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Posts Tagged ‘technology’

Shaping Blockchain Law: Matt Green Reflects on Career and Landmark Crypto Cases in CDR

Posted on: May 14th, 2025 by Natasha Cox

Head of Blockchain and Digital Assets and Technology Disputes, Matt Green, speaks with Commercial Dispute Resolution (CDR) about his career in the crypto asset space and how some of the notable cases he has worked on have influenced legal precedent around blockchain and digital assets. 

Matt’s interview was published online in Commercial Dispute Resolution (CDR), 12 May 2025 and can be found here.

Discussing the first crypto case he was involved with, the landmark AA v Persons Unknown, Matt explains “I was enormously opportunistic, and I just rode with it… I was in the right place at the right time.”

He notes how there was “a big gap in the market” at the time, with many in the blockchain and digital asset space not knowing that there were legal routes to trace and recover their stolen or hacked assets.

Speaking on lessons learned during his career, Matt comments:“It is attrition, staying in the game, not overreaching. Being very aware that you don’t know everything. I don’t think anybody could say they did have all the answers, on the basis that the judiciary and the industry are trying to figure it out.”

Discussing the evolution of both his practice and the digital asset space itself, Matt explains that “there will be huge intellectual property battles about a variety of different things that we probably can’t even imagine yet, it’s almost unknowable.”

With many of Matt’s cases showing the “grizzly places” of the crypto world – from pig butchering scams on Facebook groups for grieving widows to tracing stolen assets to an organ farm in Southeast Asia, and the high-profile disputes over the identity of Satoshi Nakamoto.

Yet despite this, Matt encourages people to see the wider utility of this technology, telling CDR that he would like to see the “wider adoption and understanding of the applications of blockchain tech and digital assets.”

For junior lawyers looking to get into the constantly evolving world of digital assets and blockchain, Matt explains that there are plenty of ways: “set up a blog, write articles, start a podcast, join groups. If you get involved with the industry that you choose, you’re going to be much more valuable to a law firm than if you don’t, and there is no date by which you should start doing this.”

For more on our Blockchain, Digital Assets and Technology Disputes services, click here

Matt Green Co-Signs Industry Letter to Support Innovation in Digital Asset Sector

Posted on: April 10th, 2025 by Natasha Cox

Director and Head of Blockchain and Digital Assets, Matt Green, recently co-signed a letter to the UK government alongside a coalition of leading UK and global trade bodies in the crypto digital assets sector, on behalf of techUK.

Addressed to Varun Chandra, the Prime Minister’s Special Adviser on Business & Investment, the letter cites recent geo-political events as key reasons as to why the UK should continue to advance its digital asset and blockchain policy to ensure that it becomes a premier jurisdiction for crypto investment and innovation.

Matt and his fellow signatories put forward a number of practical recommendations to the government, including the following:

  • Appointing a ‘blockchain’ special envoy to drive policy alignment and innovation
  • Developing a Government Action Plan for digital assets and blockchain technology
  • Recognising the synergy between blockchain, quantum computing, and AI
  • Establishing a high-level forum for industry-government-regulator engagement

Click here to read their letter in full.

This news was covered by The Times, Binance, Digit News, Finextra, Crypto News, Bloomingbit, FX Street, Trading View and Block Weeks.

For more information on our Blockchain and Digital Assets services, click here

Crypto assets for businesses

Posted on: November 1st, 2023 by AlexT

The business landscape is continually evolving, with technology being a major catalyst for fostering progress, increasing capabilities, and maintaining a competitive edge.

Among the recent innovations capturing the interest of businesses is the rise of crypto assets and the blockchain technology that underpins them. Major brands such as Microsoft and Sotheby’s, as well as independent companies from travel agencies to cafés, are increasingly adopting crypto assets and harnessing their potential, seeking to position themselves to benefit immensely from these distinctive digital assets.

What’s in it for businesses?

One of the main appeals of crypto assets is the swift and transparent payment transaction mechanism that they provide. In an age where cash payments are on a significant decline, the ability to facilitate fast, transparent and secure payments is appealing to consumers and businesses alike.

Additionally, transactions with crypto often attract fewer charges compared to traditional payment methods. Crypto assets do not require intermediaries to facilitate transactions and the elimination of these intermediaries like banks and payment gateways in favour of a decentralised verification system (in other words, the blockchain) minimises the costs associated with traditional payment processing. Also, by merit of being exclusively digital, crypto assets negate the need for physical payment infrastructures such as card machines.

