1/8/2023 0 Comments Caught in quicksand youtubeWe all recognize that cryptoassets are notoriously volatile. This is a clause I read recently in a commercial agreement between two financial service providers. “ … shall not retain more than $100,000 worth of Bitcoin or other like-assets in any single cold storage wallet on premise at location. ![]() Many of my colleagues today are being asked difficult questions about cryptoassets and frankly the level of industry knowledge and understanding isn’t quite there yet. When I say cryptoassets I’m referring to any cryptographically secured asset or currency residing on a blockchain (or similar data structure) such as Bitcoin, Ether, Ripple, and many others. One of the biggest grey areas are cryptoassets. Lawyers need access to consultants accountants should be working with technologists, and financial planners should be engaging entrepreneurs and developers to truly understand client’s needs and offer innovative solutions. We’re in an age where industries are converging and lawyers, accountants and financial planners need to have a far broader understanding of technology, economics and global trends. Legal finesse or commercial acumen on their own are no longer enough. ![]() Professional services now demand multidisciplinary teams.
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