Blockchain and Crypto-Assets 2026

UK

The United Kingdom London

Ireland

Law and Practice Contributed by: James Burnie, Kathryn Dodds, Nicky Androsov and Olga Antonova gunnercooke llp

Germany

Belgium

France

Contents 1. Overview of Blockchain and Crypto-Assets p.701 1.1 Blockchain p.701 1.2 Crypto-Assets p.702 2. Regulation p.703 2.1 Regulators and International Alignment p.703 2.2 Crypto-Asset Regulatory Frameworks p.703 2.3 Regulated Firms and Legal Wrappers p.704 2.4 Token Issuance p.704 2.5 Market Abuse p.704 2.6 Non-Compliance p.705 3. Licensing and Set-Up Requirements p.705

3.1 Licensing Requirements p.705 3.2 Set-Up Requirements p.705 3.3 Change of Control p.706 3.4 Passporting p.706 4. Cross-Border Services p.706 4.1 Marketing p.706 4.2 White Labelling p.707 5. Decentralised Finance p.707 5.1 Ability to Use DeFi p.707 5.2 DeFi Structures p.707 5.3 Liability p.707 6. Payments and Stablecoins p.708

6.1 Payments p.708 6.2 Stablecoins p.708 7. Tokenisation and Real-World Assets p.708 7.1 Treatment p.708

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