“The Brain Drain Is Real”, Crypto Space Thirsts For Lawyers As Regulatory Pre...
Per a recent report from the Wall Street Journal, crypto companies are strengthening their legal departments. As a reaction to an increase in regulatory and political pressure on blockchain-based companies, the repercussions have caused a ripple effect across multiple sectors. Related Reading | Did The Central African Republic Adopt Bitcoin As Legal Tender? Here’s The 411 […]
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The growth of Bitcoin industry, and its huge potential to change the economy has started affecting the traditional finance industry. It can't be more obvious than the brain drain happening from financial sector to the Bitcoin sector. In recent days, many top level executives from well-known financial institutions have switched jobs to join Bitcoin based companies. This brain drain is not just confined to the financial sector, but to other sectors as well, the best example being the Nike's Global Chief Information Officer quitting the company to join BitReserve. READ MORE: Anthony Watson....
Blake Cassidy sees a brain drain from Australia since the ASX is not keen on listing crypto companies. Blake Cassidy, CEO of Australian micro-investment app Bamboo, has claimed that the Australian Securities Exchange’s (ASX) bias against listing crypto companies is causing an Aussie brain drain leading firms to seek out a US listing.Cassidy’s comments come in the same week the company announced a $3 million ($4M AUD) Series A investment round including participation from Australia’s largest cryptocurrency hedge fund, Orthogonal Trading, Mountain Ash Investment Management, and VP....
The so-called “brain wallets” have always been a topic of heavy debate in the Bitcoin world, as this solution to store funds is far from secure. Memorizing passwords is hard enough for people, but there are bigger worries with brain wallets than most people anticipate, according to a new study. Despite the idea of a brain wallet using cryptography to add....
Michael Hsu stated that it is starting to worry him that “we’re not spending that time and attention on some other things," like fintech, which he described as the “future.” United States Acting Comptroller of the Currency (OCC) Michael Hsu has expressed concerns that regulators are spending “too much time on crypto," rather than more pressing issues, such as technology and banking. The crypto skeptic OCC head made the comments during an interview with Reuters on Oct. 13, as he outlined a worry that crypto is “occupying a lot of brain space for an awful lot of people” in the regulatory....
“Litigation and enforcement activity is likely to accelerate in the current regulatory climate, perhaps in unpredictable ways,” says lawyers from Choate Hall & Stewart LLP. Regulatory uncertainty surrounding crypto has created a “fertile environment” for crypto-related litigation and enforcement to grow, according to lawyers from Choate Hall & Stewart LLP.In an analysis piece published on Law360 on June 28, lawyers from Choate Hall & Stewart LLP, including Mike Gass, Diana Lloyd and Alex Bevans, noted increasing evidence that “novel applications of existing laws” are being used to litigate....