Cryptocurrency Protocol Advisory

The unprecedented growth of virtual currency continues to be a disruptive and transformative force in altering the nature of how the world does business.  

As a powerful and dynamic emergent technology, it has continued to fuel innovations in the financial landscape – which, in effect, has likewise caused an upsurge in unfamiliar and often complex legal issues.

If you’re planning to allocate capital in the cryptocurrency market, make sure you are backed by competent legal advisors who are well-equipped to provide sound, solid, and skillful guidance on how to navigate the new economy with ease and confidence.

Navigating the New Economy in the New Normal

With the rapid growth of cryptocurrency in all its various alternatives, advisors are required to be well-versed and up-to-date on the rules and regulations that influence ongoing developments in blockchain technology, as well as the legal boundaries that surround the trading and investment of digital currency.

Veritas Global’s expertise is founded on a deep understanding of the Bitcoin and Ethereum protocols –including the layer two solutions that are built on top of the Ethereum blockchain for improved performance and scalability.

Acting as cryptocurrency protocol advisors to top management and C-suite executives since 2017, our lawyers are backed by extensive experience in working with some of the most established blockchain projects and teams in this vibrant and rapidly evolving industry.

This provides us with performance-based proficiency in actively advising and assisting company board members and chief executives, as well as other key members of the management team, from pre-implementation planning to the operational stages of their business structure and execution strategies. 

We also complement our strategic legal analysis by taking the initiative to understand the implications of specific blockchain protocol structures, code base, dependencies, and external risks in order to help our clients to rise above potential challenges and successfully ride the wave of today’s flourishing digital economy.

Is it as cryptic as it sounds?

In its plainest definition, cryptocurrency is simply a digital representation of value—be it money, art, real estate or a share of stock. It can be a medium of exchange, except that there are no coins or notes to circulate as it exists exclusively online.

Given these dynamic properties you can buy it. You can earn it. You can save it. You can spend it. You can send and receive it.

On an everyday consumer level, some people use cryptocurrency to pay for basic goods and services, or as a quick and easy way to remit funds without incurring handling fees, even for cross-border transactions. Other people or firms use cryptocurrency as a reserve asset to protect their purchasing power—particularly in the case of Bitcoin.

Cryptocurrency also provides a “censorship-resistant alternative store of wealth” since it is largely unregulated and decentralized. A digital wallet can only be accessed by its owner and can never be seized by authorities. As a medium of exchange, digital money gets transferred directly between two parties who are connected only by a blockchain record that remains unalterable and usually untraceable.

However, the Federal Trade Commission reminds consumers that “the fact that cryptocurrencies are digital is not the only important difference between cryptocurrencies and traditional currencies like U.S. dollars.”

Unlike money in traditional banks, cryptocurrencies are not insured by the government and do not enjoy the same protection as bank accounts. Similarly, cryptocurrency payments are typically not reversible and without inherent legal protection, there is no process for disputing a transaction.

Not surprisingly, when the “consumer” morphs into an entire corporate entity, things get a bit more complicated. That’s why we have made it our job to assist clients in traversing the financial and legal landscapes of the digital frontier.

Find your way around emerging markets

It is a common belief that cryptocurrency is a high-risk investment since it can be highly volatile and its value can change in an instant.

However, with ample knowledge and foresight, cryptocurrency can be managed prudently and invested in groundbreaking startup ventures. With the advent of crypto-based fundraising, the playing field has been opened for early-stage investment in decentralized business models – a trend that is believed to become more and more commonplace in the near future.

Veritas Global takes a holistic approach to identifying and overseeing our clients’ present and future cryptocurrency needs. Rather than aiming for simplistic solutions and managing the problem from a myopic legal perspective, our primary goal is to assist clients in anticipating the over-all business impact of their short, medium, and long-term decisions in capitalizing on their digital assets, particularly in the emerging crypto market.

Cryptocurrency protocol advisory matters we specialize in include:

  • Corporate governance analysis, planning, and structuring
  • Board of Directors, Advisory Board, and Sub-Committee planning and structuring
  • Board of Director and Sub-Committee best practices
  • Fiduciary duty analysis and review
  • Structural matters related to the protocol, business model, and intellectual property licensing
  • Crisis management and community stakeholder communication