Blockchain technology may be the biggest advancement since the Internet and it promises to revolutionize business through its ability to decentralize, record and transfer encrypted data and transactions. For many, the first exposure to blockchain is within the world of cryptocurrencies and digital tokens, which has become a global phenomenon disrupting the whole financial ecosystem.
Fasken is at the forefront of this revolution, offering cutting-edge legal advice on these new complex issues and the underlying benefits for our clients.
Fasken recognizes that digitization has redefined the way business operates and has made it a priority to stay connected and on top of emerging technologies. The Blockchain and Cryptocurrency Task Force is designed to help clients identify market opportunities, connect players to disrupt markets, incorporate cryptocurrency and digital token into their operations and safely navigate regulations within an evolving legal landscape.
We also partner with colleagues across law firms, technology companies and academia in prominent international networks, such as Global Legal Blockchain Consortium and R3’s Legal Center of Excellence, to help shape the future of blockchain in law.
From launch to maturity, the experts clients need to build their success story are at Fasken.
- Initial Coin Offerings are no secret, but the debate about whether tokens are securities or utilities continues. Mike Stephens, Christian Jacques, and Daniel Fuke, have been active in this space since its origins. We also advised many blockchain startups with ICO projects, such as a joint venture between BlockUnity and Paycase. We acted for Axiom Zen in their token generating event for their CryptoKitties blockchain program. CryptoKitties was (and still is) the first legal Canadian ICO – having received a formal determination from Canadian securities regulators that the CryptoKitties token was not a security. We also conceptualized the world’s first security token offering (STO) with Kabuni Technologies and spearheaded the steps necessary to sign a memorandum of understanding with the Canadian Securities Exchange (CSE) to organize the future issuance and listing of this token.
- 2017 was a breakout year for the cryptocurrency asset class with many traditional and alternative asset managers launching investment funds and offering asset management services relating to cryptocurrency assets. Jonathan Halwagi and Anabel Quessy have assisted many asset managers in navigating the rapidly shifting regulatory landscape in order to offer their cryptocurrency management services and products. Notably, we acted for Majestic Asset Management and Rivemont Investments with the establishment of the Rivemont Crypto Fund, one of the first cryptocurrency investment fund to be offered in Canada.
- Through various stages of growth through to exit, Craig Brown, Reid Crombie, ShahroozNabavi, Keith Spencer and Adam Saskin have led financings for numerous prominent cryptocurrency actors. We acted for Coinsquare, Canada’s largest and fastest growing cryptocurrency exchange on financings totaling $37.5M. We also assisted Coinsquare with the development of its international licensing program, for the licensing of its exchange platform to operators in jurisdictions around the world. We also advised a Quebec technology company in a Series A financing led by Simple Token. And recently acted for a funded start-up developing a blockchain-based market place for intellectual property.
- Many of our Canadian provinces offer some of the best location in the world to operate crypto-mining facilities. Christian Jacques counts amongst its blockchain clients the most important crypto-mining hardware manufacturer. Our real estate and energy groups, Christian Jacques, Craig Brown, and Reid Crombie have been involved with many mandates related to the setup of crypto-mining facilities.
With 10 offices on four continents, our lawyers are able to foster relationships with other lawyers, regulators, businesses and industry thought leaders across the globe. This broad network of industry relevant relationships ensures we are among the few to see emerging regulatory trends and evolving best practices.
We think the biggest technology change since the Internet is worth talking about. Our experts understand how this innovative technology will impact hundreds of industries and are working with companies on blockchain firsts in Canada and worldwide. We are also very sensitive to the nascent stage of regulation of the industry and are regularly interfacing with regulators in Canada and other crypto-leading nations to help ensure our clients can successfully navigate the evolving regulatory landscape. We’d be happy to arrange an interview.