Cryptocurrency

Bloomberg: cryptocurrency lawyers are becoming increasingly popular

According to experts at Bloomberg Law, soon a significant demand for lawyers will appear on the cryptocurrency market, as the industry begins to be actively regulated.

According to experts at Bloomberg Law, soon a significant demand for lawyers will appear on the cryptocurrency market, as the industry begins to be actively regulated.

The publication interviewed many experts about the development of the cryptocurrency industry and the need for legal support for companies in the industry. Most respondents are confident that in the near future the number of employees working in the field of cryptocurrencies will increase significantly. The legal departments of cryptocurrency companies will also increase. 

Marko Santori, Director of Legal Affairs at Kraken, expects the company’s legal team to double by 2021. He emphasized that “cryptocurrency companies are serious about participating in the development of industry laws.”

At the same time, lawyers note the lack of regulation of the industry in many countries. Ripple General Counsel Stuart Alderoty emphasized that the cryptocurrency industry needs “smart regulation that simultaneously recognizes and develops the potential of technology.” 

According to Santori, the lack of transparent and clear laws makes the cryptocurrency industry ideal for those lawyers who want to “accept the intellectual challenge.”

Recall that recently the Chairman of the Bank of Russia Elvira Nabiullina said that in order to develop the industry, the basic provisions on digital assets should be legislated.

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