Crypto and Web3: Legal Advisory

Basnet Law Pte. Ltd. advises exchanges, custodians, token issuers and protocol teams on GMC's Financial Services Act 2025, under which virtual assets are regulated through the same Schedule 1 activities as traditional finance and supervised by the Gelephu Financial Services Office (GFSO).

Perimeter analysis: whether your activity is carried on "by way of business" and whether it falls within a specified activity or an exclusion.

Exchange licensing under Operating a Multilateral Trading Facility or Organised Trading Facility and the order-routing exclusion.

Custody structuring under Providing Custody, which expressly covers "Virtual Assets".

Stablecoin projects under Issuing a Fiat-Referenced Token, read with Providing Money Services.

Token classification against the specified investments, Part 3, including environmental instruments.

Legal advice on the GFSO licensing process, from initial meeting through In-Principle Approval.

Centralised exchanges and brokers seeking a regulated Asian base. Custodians and wallet providers safeguarding client virtual assets. Stablecoin and payment token issuers. Tokenisation platforms and digital securities issuers. DeFi, DAO and infrastructure teams that need a defensible perimeter opinion.