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 is a law firm specialized in tax and business law, active in the core fields of Funds, Tax, Banking + Finance, and Transactions. The team at YPOG represents a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations, as well as private equity, and venture capital funds. YPOG is one of the leading advisors for venture capital, private equity, and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus, Chambers and Partners as well as Leaders League. Today, YPOG has more than 120 experienced lawyers and tax specialists and a notary, in three offices, located in Berlin, Hamburg, and Cologne.
