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Finance Profiles

House of Blockchain

Thomas Naegele

Interview with Thomas Nägele, Managing Partner of NÄGELE Attorneys at Law, LLC

CEO Insight: Nowadays, tokenised securities are the hottest crypto topic, coinciding with the recent publication of the thinkBLOCKtank paper “The Regulation of Tokens in Europe”. NAEGELE Attorneys at Law, LLC, contributed the Liechtenstein chapter which discusses the current state of the token economy within the country. Can you tell me a little more about this?

Thomas Nägele: It is an honour to be part of the thinkBLOCKtank, an organization dedicated bringing individuals from across Europe together with the goal of providing policy recommendations at an EU and worldwide level in order to promote a regulated and prosperous token economy. The paper presents a joint effort of the think tank’s members to provide a comprehensive overview of the regulatory environment surrounding tokenization in their respective jurisdictions.

Our firm contributed the Liechtenstein section, which provides more information on the Liechtenstein Blockchain Act, which pre-existing regulations are applicable to blockchain and crypto projects, and information regarding what is necessary to conduct security token offering within the country. Other information in the publication includes what is involved with the creation of crypto exchanges, creation of crypto exchanges, and information regarding what constitutes e-money.

CEO Insight: Liechtenstein has been incredibly agile and efficient in embracing and fostering entrepreneurship, innovation and new technologies, the most recent example being the support for blockchain and crypto-related businesses. Overall, what are the main benefits derived from embracing rather trying to stifle and control innovative ideas and new technologies? And what role did the House of Blockchain have in achieving this?

TN:The benefits of embracing these new technologies are manifold. The local mentality is not only focused on a favourable regulatory environment, but is also focused on educating the public in a manner that will hopefully lead to widespread adoption of these new systems – both at home and abroad. This brings the local community together, and that is one of the main roles the House of Blockchain serves to fill.

CEO Insight: The House of Blockchain aimed to support projects that share a vision for a future built on powerful, user-friendly decentralized applications, bringing the benefits of blockchain technology to the masses. How has it achieved this since its inception in May 2018?

TN: The House of Blockchain provides a hub, not only for offices, but the exchange of ideas and hosting of community events. Since its founding, there have been several milestones including a one-year anniversary celebration, the launch of æternity’s main net, and welcoming new tenants that are proven leaders in the blockchain realm – such as Bittrex and Bitcoin Suisse.

CEO Insight: As financial technology continues to develop rapidly worldwide, what are the latest legislative and regulatory developments affecting this burgeoning industry? And what are the current challenges facing the sector?

TN: From a bird’s eye view, the latest legislative and regulatory developments vary on a jurisdictional basis. This is promising, but also challenging seeing that there is no uniform Europe-wide regulatory treatment of tokens. That was one of Liechtenstein’s goals as a jurisdiction, to implement a regulatory framework that proves comprehensive and functional in hopes that other jurisdictions, whether in Europe or at large, would be inspired to adopt similar legislation.

CEO Insight: The number of blockchain-related firms in Liechtenstein continue to rise throughout the bear market. What advantages can businesses in the area of bitcoin/blockchain technology profit from as investors in Liechtenstein? Why is this location better for founding new businesses?

TN: Liechtenstein presents an incredibly advantageous jurisdiction due to its membership in the European Economic Area (EEA), which affords entrepreneurs launching businesses out of Liechtenstein access to the European single market. Furthermore, the Liechtenstein Persons and Companies Act, enacted almost 100 years ago, was designed to integrate the best corporate law from around the world, and the legislation worked, solidifying Liechtenstein’s place as financial centre.

CEO Insight: Liechtenstein is on a mission to lead fintech innovation offering some of the world’s most advanced legislation on cryptocurrencies and blockchain services. What does the future hold for the small country and NAEGELE Attorneys at Law, LLC? And what is next for blockchain, banking and finance?

TN: We view the future as bright, and we are excited to see what it brings. Liechtenstein might be small, but just like our law firm, the blockchain community here continues to grow. As for what is next for blockchain, banking and finance, we are continuing to see more and more exciting developments aimed at merging those worlds in a manner that brings blockchain mainstream.

For more information: www.naegele.law

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