Crypto Assets in Trusts and Foundations – A guide for navigating crypto in wealth management structures

As cryptocurrencies and digital assets become increasingly prevalent, the legal frameworks surrounding their integration into traditional wealth management structures, such as trusts and foundations are evolving rapidly. Crypto Assets in Trusts and Foundations, edited by Ross Belhomme and Niklas J.R.M. Schmidt, Partner at Wolf Theiss, is a comprehensive guide that provides in-depth analysis and practical insights into the use of crypto assets within these structures. Published in association with STEP (the Society of Trust and Estate Practitioners), this book is an essential resource for those involved in wealth management, legal professionals and anyone interested in understanding how crypto assets can be effectively managed and safeguarded.

The book spans 295 pages and covers 20 key jurisdictions, offering a comparative view of the regulations and legal environments that govern the use of crypto assets in trusts and foundations. It addresses the critical challenges and opportunities presented by integrating these new asset classes into established wealth management frameworks.

Key Topics Covered:

• Legal status of crypto assets: The book explores how different jurisdictions classify crypto assets, discussing whether they are considered property, currency or a new form of digital asset. This legal categorisation has significant implications for how these assets can be held and transferred within trusts and foundations.
• Pertinent laws: Each chapter examines the relevant legal frameworks that apply to crypto assets within a particular jurisdiction, ensuring that trustees and legal professionals understand the applicable rules.
• Acquisition and custody: The book provides guidance on the legal aspects of acquiring and securely storing crypto assets within a trust or foundation. Given the unique nature of digital assets, issues such as private key management and custodial services are thoroughly examined.
• Anti-money laundering obligations: A critical concern for trustees and wealth managers is compliance with anti-money laundering (AML) regulations. The book addresses how AML obligations apply to crypto assets, detailing the steps needed to ensure compliance across various jurisdictions.
• Tax implications: The taxation of crypto assets remains a complex and evolving issue. This book offers a detailed overview of the tax implications of holding crypto assets in trusts and foundations, helping professionals navigate these challenges effectively.
• Documentary requirements: Proper documentation is essential for managing and transferring crypto assets within a legal structure. The book outlines the necessary documentary requirements for trustees and foundation board members to ensure legal compliance and the smooth operation of wealth management structures involving crypto assets.

In addition to these core topics, Crypto Assets in Trusts and Foundations features an introductory chapter on crypto assets as property, which clarifies key terminology and foundational concepts. This introductory chapter serves as a valuable resource for those new to the field, offering a clear understanding of the basic principles before delving into the more complex regulatory details.

Niklas Schmidt’s role as co-editor of this book reflects Wolf Theiss’ commitment to providing thought leadership in the rapidly evolving legal landscape of digital assets. With extensive experience advising clients on the legal aspects of crypto assets, Schmidt brings a wealth of knowledge to the publication, ensuring that the book addresses the most pressing legal challenges and offers practical solutions for trustees, wealth managers, and legal professionals.

Crypto Assets in Trusts and Foundations is an indispensable resource for anyone involved in managing or advising on digital assets within trusts and foundations. Whether you are a trustee, board member of a foundation, wealth manager, lawyer, tax professional or a high-net-worth individual, this book will equip you with the knowledge needed to navigate the complexities of crypto assets in the wealth management sector.

For more information or to purchase the book, click here.