The Offshore Crypto World    

The Offshore Crypto World
Karen Jones

By Karen Jones, founder and CEO of Citywealth

who recently created the Citywealth Crypto Club, is in prime position to gather first-hand knowledge of the latest crypto developments in offshore territories.

Citywealth is an international media and events company that connects Ultra High Net Worth individuals and private wealth managers globally. As the CEO of the company, and with a passion for the crypto world, Karen regularly meets top crypto natives from offshore territories either when they fly into London to attend her club meetings or during her own frequent trips overseas.

Isle of Man, Switzerland, Lichtenstein and Bermuda

Karen has unique contacts within the governments of these offshore territories and knowledge of crypto developments domestically in the jurisdictions. Whilst New York and London attract the majority of crypto natives, offshore territories have steadfastly built up special expertise, and are working with regulations that offer innovative routes to market. A new trend has emerged of tactical crypto legislation to protect current laws. Whilst it’s not to attract crypto natives necessarily by default, it will offer opportunities to conduct business more easily.


Another interesting territory is Lithuania, where Binance – the world’s biggest cryptocurrency exchange – have their institutional custody. Lithuania has seen a surge in crypto applications just like Dubai has, but it remains to see if this sustains long term stability, bearing in mind that global governing bodies like FATF and the OECD keep their eyes firmly on developments in these areas. It could be a time for crypto to ask what’s next in terms of crypto prosecutions, not just the obvious, which is “crypto needs regulating”.

Citywealth Crypto Club

Having always had a keen interest in cryptocurrency, both in trading and NFTs – Karen created the Citywealth Crypto Club a year ago for safe adoption of crypto for the institutional UHNW or accredited investor market- joining the mere 5% of crypto entrepreneurs who are women. Karen was also a TedxHSG salon speaker at St Gallen University, Switzerland, talking about NFTs being part of a new art history.

The club is open to crypto professionals and wealth managers, whether to discuss regulation, tax, disputes, custody, or to hear from compliant and verified crypto natives. The club meets quarterly to keep abreast of the latest developments within the sector.

Citywealth also has “Citywealth Crypto Accredited” listings and rankings of highly recommended people and organisations, introduced after thorough vetting – examining key competency areas such as cases or deals worked on, educational backgrounds and resources in crypto as well as history with clients in the industry.  This enables Karen to offer a list of credible, approved advisors, managers and verified crypto organisations to work with that have professional touchpoints in the form of lawyer/accountant or trustee references.

Karen has attracted some illustrious speakers to her crypto meetings. Amongst these were Daniel Masters, Chairman, Coinshares; Miami based Blockbar, who have a successful liquor business and now sell special editions with experiences and limited editions NFTs; Steven Rees Davies, Partner at Carey Olsen, Bermuda to discuss the growing crypto native business in Bermuda which includes Coinbase.

Most recently, Lord Holmes from the House of Lords gave an update on UK regulation progress.


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