Understand Your Rights. Solve Your Legal Problems
Tesla has wowed fans and automobile aficionados again by announcing new features on its line of pioneer electric cars. Elon Musk, the co-founder and CEO of Tesla Inc., teased Tesla owners with the promise of full self-driving capabilities on their cars by August 2018 – and also casually mentioned that the upcoming Tesla Roadster 2020 might have rocket thrusters.
Tesla and SpaceX Partner Up again to Provide Roadster 2020 with Rocket Thrusters
These latest announcements come in the light of what has been described as one of the greatest advertisement stunts of all-time, when, in February 2018, Musk decided to send a Tesla Roadster (in fact, his very own Tesla Roadster) into space as a dummy load for his Falcon Heavy rocket, manufactured by his other company, SpaceX. The car was occupied by a mannequin dressed as an astronaut in the driver’s seat, affectionately called the Starman, and a copy of Douglas Adam’s The Hitchhiker’s Guide to the Galaxy was stashed away in the glove compartment.
SpaceX option package for new Tesla Roadster will include ~10 small rocket thrusters arranged seamlessly around car. These rocket engines dramatically improve acceleration, top speed, braking & cornering. Maybe they will even allow a Tesla to fly …
— Elon Musk (@elonmusk) 9 June 2018
Now, it seems that SpaceX and Tesla will work together once more, as Musk took to Twitter on June 10 to inform his 21.9 million followers that the new Roadster will come with a SpaceX option package that will include roughly 10 rocket thrusters placed around the car. The new feature is designed to help with speed, acceleration and braking – and Musk teased that it might even make a Tesla fly. The news made the company’s stock rise by 5%, along with the announcement, on that same day, that all Tesla cars will begin to acquire full self-driving features in August. In response to an owner’s complaint about the car’s Autopilot, Musk stated that the issues would be fixed with the latest Version 9 software update in August, which will also signal a move away from the Autopilot’s resources being focused into increasing security and towards full autonomy.
Musk Teases Full Self-Driving Features - But Consumers still Worry about Safety
However, in view of the latest accidents involving self-driving cars, consumers around the world continue to be concerned about their safety. 50% of consumers reluctant to try autonomous cars have stated that they “wouldn’t feel safe” as the primary reason for their skepticism, while 43% were afraid that the car would make mistakes and 23% were anxious that the car might be hacked. Online applications are routinely exposed to a variety of hacker attacks, including SQL injection, cross-site scripting (XSS) and remote file inclusion (RFI), against which they can get protected by cybersecurity tools like a web application firewall which filters incoming traffic. Yet, the software used to run autonomous cars will probably be targeted by very sophisticated attacks, which has made experts talk of a “weaponization” of self-driving vehicles.
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All Tesla cars come fully equipped with the hardware they need to achieve full autonomy when the company has developed the technology far enough – including being able to “see” around 360 degrees and up to 250 meters, thanks to cameras, radars and ultrasonics. Tesla, along with other AI enthusiasts, is insisting that self-driving will actually bring more safety on the streets, and Musk seems to feel like they have reached a good level of security and are ready to move onto the next step. The news about full self-driving features being released in August has made people rave about the new direction that driving is taking.
Owning a Tesla is certainly an exercise in luxury – and the company knows how to keep its clients satisfied and excited, be it with sending the car they drive into space or by bringing space rockets to their car.
Emerging market (EMs) currencies have been particularly volatile in 2018 due to the rise of the dollar, which has increased the cost of dollar-denominated debt and contributed to crises in Argentina, Turkey and Venezuela. These effects could soon spread to other EM currencies such as those used by Chile, Poland and Hungary, which all have a large amount of US debt. Meanwhile the future looks uncertain for the Chinese renminbi and Russian ruble, which are at risk from the effects of Trump’s ‘trade war’ and international sanctions respectively.
With so much potential for volatility, forex trading provider IG is taking a look at what the next 12 months could hold for currency pairs including USD/CNH, EUR/RUB and USD/TRY. The firm’s presenter Sara Walker will be speaking with professional trader Paul Bratby to discuss a broad range of related topics, including:
There will be a live Q&A during the session, so viewers can put forward any topics they’d like Paul to discuss, or any questions they want answered. They can post questions to the #IGForexChat Community page, or by using #IGForexChat on Twitter or Facebook.
