Cryptocurrency exchange launches in Australia with Hall & Wilcox's advice

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One of the world’s largest cryptocurrency exchange operators has landed down under, thanks to help from Hall & Wilcox’s finance experts.

A team headed by special counsel John Bassilios advised Singapore-headquartered Zebpay, which launched its cryptocurrency exchange operations in the country on 8 May. The team also included partner Anthony Bradica, special counsel James Deady, and lawyers Adam Dimac and Joni Pirovich.

The firm said that the team oversaw the entire launch process. “Hall & Wilcox’s multidisciplinary teams were able to seamlessly advise on all aspects of Zebpay’s business requirements from start to finish,” Bassilios said.

Hall & Wilcox gave advice on what cryptocurrencies can be listed on the exchange without regulatory licenses, as well as on matters related to privacy, tax, anti-money laundering and countering terrorism financing. It also advised on registering as a digital currency exchange with AUSTRAC, as well as drafted terms and conditions for the Australian exchange.

Founded in 2014, Zebpay operates in 132 countries and has three million users and $2bn in fiat to crypto transactions, Hall & Wilcox said. The move follows the debut of the company’s exchange in Europe in October.

“Australia is fortunate to have one of the world’s largest crypto exchange operators establish itself here,” Bassilios said.

Hall & Wilcox provides specialised legal advice in all areas of blockchain and cryptocurrencies. It recently advised Blockchain Australia, the Australian Digital Commerce Association, and Fintech Australia with their submissions to Treasury on the government’s initial coin offering consultation.