- Support of token sale projects
- Support of crypto-exchanges
- Support of fintech projects
- Preparation of whitepaper & policies
- Legal support of smart contracts
Digital technologies stimulate the development of adjoining modern markets, in particular, the cryptocurrency market and fintech projects. Today, a significant number of automated digital platforms are built using Blockchain technology, and the implementation of agreements using smart contracts is no longer unusual in the modern world, especially when it comes to crypto-assets and ensuring the implementation of transactions with their use.
At the same time, modern technologies and methods of their implementation require modern solutions, in particular in the legal field – after all, it is the comprehensive and professional legal support that will be able to ensure the launch of the relevant project in the legal field, as well as protect you from surprises in the future. The main peculiarity in this area of activity is that a significant part of modern Blockchain and crypto projects is either unregulated in the usual legal field in general, or is partially regulated. And this applies to many countries of the world, not just one specific country.
So, for a balanced legal position on the project functioning in the field of crypto-assets or fintech, lawyers need a fair amount of dexterity, deep knowledge in various branches of law and the ability to find (and sometimes invent) non-standard solutions, taking into account all the requirements of applicable law.
The presence of special regulatory bodies in various countries of the world, each of which has its own vision and interpretation of a specific project or a specific area related to crypto-assets is another feature of project support in this area. For example, the position of the SEC (Securities and Exchange Commission) or CFTC (Commodity Futures and Trading Commission) in the United States regarding the cryptocurrency “unicorn” Bitcoin, according to which this digital currency is recognized both as money and a tangible asset, must be taken into account when planning a cryptocurrency or Blockchain project. Otherwise you can violate the requirements of the US federal law, which can lead to negative consequences both for the company developing the project and for its founders or beneficiaries.
Since we have dealt with many complex issues in the field of crypto and fintech projects in practice, our experience allows us to ensure their proper and most secure support from the legal point of view. Of course, to resolve relevant issues in other jurisdictions we always have the opportunity to contact our foreign partners.
Our legal services for Blockchain, crypto, IoT and fintech projects are usually not limited to the performance of one certain task for the client, since this type of services presupposes several stages of their implementation, as well as the complexity of the services provided. That is why we always offer our clients to involve us in the project at the earliest stage – then we can not only become a part of the client’s project team from the very beginning, but also evaluate the entire scope of tasks and provide high-quality legal support of the project at all stages.
At the initial stage of the project we provide general advice on a choice of jurisdiction for the project, develop a general legal model for its future implementation and provide legal support for the entire business model. Also depending on the specifics and timing of the project we begin to prepare drafts of documents related to the project – as a rule, these are non-disclosure agreements, partnership agreements between founders, agreements on attracting third-party contractors and service organizations, corporate documentation of the company. The participation of an IT lawyer in the preparation of whitepaper and policies is also important at this stage.
In addition, in these projects we pay special attention to the analysis of the regulatory environment in different countries of the world, especially if the project is multinational. In this case the most important thing for us is to make sure that the project implementation does not violate the requirements of the legislation of each jurisdiction in which the project will be launched.
Of course, another aspect that we pay attention to is the need to obtain licenses for the turnover of cryptocurrency assets in a particular jurisdiction, because in some countries compliance with this condition is mandatory. This is especially important when it comes to such activities as the issuance of tokens (token sale), the activities of cryptocurrency exchanges and platforms. In this context it is also important to study and analyze the practice of the regulatory authorities of each country – the relevant securities commission, the central bank, the bodies regulating financial institutions.
For fintech projects we also provide our clients with advice on the legislation in the field of payment systems and transfer of funds, since the habitual areas of the usual regulated turnover of funds and modern fintech models are similar, but not always the same, which requires not only detailed analysis and consulting in this area, but also a creative approach for the possible avoidance of the unnecessary need to obtain certain permit or license.