Global law firm Ashurst has advised a consortium of global financial trade associations, including GFMA, ASIFMA, SIFMA, AFME, FIA, IIF, ISDA, FSF, BPI, GBBC, and GDF on their comprehensive Distributed Ledger Technology (DLT) report, "The Impact of DLT in Capital Markets." In addition, Ashurst assisted with the accompanying letter to the Basel Committee on Banking Supervision (BCBS), urging a pause and recalibration of the Cryptoasset Exposures Standard (SCO60).
Commenting on the landmark report, partner and Head of Digital Assets Etay Katz said, "As the adoption of DLT accelerates, it is essential that regulators and legislators act in close coordination with the private sector to establish clear, technology-neutral frameworks and to support interoperability across jurisdictions and platforms. Only through such public-private collaboration can we prevent market fragmentation, enable scalable settlement solutions, and unlock the full potential of DLT to modernise financial infrastructure and drive sustained economic growth."
"That is why we are proud to have supported the leading trade associations on this global initiative," Etay added. "The report details how DLT and tokenisation are already reshaping key areas such as securities issuance, collateral management, and fund operations, and highlights live use cases where DLT is delivering substantial efficiency gains, enhanced transparency, and improved risk management across capital markets. This is yet another example of how Ashurst are driving seismic global change for digital assets in financial markets."
Ashurst's global and multi-disciplinary team provided advice on both existing and forthcoming DLT financial and regulatory law, covering UK, European Union, Hong Kong, Japan and Singapore.
The team was led by partner and Head of Digital Assets Etay Katz (London), partner Hubert Blanc-Houvan (Paris), partner Ben Hammond (Hong Kong), partner Patrick Phua (Singapore), and partner Kensuke Inoue (Tokyo). They were supported by a cross-jurisdictional group from across the firm's global network.
The Ashurst team worked alongside Gowling WLG (Adam Gareston), advising on Canadian law and Sullivan & Cromwell, advising on matters of US law.
