*/
Aidan: The English legal system has been at the forefront of crypto disputes for years – from the UK Jurisdiction Taskforce statement and developing case law, to the launch in 2021 of the Digital Dispute Resolution Rules. Consequently, in some international cases, it is clear that the UK has an edge over other jurisdictions and we have seen the result of that in action with successful client recoveries. CFAAR wants to ensure that this experience secures the UK as the preferred seat for crypto disputes and to help guide how the rest of the world approaches these disputes.
Nick: There have been, and will continue to be, a number of consultations from the likes of the Law Commission, the UK Treasury and the Financial Conduct Authority on how to deal with cryptoassets. CFAAR will bring together the leading names and their combined experience at the sharp end of crypto disputes and investigations to provide an authoritative, coordinated industry voice to guide the development of policy, legislation and regulation. In particular, there are unregulated crypto platforms which fall outside the existing financial services regulatory structure, who do not have a unified voice and CFAAR can have an influence on their behalf.
Aidan: Since its launch back in September, CFAAR has very quickly grown a global profile through its LinkedIn group, its events and media interest. We will soon be launching a website and already have a calendar of regular events planned for the coming months. One focus is the launch of ‘foreign chapters’ in the jurisdictions and offshore financial centres which are the home of the major exchanges and will be hubs for crypto cases. These foreign chapters will ensure that market leaders are working together and mean the momentum of CFAAR continues in a practical and meaningful way.
Aidan: As the mainstream progression of crypto continues, this sector is now dealing with wider issues, not just cybercrime or the stereotypical dark web-related crypto seizures. From civil asset recovery, contentious insolvency, commercial arbitration, deceased estates and the development of central bank digital currencies, cryptoassets are becoming more prevalent across multiple sectors. Changes to proceeds of crime legislation to make it easier to seize cryptoassets and which impose greater regulation upon virtual asset service providers is also expected in 2022. CFAAR members and their collective experiences will become an invaluable resource for industries navigating the challenges that this rapid evolution will inevitably produce. As it becomes easier to identify illicit or stolen crypto with greater use of blockchain analytic tools, enforcement activity will increase and we will hopefully see many more successful outcomes for victims in asset recovery cases.
Nick: At our official launch in September, Sir Geoffrey Vos rightly evangelised the need for ‘education, education, education’ about crypto. This applies from the victims of crypto fraud to the law-makers. CFAAR’s central ethos is about inclusivity and sharing information and best practice. Our founding members are experienced practitioners behind the landmark crypto judgments in the English courts; we want to break down misconceptions for clients, build best practice for investigations and guide the development for the future.
Aidan: The English legal system has been at the forefront of crypto disputes for years – from the UK Jurisdiction Taskforce statement and developing case law, to the launch in 2021 of the Digital Dispute Resolution Rules. Consequently, in some international cases, it is clear that the UK has an edge over other jurisdictions and we have seen the result of that in action with successful client recoveries. CFAAR wants to ensure that this experience secures the UK as the preferred seat for crypto disputes and to help guide how the rest of the world approaches these disputes.
Nick: There have been, and will continue to be, a number of consultations from the likes of the Law Commission, the UK Treasury and the Financial Conduct Authority on how to deal with cryptoassets. CFAAR will bring together the leading names and their combined experience at the sharp end of crypto disputes and investigations to provide an authoritative, coordinated industry voice to guide the development of policy, legislation and regulation. In particular, there are unregulated crypto platforms which fall outside the existing financial services regulatory structure, who do not have a unified voice and CFAAR can have an influence on their behalf.
Aidan: Since its launch back in September, CFAAR has very quickly grown a global profile through its LinkedIn group, its events and media interest. We will soon be launching a website and already have a calendar of regular events planned for the coming months. One focus is the launch of ‘foreign chapters’ in the jurisdictions and offshore financial centres which are the home of the major exchanges and will be hubs for crypto cases. These foreign chapters will ensure that market leaders are working together and mean the momentum of CFAAR continues in a practical and meaningful way.
Aidan: As the mainstream progression of crypto continues, this sector is now dealing with wider issues, not just cybercrime or the stereotypical dark web-related crypto seizures. From civil asset recovery, contentious insolvency, commercial arbitration, deceased estates and the development of central bank digital currencies, cryptoassets are becoming more prevalent across multiple sectors. Changes to proceeds of crime legislation to make it easier to seize cryptoassets and which impose greater regulation upon virtual asset service providers is also expected in 2022. CFAAR members and their collective experiences will become an invaluable resource for industries navigating the challenges that this rapid evolution will inevitably produce. As it becomes easier to identify illicit or stolen crypto with greater use of blockchain analytic tools, enforcement activity will increase and we will hopefully see many more successful outcomes for victims in asset recovery cases.
Nick: At our official launch in September, Sir Geoffrey Vos rightly evangelised the need for ‘education, education, education’ about crypto. This applies from the victims of crypto fraud to the law-makers. CFAAR’s central ethos is about inclusivity and sharing information and best practice. Our founding members are experienced practitioners behind the landmark crypto judgments in the English courts; we want to break down misconceptions for clients, build best practice for investigations and guide the development for the future.
In this month’s column, Chair of the Bar Sam Townend KC highlights the many reasons why barristers should pay the Bar Representation Fee and back the Bar Council’s efforts on behalf of the profession
Leading legal DNA, drug, and alcohol testing provider AlphaBiolabs has made its first Giving Back charity draw of 2024 with Andrew Sibson, a Legal Officer at Leeds City Council, being chosen as its first winner
Discover Lloyd’s unique approach to financial planning and experience working with barristers
Trust Delaunay Wealth to stand by your side amid the uncertainties ahead, writes Lloyd French
Win £500 for your chosen charity
Paul Magrath on the law reporter's craft and history of the headnote
Lighting fires that cast unfairness into the shadows, creating history at home and abroad, and being comfortable with who you are – the remarkable criminal and international human rights barrister Kirsty Brimelow KC
GLD barrister Caroline Croft, one of the largest legal heads in the country, tells Anthony Inglese what drew her to public law and politics
Deaccession, repatriation and the British Museum thefts. By Fahrid Chishty and Natalia Ameen
Bibi Badejo reports from a packed Inns of Court Women’s Alliance event examining the experiences of Black women barristers and imparting crucial advice for Black women navigating the legal profession
With AI models the subject of litigation worldwide, courts are grappling with what copyright protects, what it should protect, and how. Mark Wilden reports