Regulation of cryptocurrency is still evolving. Anyone using it must be aware of the risks. Anyone who comes under investigation for using it must know how to respond.
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. Rahman Ravelli has already proved itself unrivalled when it comes to navigating this exciting, rapidly-developing sector. Through a series of hugely-significant cases that have helped define and refine the law regarding cryptocurrency, Rahman Ravelli’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 authentic passion for - the technologies powering blockchain and associated advancements in distributive computing networks.
We have represented and / or advised:
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 Rahman Ravelli, 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.
While cryptocurrency and blockchain is still a relatively new concept from a regulation perspective, it has attracted the attention of enforcement agencies around the world. 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 that are at our disposal to seek a return of the assets to their rightful owner. We have seen first-hand how cryptoassets have been identified as being suitable for civil remedies and have had involvement in leading judgments for interim relief such as proprietary injunctions, freezing injunctions, bankers trust orders and Norwich Pharmacal orders.
Rahman Ravelli 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. Since its inception, we have been at the forefront of the asset recovery space when dealing with the crypto industry.
Our specialist blockchain cryptocurrency team at Rahman Ravelli brings together a wealth of legal expertise from multiple disciplines across the firm, including our investigations, litigation, regulatory, asset tracing and business crime practices.
We specialise in all areas of cryptoasset compliance and all types of cryptoasset disputes and are on hand to ensure that we can help in whatever way assistance is needed.
Digital assets and Non-Fungible Tokens (NFT’s) 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 (DAO’s) have seen a rise in interest and implementation across a number of sectors. DAO’s are organisations or communities, typically based on blockchain technology. They have no central governing body and are developed by their members, adopting a bottom-up management approach. 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 DAO’s are the same.
The metaverse, and by extension Web3, have been popular terms, not only in the legal sector but for much wider audiences. As was the case with cryptocurrencies and, to an extent, NFT’s when they first saw a rise in user adoption, a large proportion of those becoming involved do not fully understand or appreciate the extent of this technology. Given the extremely limited regulations governing this area, bad actors have seen this as an attractive opportunity to misappropriate funds and assets.
The limited regulations around the digital asset and cryptocurrency sector have led to it often being referred to as “wild west”. The UK government is seeking to address this with such proposals as the Financial Services and Markets Bill. This will most likely be the first of numerous pieces of legislation that seek to govern this sector. As such, those who involve themselves in the many facets of digital assets and cryptocurrencies will have to be ever mindful of the developing regulatory landscape.
Rahman Ravelli 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.
“Known for its expertise in cryptocurrency fraud cases.”
The Times Best Law Firms 2023
“Notable cryptocurrency experience.”
The Legal 500
“An unrivalled expertise in the field of financial crime, in particular where there is an international dimension to the case.”
The Legal 500 2022