An undeniable upside for businesses adopting cryptocurrency payment is virtually zero risk of chargebacks. With every transaction confirmed and immortalised on the blockchain forming a secure, tamper-proof and transparent record, they cannot be reversed. Consequently, businesses no longer need to wrestle with drawn-out, expensive chargeback processes.

Adopting crypto assets also offers a broader customer outreach. By bypassing traditional financial institutions, businesses can access the 1.7 billion unbanked population globally, as well as the 1.2 million unbanked individuals in the UK. Allowing for crypto asset payment also caters to the growing population of crypto asset enthusiasts,  granting a unique selling proposition amidst a competitive market.

Moreover, due to the borderless nature of crypto assets, such transactions do not require conventional currency conversions and can be sent to or from anyone in the world with a smart device and internet connection. This makes crypto assets an ideal form of payment for businesses that wish to expand their operations into new jurisdictions, without the usual friction points involved in optimising cross border payments.

What are the challenges for businesses?

Whilst there are a number of advantages for businesses, integrating crypto assets as a form of payment is not without its risks. One such risk comes from the fact that crypto assets are extremely volatile, and it is not unheard of to have massive fluctuations in a crypto assets value over a relatively small time frame of days and hours. This volatility can present challenges for businesses in being able to predict how much it will generate from crypto asset payments, and it can also expose the business to losses if the value of its crypto assets falls. In the same vein, it can also present opportunities for gains if there is an increase in the price action of a crypto asset.

For example, a retailer may sell an item for 0.035 Bitcoin (BTC), which at the time of writing is around £766. In the days after the sale the value Bitcoin may increase, such that 0.035 BTC is now worth £800. On the flipside, the value of BTC may decrease, such that the 0.035 BTC is now worth £735.

Another challenge is security. Whilst crypto assets are secured utilising complex cryptographic algorithms, they aren’t invincible against cyberattacks, phishing or fraudulent schemes. Thus, businesses using crypto assets need to be proactive in establishing robust cybersecurity defences and countermeasure procedures.

The developing regulatory environment around cryptocurrencies presents another challenge. As the legislative and regulatory landscape is still maturing, businesses adopting crypto assets as a form of payment may need to comply with unforeseen regulatory requirements and make an effort to stay informed of ongoing developments in this area.

However, with diligent planning and careful strategies, these challenges and risks can be substantially offset and mitigated.

What must businesses consider?

For businesses considering crypto asset integration, an effective policy and strategy should take into account the specific nature and operation of the business, its goods/services, geographical scope, and clientele. Particular consideration should be given the following points:

  • Choice of crypto assets: Given the plethora of cryptocurrencies available, it is important to consider which crypto assets in particular should be allowed to facilitate payment for the business. Important points to consider here would be the crypto assets stability, liquidity, popularity, and confirmation times.
  • Payment processing: It may be worth trying an external payment processor who can simplify the process of crypto asset acceptance, albeit at a cost. Alternatively, it is entirely possible to set up your own crypto payment processing system, but will require some technological expertise and knowledge.
  • Formulating guidelines: Businesses adopting crypto assets should have defined guidelines addressing transaction disputes, and refund mechanisms. There should also be procedures in place for handling price volatility, for example, through stablecoins or immediate fiat conversion upon receipt.
  • Continuous transaction oversight: Businesses allowing crypto asset payments will need need to be able to track, record, and report transactions for tax compliance. Crypto assets are taxable, and businesses will need to consider whether they choose to hold crypto assets on their balance sheet as an asset, or if they would rather liquidate the crypto assets to fiat upon receipt or at regular intervals.
  • Selecting an appropriate digital wallet: Considering the scale of operations, anticipated crypto holdings, and security requirements is vital when choosing a digital wallet. There are a variety of different wallets including cold wallets, hot wallets, custodial wallets, non-custodial wallets, multi-sig wallets and many other variations. It is important for businesses to choose a wallet which is compatible with their needs, and which they are confident with and able to keep secure.

How Lawrence Stephens can assist with your crypto challenges

While venturing into the world of crypto assets does bring its set of challenges and intricacies, the potential benefits are substantial. As with any business decision, prudent planning, accompanied by knowledgeable legal consultation, is key to ensure regulatory compliance and adept risk management.

At Lawrence Stephens, our team is adept at assisting diverse businesses in harnessing the potential of crypto assets. With our bespoke legal insights, we ensure your cryptocurrency adoption journey is seamless, safeguarded, and aligned with the developing digital finance sector.