Crypto Lawyers: What Exactly Are They And Why Are We In Need Of them?

Crypto Lawyers: What Exactly Are They And Why Are We In Need Of them?

Crypto lawyers help in guiding us on our journey through the unregulated jungle. There are lawyers everywhere that are experts in various fields, from family law to animal law. Of course, the more popular that cryptocurrency becomes, the more the need for crypto lawyers will grow. You will see that the laws to do with cryptocurrency are quite vague and they are often different depending on the location. On top of all of these mixed up regulations, cryptocurrency has brought into the world its own types of lawsuits. Even though these types of lawsuits are going to be very similar to the ones found in the financial world. A lot of those individuals are going to need an expert in cryptos for aid during litigation.

Finding Expert Crypto Lawyers

All of the crypto lawyers are going to be experts in blockchain technology as well as the regulations surrounding cryptocurrency. These lawyers are all of great help when it comes to breaking down the technology to court at the time of litigation. They will also be a big help in breaking down the laws surrounding cryptocurrency exchanges, startups, and developers. When it comes to the crypto world and lawmakers, these types of lawyers are the preferred liaison. ICOs and Exchanges are the areas that are most important for the cryptocurrency lawyers.

ICO Scams

It can be very easy to fall for a phony crypto whitepaper, if you were questioning how all you need to do is look at HoweyCoins. You will see that investors are also going to normally skim through the whitepapers as well as invest in cryptocurrency. This is all simply because there is a lot of hype going on about it. There are even whitepapers that are legit, but the developers are just not able to deliver with them. Finding out if an ICO is legit or not can take a lot of time and effort. However, if you do choose the wrong type you might want to get ahold of a crypto lawyer.

One example that comes to mind in terms of an ICO not going as expected is Centra Tech. The founders of the company are currently going up against charges after they raised $32 million with their ICO. They also had endorsements coming from DJ Khaled and Floyd Mayweather. This was an ICO scheme that lured in the investors. They made claims of partnerships with major credit cards, bios of the founders that were fake, and manipulating the prices of the CTR or Centra tokens that they had created.

When it comes to cases such as the one mentioned above, a crypto lawyer is certainly going to be needed. Of course investors realize that they were the victims of fraud, but it is going to take someone who is experienced with the unregulated legal world of crypto to make things happen.

Final Thoughts

Even though your best chances are going to come from staying away from lawsuits, it is not always going to be that simple. Exchanges are always going to get hacked, ICOs are bound to fall through, and money is almost guaranteed to be lost throughout all of this chaos. You just need to always remember to do your best, as well as remembering to be careful with any investments that you make. However, if there are troubles that come into play, you can always count on the crypto lawyers to make a difference.

May 31, 2018

About Author

Oliver Jensen

Oliver Jensen Oliver Jensen is a professional multi-talented cryptocurrency and blockchain technology writer. One of his goals is to spread the word about the potential of this new technology by writing high quality, comprehensive, and accurate crypto articles and news. You can count on him for accurate reviews of ICOs and latest news that are shaping the crypto word. He has a keen eye and yearns to make sure that all legit cryptocurrencies and ICO are highlighted on the website. His consistency and commitment has helped rank high among other crypto writers.