When crypto and blockchain companies, funds or exchanges find themselves the target of a sophisticated, large-scale fraud or cyber attack, speed through global reach is key.
Companies often make impulsive decisions that imperil their recovery chances and business interests.
The pseudonymous and borderless nature of cryptocurrency means companies need to take a cross-border and nontraditional approach to maximize success.
The U.S. Department of Justice (DOJ) and Commodity Futures Trading Commission (CFTC) are aggressively directing their enforcement resources to combat against digital currency traders in the UK and greater EMEA.
Counsel located in the UK and greater EMEA region needs to be aware of the risks involved with this new-found aggression and how to prepare for any U.S.-driven regulatory inquiries or subpoenas.
Firms representing European entities and individuals involved in cryptocurrency should be more comprehensive in their preparation.