San Marino is the world’s oldest and smallest republic with a law system based on the ius commune directly deriving from the Roman law. San Marino has ratified the Hague Convention on the Law applicable to Trust and on their Recognition of 1 July 1985 and with the Trust Act of 2010 the internal trust law has been totally revised. Although the use of the San Marino trust has so far been limited, the innovative features of the legislation make the San Marino trust very competitive in the international context.
What happens to your Bitcoin or other cryptoassets if the custodian becomes insolvent? In the rush to investment in these alternative currencies, little attention has been paid to this consequence, not least by the custodians and exchanges themselves, as amply demonstrated by the case considered in this article. At the same time, we consider the solution to the problems presented in a number of insolvency cases around the world, by the comprehensive cryptoasset legislation introduced by the State of Wyoming, USA.
Traditionally a civil law concept, the use of foundations as wealth management and succession planning vehicles is gaining popularity in common law jurisdictions. Wyoming is the second state in the USA to adopt common law foundation legislation that will allow for the formation and administration of statutory foundations. The Wyoming Statutory Foundation Act, effective 1 July 2019, combines elements of well-established trust and corporate law in Wyoming with classical elements of foundation legislation found in civil law jurisdictions, while also providing access to Wyoming’s privacy and asset preservation laws.