Ahmed is joined by two Partners from Simmons & Simmons law firm; George Morris a Partner in the London office and Raza Rizvi a Partner in the Dubai office.
Ahmed starts off by asking about Simmons and Simmons’ journey in the blockchain and crypto space. George explains how they started their journey by working with projects to help them navigate through the grey area that still very much exists till today.
He then discusses the risk-based approach when operating in a grey area and explains why having a lack of clear definitions makes the process more difficult.
The talk moves onto the different regulatory jurisdictions and how they are different from one another when wanting to conduct an ICO or any other crypto related activity. George also does a deep dive into the difference between ICOs and STOs and lays out the process for how STOs from an equity standpoint should be conducted. Yes, lots of free advice from a lawyer!
The conversation then moves onto regulatory arbitrage or World War Regulation as the three discuss what regulatory arbitrage is, why it exists and whether or not it actually aids and adds value to the industry. Raza also talks about the regulatory arbitrage happening in MENA and how that actually aids regulators to make collaborations.
Self-regulation is another topic that was discussed during this episode as George argues the case for self-regulation and cites current examples and themes. Finally, Ahmed tries to understand how Simmons & Simmons are planning to utilise smart contracts for the future.
All of the above and more will be on this week’s episode of Encrypted!
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Special Guests: George Morris and Raza Rizvi.