The International Capital Market Association (ICMA) and International Securities Lending Association (ISLA) published the Digital Assets Annex (DAA) to accompany the Global Master Repurchase Agreement (GMRA) and the Global Master Securities Lending Agreement (GMSLA) on the back of demand for clarity in legal treatment of digital assets and infrastructures. We hear from Tina Baker, ISLA’s head of Legal Services, and Michael Brown, partner at Clifford Chance, about the background developments and some of the business implications.
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