A cross firm team from Gowling WLG has authored the UK chapter of a new Virtual Currencies Comparative Guide launched by Mondaq, the leading online knowledge resource used by senior decision makers seeking insight from professional services firms.

Virtual currencies are a key component of the increasingly important cryptoasset sector.

The guide provides an overview of the key points of law and practice for governing virtual currencies in the UK under the following sections:

  1. Legal and enforcement framework
  2. Definitions
  3. Virtual currencies market
  4. Crossover with banking
  5. Technology
  6. Data security and cyber security
  7. Financial crime
  8. Consumer protection
  9. Competition
  10. Taxation
  11. Trends and predictions
  12. Tips and traps

Our contributions to the guide were led by Ian Mason and Sushil Kuner from our UK Financial Services Regulatory Team, supported by Helen Davenport (Data Privacy and Cyber Security), Jocelyn Paulley, Rocio de La Cruz (both Data Protection), David Brennan (Corporate), Samantha Holland (Commercial Litigation), Samuel Beighton (EU, Trade and Competition), Alasdair McKenzie (Banking and Finance) and Zoe Fatchen (Tax).

The Virtual Currencies Comparative Guide can be found on Mondaq's website.