To watch the live video stream, tune in at 6.30pm (UK time) on Thursday 1 November via IG’s trading platform, or the company’s YouTube, Facebook or Twitter pages. For more information, please contact Irene Castaneda (irene.castaneda@ig.com).
About IG: IG empowers informed, decisive, adventurous people to access opportunities in over 15,000 financial markets. With a strong focus on innovation and technology, the company puts client needs at the heart of everything it does.
IG’s vision is to be a global leader in retail trading and investments. Established in 1974 as the world’s first financial spread betting firm, it continued leading the way by launching the world’s first online and iPhone trading services.
IG is now an award-winning, multi-platform trading company, the world’s No.1 provider of CFDs* and a global leader in forex. It provides leveraged services with negative balance protection, and offers an execution-only share dealing service in the UK, Australia, Germany, France, Ireland, Austria and the Netherlands. IG has recently launched a range of affordable, fully managed investment portfolios, to provide a comprehensive offering to investors and active traders.
It is a member of the FTSE 250, with offices across Europe, Africa, Asia-Pacific and the Middle East – plus the US, where it offers on-exchange limited risk derivatives via the Nadex brand.
Risk warning: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
* Based on revenue excluding FX (published financial statements, February 2018).
Credit reporting agencies, also termed credit bureaus, collect all of an individual’s credit information, so it’s important for everyone to know how they work, including their relationship with the law. Consumer credit history reports and scores are both important, so you’ll want to ensure that you have the right facts.
Lenders access three primary credit bureaus when pulling and reviewing your credit reports: Equifax, Experian, and TransUnion. There are a large number of CRAs in addition to these three credit reporting agencies.
There remains much confusion, however, with regards to what these credit bureaus do. What kind of data do they collect? How can you view your credit score? And more significantly, what is the relationship between credit score and the law? Let’s attempt to answer these questions here.
What data do credit bureaus collect?
Credit reports include data on any credit accounts you currently have, in addition to your credit history from a number of financial institutions that include banks, credit cards companies, mortgage companies, and any other lenders you have previously dealt with.
Other companies, such as electricity and telephone companies, may also provide information to credit reporting agencies. However, such non-lending companies only tend to report negative information, such as delinquent payments or an account sent to collections.
The main credit reporting agencies collect a wealth of data, but there are only five primary factors that are typically used in calculating your credit score when you’re seeking a loan or credit. These factors are the number of hard enquiries made, the duration of your credit, your debt, the types of accounts on your file, and your payment history.
How to view your credit report
You are entitled to one free credit report from each of the bureaus per year. If you would like to view your score at any other time, they will provide it to you for a fee.
Experian and Equifax offer credit files that include each of the three primary credit reports on one page.
While the three main bureaus will charge you for viewing your personal credit score more than once, there are other companies, such as Fundbox, that will provide you with a free business credit score. Many other firms, however, will charge you as they aren't legally obliged to offer you a free annual business credit score, as is the case with personal credit scores.
Fair Credit Reporting Act
The Fair Credit Reporting Act (FCA) is Federal Government Legislation that is designed to promote privacy, fairness, and accuracy of consumer data in credit agencies files.
Among the main concerns regarding the act is how agencies use the data they are collecting on a consumers’ credit history. The aim of the Act is to protect consumers from misinformation.
It’s wise to properly review your reports from each of the three credit reporting agencies for the small details that influence your credit scores and to keep an eye on your scores for sudden changes, as they can indicate identity theft.
By knowing your score, you will gain a better understanding of the kinds of terms and conditions you could qualify for on any loans or lines of credit. Also, understanding what each agency does gives you an advantage with regards to your rights as well as the security of your accounts with all three bureaus.
Russian traders and investors in cryptocurrencies have been waiting with baited breath for many months for the Russian government to regulate its cryptocurrency industry. While leading banks and financial institutions in Russia have voiced their willingness to work with cryptocurrencies – due largely to increased demand from Russian investors – the government has opted to remove all mention of ‘cryptocurrency’ terminology from its legal documentation.
Plans to implement a regulatory framework for cryptocurrencies in Russia have been put on the back burner for some time now. The framework was originally scheduled for adoption in July when three bills were submitted in the State Duma, Russia’s lower house of parliament, as ordered by President Putin. Nevertheless, government deputies battled in vain to synchronise and combine the draft bills into a unified piece of legislation.
