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What future for cryptocurrency?

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Will the Labour government usher in a new era for digital assets? Keith Oliver & Amalia Neenan FitzGerald consider the evidence

Since its inception, crypto has often been perceived as the currency of the criminal. High-profile scandals are often splashed across the headlines, which at times have overshadowed the asset’s use as a viable alternative fiscal product, daring to push the boundaries of traditional fiat finance. For instance, in May, two men from the South West of England pleaded guilty to three counts of conspiracy to commit fraud after the pair admitted to spoofing the crypto-exchange website Blockchain.com and stealing in excess of £5.7m worth of cryptocurrency.

Their scheme allowed the men to access bitcoin wallets, drain the wallets of their funds, and take user login details. During its investigation, the South West Regional Organised Crime Unit identified 55 victims of the fraud in 26 countries, with 11 of those victims being UK based. This recent case again highlights the global magnitude of the problem. The borderless nature of cryptoassets allows fraudsters to tap into international

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MOVERS & SHAKERS

Hogan Lovells—Lisa Quelch

Hogan Lovells—Lisa Quelch

Partner hire strengthens global infrastructure and energy financing practice

Sherrards—Jan Kunstyr

Sherrards—Jan Kunstyr

Legal director bolsters international expertise in dispute resolution team

Muckle LLP—Stacey Brown

Muckle LLP—Stacey Brown

Corporate governance and company law specialist joins the team

NEWS

NOTICE UNDER THE TRUSTEE ACT 1925

HERBERT SMITH STAFF PENSION SCHEME (THE “SCHEME”)

NOTICE TO CREDITORS AND BENEFICIARIES UNDER SECTION 27 OF THE TRUSTEE ACT 1925
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