Appleby Contributes To Inaugural Blockchain 2020 Guide For Chambers Global – Technology – Cayman Islands – Mondaq News Alerts

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Appleby has contributed to the Cayman Islands chapter of
Chambers and Partners’ inaugural “Blockchain 2020”
guide. This first edition features 19 jurisdictions and covers key
the topics of cryptocurrencies, stablecoins, initial coin
offerings, non-fungible tokens, tax regimes, data privacy and
protection, mining and staking, and decentralised financial
platforms.

According to Lewis Cohen in an introduction to this first-ever
guide, the “review of the Chambers Guide yields numerous
valuable insights. In terms of business models across the
jurisdictions surveyed, we see a vertiginous diversity.
Unsurprisingly, given the Cayman Islands’ longstanding
leadership in the funds space, tokenised funds harnessing the
benefits of blockchain technology have been one of the early

successes.”

Below is the full Cayman Islands chapter.

1. Blockchain Market and Business Model
Overview

 1.1
Evolution of the Blockchain Market

As one of the foremost offshore financial centres, home to
approximately 70% of the world’s offshore investment funds and
with an absence of any direct taxation on companies or individuals,
the Cayman Islands has become an attractive destination for
technology entrepreneurs. While much of Cayman’s financial
services legislation was written before the recent blockchain
revolution began, the last few years have seen the Cayman Islands
take a number of legal and regulatory steps to make the Islands a
jurisdiction that will allow such innovation
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