As the use of cryptoassets has soared around the globe, so has cryptocurrency fraud. Consequently, regulation and law enforcement frameworks are likely to be expanded to take account of this developing risk, according to Simon Davison, a director of investigations at security consultancy AnotherDay, and Red Lion Chambers barristers Tom Davies and Michael Goodwin QC
Writing in this week’s NLJ, Davison, Davies and Goodwin believe one ‘significant development’ is a recent proposal by the Bank of England Financial Policy Committee to subsume crypto technologies within existing regulation. This goes much further than current government policy.
They look at case law, legislation and suggest possible issues that may arise. As for the immediate future, they expect further development of the common law, as well as a rise in criminal prosecutions and confiscations of cryptoassets, and a number of private prosecutions to be brought.
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