Digital assets content hub
Cayman Islands: Further consultation on regulation of virtual assets industry
The Cayman government has begun consultation on amending the Virtual Asset Service Providers Act 2020 in preparation for bringing the licensing regime into full force.
STEP responds to government consultation on will storage in England and Wales
STEP has responded to the Ministry of Justice’s (MoJ’s) consultation on the permanent storage and retention of original will documents. Under this reform, the MoJ would convert will documents submitted in support of probate to a digital format. STEP seeks clarification and also urges the MoJ to conduct a thorough cost-benefit analysis on digitising will documents, as previous digitisation initiatives have drawn criticism for their costly implementation.
US: First prosecution for digital asset tax evasion
US federal prosecutors have brought their first criminal case against a taxpayer accused of digital asset-related tax evasion and the filing of false tax returns without any connection to other criminal offences. The taxpayer is accused of under-reporting capital gains of USD4 million of digital assets and structuring earnings deposits by splitting large portions of his Bitcoin earnings into smaller deposits.
Source: Baker Hostetler
Webinar replay: Digital assets and cross-border estates - An international problem
This webinar jointly hosted by STEP’s Cross-Border Estates and Digital Assets Special Interest Group’s (SIG’s), explored the issues surrounding the administration of a cross-border estate with digital assets.
Digital Assets: A Call to Action
STEP and the Microsoft-funded Cloud Legal Project at Queen Mary University of London have collaborated on a joint research project into estate practitioner views on, and experiences with, digital assets.
Digital assets: Explained
We have produced a series of short video clips that help both practitioners and clients understand some of the key terminology for estate planning and estate administration of digital assets.
Join the SIG
Our Digital Assets Special Interest Group provides an international forum of debate, education and support related to planning for and administering digital assets, also driving the need for, and harmonisation of, legislation in relevant areas.
Connect with us