The international law firm Walkers used the recent Consensus 2025 Conference in Toronto to release its annual white paper, which this year explores how the digital assets industry is expanding in a post-boom world.

Six partners from their global fintech team shared perspectives on how market expectations have evolved, the key challenges facing institutional players and how they are balancing innovation and compliance.

The white paper, Digital assets in the post-boom world, highlighted how new clients often underestimate the rigour of offshore regulation, mistakenly expecting a light touch.

Offshore jurisdictions such as Bermuda apply standards comparable to onshore regimes, with robust licensing, anti money laundering compliance and government expectations.

Walkers said clients reflect a growing acceptance of regulation as both inevitable and necessary.

Companies are increasingly playing regulatory hopscotch, Walkers said, shifting among jurisdictions in search of the right fit.

A Bermuda partner at the firm, Natalie Neto, who is one of the paper’s authors, commented: "Walkers is delighted to partner with some of the leading pioneers in this sector who are utilising Bermuda's prudent yet flexible regulatory framework to innovate and create cutting edge digital finance solutions and provide global access to exciting new products and services."

The expectations for legal advisers are changing and expanding. They have become business enablers, balancing regulatory compliance with commercial goals.

Fellow Bermuda partner and fellow author, Rachel Nightingale, commented: “Bermuda offers a stable, sophisticated legislative and regulatory regime that is ideally suited for fintech clients seeking a jurisdiction they can trust for long-term certainty.

“Unlike many onshore environments where regulatory frameworks are often too rigid or subject to change, Bermuda provides a well-established, consistent approach that fosters confidence and predictability.

“This makes the jurisdiction particularly attractive for clients looking to transition away from regulatory uncertainty and has led to year-on-year growth in the volume and scope of fintech work being conducted here.

“Bermuda is perfectly placed to support global fintech businesses and has continually enhanced the scope of its legislation enabling a wider range of innovative financial products and services to operate within Bermuda's regulatory regime, encouraging the global leading fintech businesses to establish themselves in the jurisdiction.”

Other co-authors from the firm were Natalie Curtis, Melissa Lim, Dilmun Leach and Iona Wright.

“Clients expect legal advisers to act as long-term partners, guiding them through the full business life cycle,” the paper said. “It is no longer just about licensing or setting up entities.”

They want trusted partners who can help them understand the legal jargon, drive innovation and build a sustainable business.

A recent survey by EY-Parthenon, and Coinbase, found that 83 per cent of institutional investors plan to increase their digital asset allocations in 2025, citing regulatory clarity as a key driver.