Russian lawmakers have instead confirmed that a revised framework for “digital financial assets” will be unveiled for public discussion later in the autumn, with the aim of securing regulatory adoption by the end of 2018 for Russia’s crypto investors. The term ‘cryptocurrency’ has presented plenty of headaches for lawyers, who’ve been recently attempting to create new legal definitions for the industry in Russia. According to Izvestia, a daily broadsheet in Russia which claims to have seen the latest version of the government’s draft bill, they have sought to remove the mention of cryptocurrency altogether.
Instead, the draft describes cryptocurrency as the issuance of digital tokens designed to attract capital investments; a definition that looks well-aligned to that of initial coin offerings (ICOs). The government has been under increasing pressure to provide a regulatory framework since a group of Russia’s largest business enterprises – the Russian Union of Industrialists and Entrepreneurs (RUIE) – published an ‘alternative bill’ granting “special status” to cryptocurrency. Russians will continue to buy and sell cryptocurrency regardless. There is an ever-increasing option of trading platforms and a great choice of options to deposit into cryptocurrency exchanges too. It's not just Bitcoin that alternative deposit methods favour either. For those looking to buy Ethereum PayPal is now a legitimate option, removing the need for a traditional bank account to be involved with buying and selling these digital assets.
Russia-based cryptocurrency enthusiasts can even exchange crypto coins for the nation’s fiat currency, the ruble, and receive funds direct to their bank accounts and their cryptocurrency and fiat e-wallets. The service called Best Change now allows Russian investors to get the best possible exchange rate for their digital assets by listing the verified online exchanges capable of accepting the desired transaction.
The Federal Financial Monitoring Service of Russia commissioned an analytical tool designed to provide a clear overview of all crypto transactions completed, with a primary focus on Bitcoin. It is clear that the Russian government has been keen to gain a greater understanding of the crypto landscape for some time. By the end of this year, it is hoped the tool will be active, with the ability to store data on specific Bitcoin transactions and the wallet addresses of those sending and receiving digital assets. The Russian government hopes the tool will help to counter financial fraud in a more effective manner.
In the day and age of the influencer, the Instagram famous and the bedroom earner, there’s never been a better time to find a side hustle that can reap in the rewards for little work you wouldn’t be doing anyway. Advising people on ways to make extra money can be difficult, but there are plenty of legal ways to bring in extra income that makes it easy to generate extra change.
Source: @thedrum via Twitter
Influencer Partnerships
Influencer partnerships work on Instagram and to a lesser extent Twitter and Facebook to promote a post featuring you, that also features a product as per a brief from a brand. For example, an influencer, such as Scarlett London, may post their morning routine gleaming with perfection to advertise that they use a certain mouthwash to assist in making their routine so perfect. The brands pay for the partnership to be featured on the influencer’s channel. Brands choose those who are likely to gain the natural exposure through high follower counts, but also lesser follower counts if the influencer is for something niche that would result in high traffic to the brand’s page.
Affiliate Programs
Affiliate programs work to leverage your digital presence and the power of strong brands to result in a mutually beneficial partnership. Affiliate programs are often free, such as the Mr Green affiliate program, which adds benefit to a website through the banners and adverts placed on it. Financially, the affiliate program pays a percentage of the revenue made from players. Affiliate programs work by sending traffic from one site to another, usually with a common link that would be useful to browsers on the first site.
Source: @whatkatie_did via Twitter
Funding Creativity
Paying for creative works is often seen as an oversight, but given how much we consume in the world that is creative and from the minds of cash-strapped creatives, it’s only right that they earn money from it. Patreon and similar sites offer ways in which poets, writers, artists, designers etc. can be compensated for the work they do. If they build up a big enough following, they can have monthly subscribers or just one-off sales. By offering ways that work can pay that don’t involve charging for hourly labour means that different avenues into otherwise difficult to break into industries can be opened.
Referral Codes
Similar to the way influencers work, referral codes utilise the concept of affiliate partnerships to leverage a social media account of someone with something to say about a topic to drive traffic with a discount code to a site that connects to them. Usually revolving around the health and fitness industries, referral codes can be used by anything from clothing to beauty to services.
Finding ways of earning money legally that can be done alongside hectic jobs and busy lives to free up some spending money is even easier in 2018 than it has ever been. Utilising assets that we take for granted - such as popular websites or social media channels - can end up being a nice little earner that we would have populated with content anyway.
