FCA moves towards towards crypto regulation UK’s financial watchdog is consulting on guidance as it begins the process of defining which cryptoassets it will be responsible for regulating in a market that poses “substantial risks to consumers”. Following pressure from Parliament, the Financial Conduct Authority (FCA) launched a comprehensive consultation on how regulation should be applied...Read More

Offshore jurisdictions protest as Netherlands puts them on blacklist The Bahamas call it “premature”, the Cayman “unjustified”, in the eyes of the Bermuda government it is “unfortunate” and the Isle of Man was caught by “surprise”. Offshore jurisdictions from all over are protesting as the Dutch puts them on blacklist. The chief minister Howard Quayle sees...Read More

Crypto assets face EU-wide regulation The European Securities and Markets Authority (ESMA) has called for the establishment of an EU-wide approach to the regulation of crypto assets and initial coin offerings (ICOs), without which it believes investors are “exposed to substantial risks”. In addition, the pan-European regulator has called for crypto assets and related activity...Read More

BVI’s new economic substance rules prompt questions by financial industry The new economic substance law in the British Virgin Islands came into effect on January 1st, but the financial industry is still uncertain about its requirements and has several questions about the impact the new rules will have. As mandated by the EU, the law...Read More

Luxembourg gains 80 financial services firms in run up to Brexit Luxembourg has been ranked among the top three EU financial centres in 2018, having consolidated its role as a hub for financial institutions operating on a cross-border basis in the European market, as the country reaped rewards from an exodus of companies setting up...Read More