Blockchain and Crypto Currencies

Blockchain technology is considered by many to be not only “a game changer” but one of the most interesting technological developments and disruptions in society today, with some saying that this technology will eventually disrupt and transform business and the way we do business as much as the Internet itself. While blockchain technology can be […]

Blockchain technology is considered by many to be not only “a game changer” but one of the most interesting technological developments and disruptions in society today, with some saying that this technology will eventually disrupt and transform business and the way we do business as much as the Internet itself.

While blockchain technology can be utilized for many different purposes the best known use of the technology is cryptocurrencies, that are bound to play a significant part of our payment systems in the future, as the financial services industry is generally predicted to be the first industry to be transformed and challenged by blockchain technology.

Porat Group helps the most exciting blockchain companies in the world launch and expand their cutting-edge products and services in an increasingly complex and demanding legal and regulatory environment.

Naturally, these new developments have created a range of unique and often complicated legal dilemmas and issues. Not only regulators but also tax authorities all over the world are frantically trying to familiarize themselves with these new technologies, so that legal gaps can be filled, but in most cases, a majority of issues and matters related to blockchain and/or cryptocurrencies must still be considered somewhat of a grey area in most countries and jurisdictions. (Although cryptocurrency specific legislation does exist in some parts of the world already)

How Porat Group can be of assistance for those within the blockchain/cryptocurrencies industry

Porat Group’s blockchain and cryptocurrency legal division consists of highly skilled commercial lawyers who do not only have plenty of experience with the blockchain and cryptocurrencies sphere, but who also have a genuine interest and passion for these new technologies and are truly excited about the future of the industry.

Our legal team also has an international network of expert advisers at their disposal in order to handle cross-border matters, whether they be related to law, technology, PR and marketing or general strategy and market insight, in an unparalleled and professional way. As regulatory developments constantly evolve, we provide our clients with up-to-date legal advice, built on a strong understanding of the industry and its characteristics, unmatched by few other law firms in Israel or even globally.

Popular legal services that Porat Group provides for companies within the blockchain/cryptocurrencies industry

While each company within the blockchain or cryptocurrency sphere, like in any other industry, has unique needs, a sample of services that many of our clients within the industry request include:

  • Advising clients wishing to engage in trading, exchange, and investments in crypto-currencies, including setting up licensed crypto-currency exchanges in a number of different jurisdictions;
  • Consultation and guidance related to choosing the most suitable jurisdiction for the company’s needs;
  • Helping clients monitor the changing regulatory landscape for cryptocurrencies and blockchain;
  • Assistance in implementation of crypto-currency solutions within existing businesses;
  • KYC (Know Your Customer), AML (Anti Money Laundering), data protection and other compliance services;
  • Guiding clients through the basics of business formation, financing, content regulation and website management;
  • Helping clients procure, protect and deploy their intellectual property;
  • Advising as to applicable restrictions on marketing and solicitation;
  • Providing legal solutions involving encryption, multi-jurisdictional product offerings and domain name registration;
  • Setting up connections and agreements with banking and payments solutions;
  • Advising and assisting with expansion to new markets;
  • Advising as to applicable taxation implications;
  • Assistance with various legal disputes;
  • Drafting and reviewing of all types of commercial agreements.

Types of blockchain and cryptocurrency companies that Porat Group works with

Porat Group’s cryptocurrency and blockchain clients range from fresh, nearly just founded start ups to established “giants” and leading companies in the industry. We represent and/or have represented the following types of companies in the past:

  • Cryptocurrency exchanges;
  • Cryptocurrency administrators;
  • Cryptocurrency miners;
  • Developers;
  • Financial institutions;
  • Technology providers and technology companies;
  • Marketing companies and affiliate companies within the niche;
  • Smart contract providers;
  • Venture funds, hedge funds and private equity funds;
  • Asset managers and asset management companies;

Examples of jurisdictions that we have cryptocurrency/blockchain related experience with

Some, although not all, of the jurisdictions and regulators that we deal the most with when representing our blockchain/cryptocurrency clients are:

  • The Monetary Authority of Singapore
  • The FCA – The UK Financial Conduct Authority
  • The FINMA – Swiss Financial Market Supervisory Authority
  • The Israel Securities Authority
  • The FIU – Estonian Financial Intelligence Unit
  • The AUSTRAC – Australian Transaction Reports and Analysis Centre
  • The SEC – U.S Securities and Exchange Commission
  • The CFTC – The US Commodity Futures Trading Commission
  • The IRS – The US Internal Revenue Service
  • The FMA – Liechtenstein Financial Market Authority
  • The Gibraltar Financial Services Commission
  • The MFSA – Malta Financial Services Authority

As the regulatory landscape for blockchain and cryptocurrencies and the needs of our clients gradually change, we believe this list will soon be longer.

Ready to get stuff done?

Contact Porat Group in order to set up a consultation, no matter where you are in the world, where we find out more about what you specifically need and aim for. Our lawyers specialized in blockchain/cryptocurrencies can then suggest options, services and packages for you, depending on your individual needs.

The initial consultation is always free and non-binding and our pricing is transparent, with a detailed plan provided for each client before any work is done.

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Our attendance at the Crypto: Tel Aviv Convention
16.06.2021
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