Crypto Assets and Cryptocurrency

Overview

Cryptocurrency has emerged as one of the most innovative developments in business and finance. Its use of encrypted, decentralised blockchain has revolutionised the way individuals and corporates conduct operations and it is continually offering new business possibilities, either through investment or its use in transactions.

There is little doubt that crypto is an ever-evolving area – as is the law in relation to it. Rashid Imran Attorney has already proved itself unrivalled when it comes to navigating this exciting, rapidly-developing sector.

Through a series of significant cases that have helped define and refine the law regarding cryptocurrency, Rashid Imran Attorney’s experts have shown themselves to be pioneers in the field. We are one of the UK’s most influential cryptocurrency law firms, with a track record of success in the leading cases involving crypto asset fraud, smart contracts and the intersection of new technologies with existing law and regulations.

Central to our approach to cryptocurrency and blockchain practice is a profound comprehension of and passion for the technologies powering blockchain and associated advancements in distributive computing networks.

We have represented and or advised multinational regulated businesses on issues surrounding securities, AI laboratories building machine learning platforms on blockchain, utility tokens trading in global markets, cryptocurrency exchanges seeking advice on sanctions compliance and asset recovery and global NFT marketplaces on regulatory, anti-money laundering and sanctions compliance.

Experience

Cryptocurrency does not adhere to borders. Its regulation is in its relative infancy, and it carries risks. These factors mean that anyone considering any involvement with it must be fully aware of its intricacies.

At Rashid Imran Attorney, our international experience means that we are ideally placed to offer the best advice, carry out the necessary checks, deal with the relevant enforcement agencies worldwide and assist whenever assets need to be traced and recovered.

Such agencies have been quick to assess the potential dangers associated with such currencies, which are often subject to allegations that they have been set up to defraud investors and or are being used to facilitate other offences. From investment frauds to ransomware, cybercrime can take many forms. In recent years, cryptocurrency has also become the preferred detergent for bad actors looking to launder proceeds of crime.

Any company or individual that comes under investigation has to know how to respond – and must do so quickly. We put ourselves at the forefront of representing those who believe they may have, or are accused of having, used cryptocurrency as a vehicle for wrongdoing.

Many may also find themselves needing to recoup their cryptoassets as a result of wrongdoing which has been committed against them. We employ a number of asset recovery instruments to seek a return of the assets to their rightful owner, including proprietary injunctions, freezing injunctions, bankers trust orders and Norwich Pharmacal orders.

Active

Rashid Imran Attorney was involved in the first UK cryptocurrency case to go all the way to successful enforcement for a client, who was a victim of fraud. We have had a longstanding presence in this area of law.

Our specialist blockchain cryptocurrency team brings together legal expertise from investigations, litigation, regulatory, asset tracing and business crime practices. We specialise in all areas of cryptoasset compliance and disputes and are on hand to ensure that we can help in whatever way assistance is needed.

The ever-changing crypto asset landscape

Digital assets and non-fungible tokens (NFTs) have seen exponential growth in the last few years. They have become increasingly popular and have led to a greater public understanding of what blockchain related technologies are capable of. This, however, has produced a range of novel legal issues, ranging from market manipulation to various types of fraud.

Decentralised Automated Organisations (DAOs) have seen a rise in interest and implementation across a number of sectors. As with any decentralised entity or concept, the issue of governance is one that often leads to complex and nuanced disputes. Tailored advice is required to address specific concerns as no two DAOs are the same.

The metaverse and Web3 have attracted users who may not fully understand the extent of this technology. Given limited regulations, bad actors have seen an opportunity to misappropriate funds and assets. Those who involve themselves in the many facets of digital assets and cryptocurrencies will have to be mindful of the developing regulatory landscape.

How Rashid Imran Attorney can help

Rashid Imran Attorney has an in-depth guide on the subject of crypto asset recovery that answers the questions many will have about this area of law.

We are able to offer advice and representation on all crypto-related matters, including advising on the potential benefits of blockchain technology, assisting crypto asset service providers seeking to register with the Financial Conduct Authority, setting precedent relating to digital assets in the courts of England and Wales and providing tailored advice on pitfalls around initial coin offerings and security token offerings.