Where do we advise?

The flagship of our legal advice is financial regulation, of which cryptoassets legislation is an integral part in the EU. Even before the MiCA Regulation or the DLT Regulation came into force, we applied our knowledge and experience from collective investment, securities or payment services regulation when setting up crypto projects. We advise clients in this area in assessing and setting up their various business structures.

We have been involved in crypto asset issues (ICI, UTO, STO) for a long time. For cryptoasset issues regulated by MiCA Regulation, we provide clients with comprehensive legal advice on public offerings and applications for admission to trading of cryptoassets, including drafting whitepapers and assisting in the preparation of (regulated) marketing communications. For public offerings and applications for admission to trading of asset-linked tokens (ARTs or “asset reference tokens” in English ), our services also include representation of clients in authorisation proceedings before the National Bank of Slovakia, including preparation of the application and complex documentation.

At the same time, when issuing an ART, we will provide a legal opinion to clients that their crypto asset is not an electronic money token (EMT or ” electronic money tokens”) or other crypto asset excluded from the scope of the MiCA Regulation.

Finally, we also advise issuers and other entities that offer cryptoassets to the public or seek admission to trading on cryptoassets on their obligations under cryptoasset regulation.

Our legal services also include advising on the issuance of crypto-assets that are classified as financial instruments, including assessing the regulatory regime for these crypto-assets and whether they can benefit from the pilot regime under the DLT Regulation. In such a case, we provide full assistance in meeting the conditions required by financial law legislation (e.g. the Prospectus Regulation or the legal regulation of the provision of investment services and investment activities).

At the same time, we provide legal services in tokenisations of traditional assets (e.g. real estate), for example through NFT. In the context of collective investment, we advise on the tokenisation of investment funds or on the assessment of whether investment funds may invest in cryptoassets or accept cryptoassets as deposits from their investors.

What is our experience in the cryptoassets business?

We have been comprehensively dealing with the regulation of cryptoassets for a long time, whether in the framework of taxation, by presenting at the NBS conference on MiCA regulation or also by organising a conference on the regulation and taxation of cryptoassets. Our experience in cryptoassets includes advising clients on:

• Creating a platform for cryptocurrency trading, including the legal structuring of staking strategies,
• Primary issuance of hybrid tokens as well as their placement on a decentralised exchange as part of a secondary sale,
• Primary Token Issuance (ICO) and Security Token Issuance (STO),
• Establishing and managing alternative investment funds located in offshore jurisdictions and investing in cryptoassets,
• Structuring the business model in connection with the creation of cryptocurrency portfolio management services,
• Assessing the compliance of the cryptocurrency business model with the regulation of payment services and electronic money,
• Creating investment products investing in cryptoassets for client customers,
• Tokenisation of real estate through the issuance of NFTs,
• Creating a study for a client aimed at creating a legal and tax framework for the operation of its internal token system.

At the same time, as we have been involved in financial regulation for a long time and thus represent clients in authorisation, registration and sanction proceedings before the National Bank of Slovakia or in the issuance of traditional securities, our know-how is an elementary prerequisite for providing qualified legal advice on various investment models with cryptoassets or on the issuance of cryptoassets. A demonstration of our extensive experience in the field of financial regulation are the successful conferences (one of the largest of its kind in Slovakia) that we have organized, whether regarding the financing of real estate or the establishment and operation of investment funds.