In terms of talent, assets and market capitalization, there are currently only three cities on Earth right now that could legitimately lay claim to being a global financial capital; New York, London and Tokyo. Combined, these three make up a significant chunk of all global trading and capital flows, and have been respectively dubbed the three "command centres of the world economy".
With the ancient City of London having played a leading role in global finance for hundreds of years, New York's Wall Street continuing to exert influence on every corner of the globe, and Tokyo's Marunouchi district being the epicentre of Asian capital flows, it's hard to see these places losing prime position any time soon. However, the sands are indeed shifting, and cities that have long had considerable financial clout on the world stage are moving up the rankings, and could very likely dislodge the Big Three before the next decade is over. Here are three emerging financial centres to watch out for in 2019.
Shanghai
Source: Pixabay
Even the most passive observer of global affairs will have witnessed the not-so-gradual shifting of the global centre of gravity towards East Asia over the past decade. China is set to become the world's largest and most powerful economy by 2050, and the booming cosmopolitan city of Shanghai already dominates China's increasingly open financial sector, with the capital Beijing trailing far, far behind. Much of the financial sector is centred around the sprawling Pudong district of Shanghai, where you'll find such icons as the Oriental Pearl Tower and the Shanghai Tower, Asia's tallest building and home to Alibaba, one of the world's largest retail and technology giants. Shanghai is fast rising through the ranks and it is already vying with Hong Kong for supremacy in the region.
Frankfurt
Source: Picabay
Frankfurt, perched on the River Main, and known locally as "Bankfurt" for pretty obvious reasons and "Mainhattan" due to the skyscrapers which crowd the financial district, is already home to the European Central Bank (ECB) and, of course, Deutsche Bank, one of the largest financial institutions on the planet. Frankfurt has always been a magnet for global finance and, like London, is well-located for those looking to trade forex on the global market, given how it overlaps with many other timezones. It is generally known for little else other than that, having long suffered from an undeserved reputation for being a dull city. Out of all other major EU cities, Frankfurt looks set to benefit the most from the mass relocation of financial bodies after Brexit, a boost which could catapult the German city into the top ranks.
Dublin
Source: Pixabay
Much like our previous entrant, Dublin has much to gain from London's loss. The Irish capital is already on a winning streak having risen through the ranks considerably in recent years but, thanks to a shared language and long-standing links with British and American financial companies, Dublin is set for a massive windfall in the years ahead. Beyond this, low taxes (apart from a 20% bonus cap which might deter many bankers) and a high quality of life also make the city a magnet for financial elites.
The Big Three have been the epicentres of global finance for the past century but, with New York suffering from American trade wars, Tokyo sliding down the rankings due to stagnation, and London staring down the barrel of Brexit, a lot of change lies ahead.
When it comes to the glorious British summertime, which does not come around as much as it should, we tend to extract every second of value out of those precious daylight hours, and sun-starved Brits often throw caution to the wind in an effort to soak up those rays. Our collective over-excitement when the sun makes an appearance is also having a detrimental impact on our health; alongside dehydration and skin damage, research from the Royal National Institute for Blind People has shown that eye damage is one of the number one health problems which arise regularly every summer.
People regularly fail to take proper care of their eye health during the summer, when bright sunlight for long stretches of the day can take a heavy toll on our eyes. Furthermore, this is often compounded for those working in an office environment, who will also be staring at their computer screens when they're not out in the sun. Here are some top tips for maintaining your eye health all summer long.
Pick Up Good Habits
During the summer months, protecting your general health is about so much more than just changing what you eat or how you excercise. There's plenty of simple tips and tricks which you can easily build into your workflow in order to take the strain off your precious mind and body. It's now known that your average office worker will spend a grand total of 11 hours a day staring at screens, leading to an effect on various aspects of your health - from mental, diet, and eye health in particular.
Long days in the office can be counteractacted by building in regular breaks away from the screen, health experts recommend a 10-minute break every half an hour. as well as fighting your instincts to drink in the sunny views and close the blinds to reduce glare on your screen. This is believed to be a leading cause of dry eyeball and cornea damage.
