The IWIRC Cayman Islands Network was very proud to host more than 90 members and friends for a fascinating panel discussion on Digital Assets and Cayman Liquidations: Practical Considerations. The panel featured speakers with a wealth of experience in the fast developing sector of virtual assets who deftly illustrated the pertinent and complex legal questions which remain unanswered. The very nature of what virtual assets are, how these assets should be classified and the treatment that should be afforded to them by an insolvency regime hint at the issues which restructuring professionals will be required to address when transactions and investments involving virtual assets become financially distressed. With more than $4.2 billion in funds raised by blockchain companies registered in the Cayman Islands by December 2018, the launch of crypto-hub Tech City as part of the Cayman Islands Special Economic Zone in 2018 and the development of technology innovation ecosystem TechCayman, the Cayman Islands is truly at the forefront of cryptocurrency and blockchain financing and governance.
The IWIRC Cayman Islands Network was pleased to offer its members and friends the opportunity to consider and discuss how Cayman insolvency and restructuring professionals might meet the challenges presented by this rapidly developing industry. Thank you to Deloitte for their generous sponsorship of this event and drinks which followed. Thanks also to Ben Sauter, Nick Kedney, Tristan Relly, Collette Wilkins and Melissa Lim for their fascinating and thought provoking insights on the panel.
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