Solutions

HVG Law offers various legal services related to blockchain technology. Some examples are:

Advice on the legal aspects of setting up a blockchain project, such as determining the legal structure of the organization, drafting smart contracts, and complying with laws and regulations. Assistance in obtaining permits and complying with regulations for the use of blockchain, such as AML/KYC regulations. Support in drafting and evaluating contracts and agreements, such as the sale of tokens or setting up partnerships. Guidance in disputes and conflicts that may arise in the context of blockchain projects, such as disputes over the execution of smart contracts or obtaining compensation. Advice on the tax consequences of blockchain transactions and projects. Support in drafting whitepapers and other documents required for an Initial Coin Offering (ICO). Assistance in drafting privacy and data protection policies for blockchain applications.

It is important to keep in mind that blockchain technology is still a new and rapidly evolving field, and that the legal rules and regulations may vary by country. HVG Law can help you with this.

The legislation in the area of blockchain and crypto assets is not yet well developed at a national level. The Dutch legislature often lags behind the fast technological innovations. This also means that there is not much regulation yet. The national legislator and regulators are currently doing a lot of research into how to further regulate this sector in order to better protect consumers. They are not doing this alone and often rely on the guidelines and rules from Europe. The European legislator is currently working on many legislative initiatives aimed at better regulating the crypto assets sector. Think, for example, of the Markets in Crypto Assets (MiCA) Regulation and the Transfer of Funds Regulation (TFR).

We have already successfully helped many parties with registering their crypto company with DNB. We also have extensive experience in providing regulatory advice on financial blockchain solutions. Think of using blockchain for certain employee reward schemes; advising on the issuance of crypto-tokens and setting up a Decentralized Autonomous Organization (DAO).

As one of the few law firms with extensive experience in this space, we are able to help you with your regulatory questions. We keep track of all relevant regulatory developments and can therefore also prepare you for the legislation under which you will fall within the next few years. Think, for example, of the qualification of the tokens issued, the types of crypto-service services that are regulated and the solvency requirements that an issuer must meet.

In the blockchain world, we recognize that projects are being developed around the decentralization of various services. People are inclined to work together in a decentralized manner using decentralized autonomous organizations (DAOs). Since DAOs are a relatively new concept in our current economy, the legal framework is not yet fully established and is still rapidly developing. At HVG Law, we closely follow the business and notarial developments and the consequences thereof in the Blockchain space.

If DAOs are not truly decentralized and have no legal wrapping, various legal risks can arise. An example of this is a too high liability risk for DAO members. At HVG Law, we advise on the use of Dutch legal forms as a legal wrapper to limit such risks and enable DAOs to participate in legal transactions.

When forming a legal wrapper, various aspects must be taken into account. The purpose of the DAO, profit sharing, exclusion of liability of members, transfer formalities of shares/interests and other aspects are relevant in choosing the legal form as a legal wrapper. These factors influence the choice for one of the Dutch law forms.