Episode 96: Bridging the Gap: Tax, Law, and the Future of Tokenization in Web3

The podcast episode delves into the empowering communities working group facilitated by 2Tokens over the past year, with a focus on the tax and legal aspects of tokenization and crypto. This week's participants include Erich Schnoeckel, Arie van den Bergen, a lawyer at Finnic Legal who specializes in helping FinTech companies with legal and regulatory advice, including blockchain and crypto, and Dennis Post, a tax partner at EY responsible for web3-related topics in the EMEA region, who has been involved in blockchain and crypto. The discussion begins by acknowledgment of the tendency for large organizations to jump on technology hypes, but also a recognition of the need for continuous focus on web3 as it is here to stay. It then examines the changing attitudes towards blockchain and crypto over time, noting how the rigid initial approach of some financial institutions has gradually become more open as the market and regulation have evolved. The role of regulation in maturing perspectives is emphasized, with organizations developing internal guardrails for onboarding crypto-related clients. Moving to the topic of tokenization and regulation, this episode underscores the need to apply existing laws and regulations to new technologies, while also considering the unique civil law, tax, and other perspectives that arise, particularly for smaller startups entering the space. The common oversight of tax considerations until late in the development process is highlighted, stressing the importance of early tax planning.Clearer guidance and taxonomy from regulators is needed to help classify different types of tokens and their tax treatment, noting the perceived reluctance of some authorities to provide practical advice to the market. The discussion then turns to the regulatory landscape, with a critique of the lack of official guidance and a call for a balanced approach that supports innovation while maintaining necessary guardrails. Erich, Arie and Dennis emphasize the need for collaboration between the industry and authorities to navigate this evolving space. Finally, the discussion turns towards the future, predicting the widespread adoption of tokenization and highlighting the importance of legal wrappers and compliance for decentralized autonomous organizations (DAOs) as the space continues to evolve. ParticipantsErich Schnoeckel: https://www.linkedin.com/in/erichschnoeckel/Arie van den Bergen: https://www.linkedin.com/in/arievandenbergen/Dennis Post: https://www.linkedin.com/in/dennisrpost/Send us Fan MailSupport the showDo you want to join one of the use cases? Contact us via [email protected]  Read more on our blog 👉 https://www.2tokens.org/news Follow us on LinkedIn 👉 https://www.linkedin.com/company/2tokensTwitter 👉 https://twitter.com/2tokens_org?s=20 Website 👉 https://www.2tokens.org/