Best Practices for Funds That Invest in Digital Assets

A recent panel of professionals from digital-assets-service companies analyzed the unique issues and risks facing fund managers that invest in cryptocurrencies and other digital assets, including maintenance of appropriate books and records; custody; and other compliance and regulatory matters. Moderated by William V. de Cordova, Editor-in-Chief of the Hedge Fund Law Report, the program featured David Byrd, blockchain assurance research lead at EY; Karl Cole‑Frieman, managing partner at Cole‑Frieman & Mallon LLP; Matthew Johnson, co-founder and chief product officer at Digital Asset Custody Company; Lisa L. Roitman, Bloomberg business development and marketing strategist; and Matthew Stover, CEO at MG Stover & Co. This article summarizes their insights. See “Ten Risk Areas for Private Funds in 2018” (May 3, 2018). For additional insight from Cole‑Frieman, see “How Blockchain Will Continue to Revolutionize the Private Funds Sector in 2018” (Jan. 4, 2018). For more from Roitman, see “Procedures for Hedge Fund Managers to Safeguard Trade Secrets From Rogue Employees” (Jul. 21, 2016).

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