As demand grows for trusts to hold digital assets, professional trustees must navigate fiduciary, legal, and operational challenges.
This article published in Trust & Trustees analyses how trustees can meet their duties when administering digital assets such as cryptocurrencies. Emphasis is placed on issues of asset custody, anti-money laundering compliance, risk mitigation, and due diligence.
Parallels are drawn with traditional alternative assets, illustrating that digital assets are conceptually familiar if technically distinct.
The article concludes that trustees can adopt a phased, policy-led approach to dealing with digital assets, based on their own level of comfort, leveraging expert support to discharge their obligations responsibly.
Read the full article here.
Collas Crill has a dedicated crypto and digital assets team which advises in relation to a broad range of legal issues involving crypto and digital assets see here.
