Blockchain and Crypto-Assets 2026

USA

Canada

United States of America

Washington DC

Law and Practice Contributed by: Gregory Strong, Sarah W. Chen, Brian Farber and Amil Sumaiya Malik Cahill Gordon & Reindel LLP

Mexico

Contents 1. Overview of Blockchain and Crypto-Assets p.717 1.1 Blockchain p.717 1.2 Crypto-Assets p.719 2. Regulation p.721 2.1 Regulators and International Alignment p.721 2.2 Crypto-Asset Regulatory Frameworks p.725 2.3 Regulated Firms and Legal Wrappers p.725 2.4 Token Issuance p.726 2.5 Market Abuse p.727 2.6 Non-Compliance p.728 3. Licensing and Set-Up Requirements p.728

3.1 Licensing Requirements p.728 3.2 Set-Up Requirements p.728 3.3 Change of Control p.728 3.4 Passporting p.728 4. Cross-Border Services p.729 4.1 Marketing p.729 4.2 White Labelling p.729 5. Decentralised Finance p.729 5.1 Ability to Use DeFi p.729 5.2 DeFi Structures p.729 5.3 Liability p.730 6. Payments and Stablecoins p.730

6.1 Payments p.730 6.2 Stablecoins p.730 7. Tokenisation and Real-World Assets p.731 7.1 Treatment p.731

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