting held in Las Vegas in October was the Andersen Crypto Regulation panel that focused on the pertinent subject of Challenges in Crypto Regulation. Managing Partner, Dr. Jean Philippe Chetcuti, served as one of the five esteemed panellists who shared experiences and developments with legal and crypto-regulation peers hailing from over 170 countries. 

Crypto Views from the US

Hai Tang, Managing Director and member of Andersen Alternative Investment Fund Services Group at Andersen Tax in the US, delivered insights on the current state and future of Initial Coin Offerings (ICOs), the cryptocurrency industry's counterpart to Initial Public Offerings (IPOs) as a fundraising mechanism for companies seeking capital to develop new coins, applications, or services.

Cryptocurrencies Regulatory in the EU and Malta

Dr Jean-Philippe Chetcuti updated the audience on cryptocurrency regulatory developments in Europe, namely the EU MiCA Regulation, with a specific emphasis on regulatory opportunities in Malta.  Dr. Chetcuti delved into the intricacies of MiCA, the European Union's regulatory framework for cryptocurrencies, and the associated challenges faced by the EU. Furthermore, he elaborated on Malta's Crypto Framework, known as the Virtual Financial Assets (VFA) Regime, which, drawing inspiration from the MiFID model, was introduced in November 2018. This framework has since established itself as a pioneering regulatory model for cryptocurrencies on a global scale. Notably, he underscored Malta's readiness to transition from the VFA framework to MiCA, reflecting Malta's proactive engagement within the dynamic landscape of cryptocurrency regulation.

A Spanish perspective to Crypto Regulation

Guillermo Yuste, Banking and Finance Partner at Andersen in Spain offered the investment banking perspective of crypto-currency regulations and the challenges presented by industry developments.

El Salvador's approach to Crypto Regulation

Piero Rusconi, Partner at Central American law firm Central Law, El Salvador highlighted El Salvador crypto friendly approach and high adoption levels of crypto-currencies. Mr Rusconi provided an overview of El Salvador encompassing crypto regulation, and El Salvador's approach to taxation of crypto-currencies.

Mexico and Regulatory Challenges of Crypto

Meanwhile, Rodrigo Covarrubias, Partner at SKATT International Tax Firm, Mexico, elucidated the range of services that law firms can offer and emphasized the importance of global-knowledge sharing.

About Andersen Global

Andersen Global, an international association founded in 2013 by its U.S. member firm, Andersen Tax LLC, brings together legally distinct, independent member firms. These firms consist of tax and legal professionals who operate on a global scale. The organization has grown substantially over the years, reaching over 400 locations situated in over 170 countries around the world, complemented by an impressive cohort of over 2,000 global partners, facilitated through its member firms and collaborating entities. This network has solidified Andersen Global's reputation as a preeminent, internationally-connected association in the realm of tax and legal services.

Private Client Services for Crypto Entrepreneurs

From a private client perspective, Jean-Philippe advises some of the world's foremost disruptors on International Tax, Wealth and Business Structuring, Global Citizenship and Residency by Investment Programs. His extensive consultancy practice serves a diverse global clientele, focusing particularly on ultra-high-net-worth individuals, their family offices, legal professionals, private banking institutions, and financial advisors.

Chetcuti Cauchi's Fintech and Crypto Currency Regulatory Practice

Malta has solidified its position as a leading fintech hub for a period exceeding a decade. It has achieved this status through the hosting and attraction of a diverse range of financial services enterprises and frameworks. These encompass Alternative Investment Funds (AIFs), Professional Investor Funds (PIFs), UCITS schemes, electronic money institutions, and payment service providers. Furthermore, Malta has evolved to become the world's largest hub for iGaming. Find out how we can help you here.

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