Cryptocurrency, Digital Assets and the Metaverse
No matter the area of law in which you practice, the implications of cryptocurrency, digital assets and tokens are already-far reaching, given their increasing popularity and value. Now with the emergence of the Metaverse, it is vital you know how to handle such assets when they pop up. This programme outlines the current regulations in NZ together with practical approaches to deal with digital assets in family law, and IP issues and the potential for money laundering in the Metaverse. WEB232NZA08Z
Description
Attend and earn 4 CPD hours
Chair: Chris Linton. Consultant, Duncan Cotterill
9.00am to 10.00am Demystifying Cryptocurrency and Digital Assets: Relationship Property and Asset Planning
In our modern world, the acquisition and use of digital assets such as cryptocurrencies and non-fungible tokens (NFTs) is becoming increasingly common. Many would argue their adoption is growing exponentially.
This presentation will be practical in its focus, and aims to demystify the uncertainty around these assets generally and in a relationship property context, including:
- An overview of different crypto-assets, how and why they may be acquired, used and held, and why it is important that we understand this
- Classification in a relationship property situation
- Suggestions for identifying crypto-assets if disclosure is not forthcoming;
- Tips for ascertaining value
- How crypto can be protected during a relationship, how and when it can or should be divided on separation, and things to consider in terms of asset / estate planning.
- Practical tips and resources to provide practitioners with insight and assistance in this area
Presented by James Cochrane, Partner, Lane Neave
10.05am to 11.05am Crypto Asset Regulation in NZ
- Current legislation and guidelines
- Caselaw in New Zealand and overseas
- What happens next?
Presented by Jeremy Muir, Partner, MinterEllisonRuddWatts
11.05am to 11.15am Break
11.15am to 12.15pm The Metaverse, Cryptocurrency and AML/CFT Implications
- Does the AML/CFT Act apply to the Metaverse and Cryptoassets?
- Jurisdictional conundrums
- Due diligence challenges: verification and standards issues
- Technologies favouring anonymity
- Record-keeping
- FATF and other international developments
- Best practice for New Zealand lawyers
Presented by Neil Russ, Director, Russ + Associates
12.20pm to 1.20pm IP in the Metaverse
- What are businesses doing to protect themselves?
- How do you protect and classify trade marks in the Metaverse?
- Is the Metaverse a member of the Berne Convention for the Protection of Literary and Artistic Works?
- How fit for purpose are those old license or settlement agreement you’ve been relying on?
Presented by Jonathan Aumonier-Ward, Principal, AJ Park
Learning Objectives:
- Understand cryptocurrency and digital assets in the context of relationship property and asset planning
- Ensure you are across current cryptocurrency regulations in NZ
- Learn about the AML/CFT implications in the Metaverse
- Understand how IP can be protected in the Metaverse
Presenters
Chris Linton
Chris is a senior corporate/commercial and technology specialist. She advises New Zealand and international corporates, and public sector clients, on their terrestrial and online businesses. This includes technology projects (from strategy, procurement and implementation through to dispute resolution), blockchain, crypto and fintech businesses (advising start-ups and investors); M&A, joint ventures, strategic alliances, venture capital, and gaming (and related regulatory advice). Before joining Duncan Cotterill, Chris was a partner at national law firm in Wellington and a specialist commercial law firm in Auckland. She also worked in London with leading global firm, Linklaters doing cross border M&A, joint ventures and financing. Chris is the Honorary Consul for Finland in Auckland, President of the New Zealand Scandinavia Business Association, and a member of Fintech NZ.
James Cochrane
James is a dispute resolution and litigation partner at Lane Neave (Auckland). He has significant banking and finance, insolvency, company law and insurance experience. James is passionate about cryptocurrency / crypto-assets and web3 technology. In addition to working on some of New Zealand’s most notable insolvencies, James has advised a number of parties interested in digital assets including insolvency practitioners; private wealth clients in relation to tax, asset acquisition, structuring, protection and property transfer; and businesses in relation to gaming, crypto-mining, capital raising, structuring / DAOs, and the regulatory landscape. In addition to litigation, James provides commercial advice for a range of clients from individuals and startups through to large multinational corporates. He has a particular interest in fintech and social media related disputes as well as sustainability and corporate social responsibility. James has a Master of Laws (LLM) which he completed with First Class Honours from the University of Auckland. is a member of BlockchainNZ, Restructuring & Turnaround Association of New Zealand (RITANZ) (formerly INSOL) and New Zealand Insurance Law Association (NZILA).
Jeremy Muir
Jeremy heads the national Banking & Financial Services division at MinterEllisonRuddWatts. He specialises in funds, financial regulation, fintech and crypocurrency/blockchain innovation. In the cryptocurrency space, he acts for many of the key New Zealand industry participants and has recently been appointed as a special advisor to Parliament’s Finance & Expenditure Committee for their ongoing review of the area.
Neil Russ
Neil founded Russ + Associates in 2019 as a group of senior lawyers specialising in tax and AML/CFT advice. Neil has over 35 years’ experience in England and New Zealand, including 25 years as a tax partner in a national law firm. Russ + Associates regularly works with its corporate clients, other law firms and accounting practices to meet their income tax, GST and AML/CFT needs, including tax investigations, binding and non-binding ruling applications, tax risk reviews, AML/CFT ministerial exemptions, suspicious activity reports and audits. Neil specialises in corporate and international income tax and GST issues, as well as transactional advice. In addition to his tax expertise Neil has a multi-jurisdictional background in banking, capital markets and derivatives transactions. Neil is Convenor of the NZ Law Society Tax Law Committee, a member of the AML/CFT Industry Advisory Group and co-author of AML/CFT in New Zealand – A Handbook for Lawyers and Accountants, He is a member of the International Fiscal Association and the Inter-Pacific Bar Association. He frequently deals with Inland Revenue and Treasury officials on matters of tax policy and interpretation, and with DIA and Ministry of Justice officials on AML/CFT issues.
Jonathan Aumonier-Ward
Jonathan is a trade mark and copyright specialist who uses his well-honed problem-solving skills and commercial approach to help his clients achieve their business goals. With over 20 years of experience, he has worked with multinationals operating in a broad range of industries, from hospitality, food and beverage, and sustainable businesses, through to technology, software and communication. He also works with non-profit and charity organisations in New Zealand and overseas. He is a highly acclaimed practitioner and was acknowledged by the World Trademark Review as one of New Zealand’s leading IP enforcement and litigation practitioners with 'a nose for commercial solutions to diverse trademark and copyright issues’.