Having had a number of enquiries over the past month from clients either looking to use or receive cryptocurrency in return for their services, or to create platforms where tokens can be issued in return for services or investment, the question of stability has never been far away. The recent price crash and issues affecting so-called stablecoins (the value of which is supposed to be pegged to a "real" currency) does raise the question of whether selling something of value in return for crypto is a good idea.
If reports are to believed, as well as in the US and EU, there may be moves afoot to bring some stability to the market which, although mainly aimed at consumers, may help to alleviate some of the concerns particularly in more mainstream businesses, as to whether crypto is a safe bet.Disclaimer
This information is for general information purposes only and does not constitute legal advice. It is recommended that specific professional advice is sought before acting on any of the information given. Please contact us for specific advice on your circumstances. © Shoosmiths LLP 2024.