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9 - Trusts of Cryptoassets

from Part II - The Changing Legal Context

Published online by Cambridge University Press:  08 December 2022

By
Kelvin F. K. Low
Edited by
Richard Nolan ,
Hang Wu Tang  and
Man Yip
Richard Nolan
Affiliation:
University of York
Hang Wu Tang
Affiliation:
Singapore Management University
Man Yip
Affiliation:
Singapore Management University
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Summary

The birth of bitcoin in the Great Recession of 2008 appealed to cypherpunks and libertarians distrustful of government. Together with copycat altcoins, the volatility of cryptoassets has drawn interest from investors and speculators who did not share in these ideals, including trustees, raising four questions. First, can cryptoassets be the subject-matter of trusts? Second, if so, how may the rules relating to validity be applied to cryptoassets? Third, is such an investment permitted under the terms and/or governing law of a particular trust? Finally, what must trustees be aware of in deciding whether to invest in this new asset class?

Keywords

Cryptoassetscryptoasset exchangescertainty of intentioncertainty of subject-matterinsuranceauthorised investmentsriskstrust
Type
Chapter
Information
Trusts and Private Wealth Management
Developments and Directions
 , pp. 153 - 177
Publisher: Cambridge University Press
Print publication year: 2022

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