Kokila Alagh is the Managing Partner of Mahmood Hussain Law Firm (MHLF) and one of its founding members. She is also the Head of the Corporate Department at the firm. Since MHLF’s inception, Kokila has driven the firm’s growth by strategically anticipating wider market trends to equip her team for the future. In line with this approach, she is now forging a path for the firm in the FinTech space in response to the rapid evolution of the global digital economy.

MHLF now stands as one of the UAE’s only law firms that can assist and advise clients on the launch of cryptocurrencies across the world. Under Kokila’s stewardship, MHLF’s scope of FinTech work encompasses advising clients on the correct jurisdiction to carry out their proposed activities; assisting clients with funding rounds and the implementation of blockchain technology; providing full legal support for Initial Coin Offerings (ICOs); and setting up of cryptocurrency exchanges . At MHLF, Kokila has built a team which can also assist clients in drafting shareholder and token share agreements, advise them on issues related to intellectual property, and evaluate the viability of the underlying businesses and promoters.

MHLF’s new FinTech capabilities are underpinned by strong ties with a large chain of law firms with relevant expertise and technical experts around the globe, as well as Kokila’s Masters in Law, in Digital Economy from the Monash University in Melbourne, Australia, where she developed an indepth understanding of electronic payment systems, banking and e-commerce law and consumer protection electronic commerce.

Kokila is also the author of a number of respected e-commerce reports including Internet Banking – Emerging Legal Risks and Digital Signature Laws – Indian Perspective, as well as a recent article on Initial Coin Offerings and Fund Raising. In addition to this, Kokila and her team are currently advising an International group on their ICO launch and cryptocurrency issuance. The firm is also assisting a Company launch their cryptocurrency exchange in the region.

Initial Scope of Work
When dealing with cryptocurrencies, the most important task is to identify the appropriate jurisdiction to carry out the company’s proposed activities. There are many regulatory aspects that must be considered by a company or an individual before they take a plunge into this
field. After carrying out in-depth research and speaking to experts around the globe, we at MHLF can assist you with the following:

X Overall advice on structure and choice of jurisdiction
X Advice on issuance of tokens in return for the investments
X Providing advice on whether the token issued would be considered a security for the purposes of the jurisdiction of choice, and if the proposed offering would require registration or qualify as an exempt transaction

ICO’s & Funding
In order to achieve the full potential of an Initial Coin Offering (ICO), it is essential that the documents backing the ICO are in order. At the same time, it is essential to address concern related to the issuance and sale of tokens prior to the ICO. In this regard, the MHLF team can deliver and assist on the following:

X Drafting of simple agreements for future tokens and ancillary pre–ICO documents
X Reviewing and proposing amendments to the token sale white paper from the perspective of the applicable jurisdiction
X Drafting terms and conditions for the public sale of tokens (if required)
X Drafting token purchase agreements for the private sale of tokens
X Drafting privacy policies for token sale websites
X Drafting operating agreements between the issuer and the operating company
X Drafting/reviewing the constitution of the issuer (if necessary)
X Liaising with counsels in other jurisdictions for the above, pertaining to the laws in their respective jurisdictions (if required)
X Reviewing marketing and promotional material relating to the ICO Setting up a Cryptocurrency Exchange Setting up a Cryptocurrency exchange is an exhaustive process; however, we have successfully managed to identify the specific requirements, costs and timelines for such a set-up in various jurisdictions.

Our scope of work in this regard includes:
X Overall advice on structure and choice of jurisdiction, including assistance in identifying the best form of currency transfer, i.e. Fiat to Crypto or Crypto to Crypto
X Advice on the relevant regulations of the identified jurisdiction
X Drafting agreements with financial institutions, banks, payment processors, e-wallet providers, etc.
X Drafting privacy policies, terms and conditions, and user manuals for the exchange
X Assistance and advice on KYC
X Drafting ancillary documents (if any) In addition to the above, we can provide assistance in drafting shareholder agreements and token share agreements between team members, investors and advisers.

We can also advise on issues related to intellectual property, and evaluate the viability of the underlying
business and promoters.

Lastly, we have built strong ties with a large chain of law firms and technical experts around the globe, which makes MHLF the go-to law firm for cross-border structuring and advice for set-up, trading and fundraising through Cryptocurrencies.

We hope to successfully assist you in your endeavors in this field!