Berlin – A YPOG team led by Daniel Resas and Niklas Ulrich advised the Federal State of Hesse on the liquidation of crypto assets with a market value of exceeding € 100 million. YPOG primarily assisted the responsible Attorney General's Office in Frankfurt am Main in negotiating and concluding a corresponding umbrella agreement with Bankhaus Scheich Wertpapierspezialist AG. Bankhaus Scheich Wertpapierspezialist AG acts as market maker in the context of such liquidation by way of a market sale. The umbrella agreement is intended to establishe a long-term partnership and thus also serves as a basis for future realizations of confiscated crypto assets by the State of Hesse.
“In any case, this is the first time that such a high-volume liquidation of confiscated crypto assets has occurred in Germany. This has posed major challenges for all participants, and not just in terms of selling them off. Above all, we had to break practically new ground in dealing with the requirements of money laundering law for the trading participants involved. I am certain that we have created a new market standard for the liquidation of government-seized crypto assets," says YPOG partner Daniel Resas.
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YPOG stands for You + Partners of Gamechangers – forward-thinking legal and tax advice. Supporting companies that are focused on emerging technologies, YPOG embraces change as an opportunity to develop cutting-edge solutions. The YPOG team offers comprehensive expertise in the areas of Funds, Tax, Transactions, Corporate, Banking, Regulatory + Finance, IP/IT/Data Protection, Litigation, and Corporate Crime + Compliance + Investigations. YPOG is one of the leading law firms in Germany for venture capital, private equity, fund structuring, and the implementation of distributed ledger technology (DLT) in financial services. Both the firm and its partners are regularly recognized by renowned national and international publications such as JUVE, Best Lawyers, Chambers and Partners, Leaders League, and Legal 500. YPOG is home to more than 150 experienced attorneys, tax advisors and tax specialists as well as a notary, working across offices in Berlin, Hamburg, Cologne, and Munich.
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