CFAAR brings together experts to develop best practice for crypto disputes.
Osborne Clarke, together with some of the world’s leading names in crypto disputes and advisory - comprising lawyers, barristers, forensic accountants, corporate intelligence and asset recovery experts - has launched CFAAR: the ‘Crypto Fraud and Asset Recovery’ network, to develop and share best practice in the rapidly evolving sphere of crypto dispute resolution.
Together with CFAAR's other founder members, Osborne Clarke identified the need for the legal industry and its expert service providers to respond robustly and effectively in this nascent area and to provide a joined-up approach that provides victims of fraud with the best possible means of redress.
Crypto-related frauds, such as those involving cryptocurrency theft, initial coin offerings (ICOs) and ransomware attacks, continue to rise in scale and sophistication, the network's experience will help clients navigating disputes in these areas and will pioneer approaches to global crypto fraud investigations, forensics, advocacy and the tracing and recovery of cryptoassets.
CFAAR was founded with intention of providing an inclusive community that will host regular meetings, seminars, roundtables, conferences and social events to provide opportunities for developing skills, ideas and networks globally, as well as being an authoritative and independent voice in crypto-related judicial and regulatory reviews and consultations.
Working alongside the other founding members – Asset Reality, Essex Court Chambers, Grant Thornton, Rahman Ravelli, RPC, Stewarts and Twenty Essex – Osborne Clarke has brought together the experience and expertise necessary to drive forward the important development of this area.
Osborne Clarke has seen increased client discussion around the potential and actual impact of fraud in relation to cryptoassets, the difficulties in recovery, and the uncertainty around the appropriate legal avenues for redress in an area of law that is developing quickly.
Osborne Clarke has a hard-won reputation in the digital sector, advising tech-focused, disruptive firms and significant experience advising cryptocurrency platforms and other blockchain operators in relation to transformative technologies, including Blockchain, smart contracts, cryptocurrencies, NFTs and other digital assets which are fast gaining mainstream acceptance. Our international team includes lawyers with software development and Silicon Valley experience, and our significant experience helps clients embrace the cutting edge of legal and regulatory developments and respond effectively to the challenges of disputes and regulatory investigations in this area.
Nick Price notes that: "The law in relation to crypto-asset disputes is developing quickly and as consumer and institutional investment becomes mainstream, and the value of cryptoassets continues to rise, it is inevitable that complex disputes are going to arise. CFAAR brings together firms from all stages of disputes and recovery to help clients navigate the process and develop best practice in this difficult area."
An in-person launch event is planned in London for October 2021.
For those wanting to register their interest in becoming a member of CFAAR, please join its LinkedIn group "CFAAR – Crypto Fraud and Asset Recovery" by clicking here.