Protect Yourself
Continuing on the theme of eye health, proper protection is key. If you're planning on spending plenty of time in the sun, make sure you have strong, UV-repellant sunglasses, and wear a visor or sun hat which affords appropriate shade cover for your face. When you're in the office, you should always be wearing high-quality contact lenses if needed, with a huge range for every prescription being sold on Vision Direct. You should also make sure that you're avoiding cheap sunglasses and checking that the ones you're wearing are right for you if they're prescription ones, so check with an optician beforehand.
Get Checked
One of the most important ways to maintain eye health is to get regularly seen by a professional. Summer is the best time to schedule in a visit with the optician to make sure your prescription is up to date, and to head to an optometrist to ensure that you're currently taking the right levels of precaution. You only ever get one pair of eyes, so make sure you're taking as much care of them as you would any other part of your body!
Lately, online gaming has been dominating the discussion across several sectors of the economy, as it has evolved from a relatively small market a couple of decades ago to a booming industry that encompasses millions of players worldwide. Online casinos have also expanded their reach by appealing not only to traditional gamblers looking to play poker or roulette online, but also to a wide range of seasoned and amateur players alike with simpler but equally exciting games like online slots. As regulators rush to get ahead of developments, will lawyers discover that it is time to tap into these rising markets like other professionals have?
The Online Gambling Industry
It certainly looks like there is a lot of potential into these sectors still. Brick and mortar casinos have been around for ages, but their online counterparts are a relatively more recent addition to the game. They have quickly drawn people in thanks to the convenience they offer: it is simply easier to gamble from the comfort of your home, any time you want, while the variety of games available is extremely wide. Anything from keno and baccarat to classics like blackjack, craps or dice are available to online gamblers.
There are many online casinos operating in the UK and there is a regulatory framework that they need to comply with. Its complexity, along with the many online providers active in the field, offers a prime opportunity for lawyers who want to specialise in gambling law. When it comes to how the authorities regulate the field, the UK might have a thing or two to learn from other jurisdictions around the globe that also share some elements of our legal culture. For example, according to the legal status of online gambling in Canada, the provincial governments are authorised to operate computer-based gambling – which has led to many of them launching their own online casinos and poker websites. This is an interesting approach that could be discussed in the UK context, too – and would also lead to an increased need for legal expertise.
eSports as a Rising Market for Lawyers
eSports is also a growing market that is in dire need of specialised legal counsels. US firms have begun setting up dedicated eSports practices, responding to the need for lawyers in the industry. Legal issues within eSports gaming, where players compete with each other in specific video games to claim hefty prizes, range from labour law issues to intellectual property and contracts. In 2018 alone, the eSports market is set to reach more than $900 million in profit, while 77% of this revenue will come from advertising, media rights, sponsorships and similar fields, where having a lawyer by your side is fundamental.
Since eSports are followed by millions of people across the globe – just look at the numbers behind Twitch, the most popular online gaming streaming service – the market is certainly not going anywhere any time soon. In fact, gambling issues might arise within eSports, too. While competitive gaming is primarily skill-based, there is a growing market for eSports betting that is doing amazingly well lately. This means that combining the two fields might not be so far into the future as we might think.
In a world where the internet and new technologies dominate, so must lawyers adapt and find new, challenging markets that need their legal expertise.
In May of 2018, a landmark decision was reached by the US Supreme Court, which passed a ruling to remove federal restrictions on sports betting that was brought into effect by Congress in 1992. The state of New Jersey led the legal battle for the Professional and Amateur Sports Protection Act (PASPA) to be repealed, paving the way for each individual state throughout the country to implement and control their own legislation to regulate sports betting, as they see fit.
“Congress can regulate sports gambling directly, but if it elects not to do so, each State is free to act on its own,” Justice Samuel A. Alito Jr. wrote for the 6-3 court majority, once the final verdict had been reached and in a statement highlighted by the Washington Post. “Our job is to interpret the law Congress has enacted and decided whether it is consistent with the Constitution. PASPA is not,” he concluded, observing that the law had violated New Jersey’s 10th Amendment rights.
Image Source: @wkyc via Twitter
Following the ruling, New Jersey has moved quickly to legalize gambling at racetracks and casinos in the state, with much of the infrastructure and legislation already in place. Meanwhile, other states around the country are expected to quickly follow suit, as the online gambling industry braces itself for a flood of what will now be legal online wagering.
All four of the major US professional sports leagues which control American football, hockey, basketball and baseball – NFL, NHL, NBA and MLB – had strongly opposed PASPA being repealed, claiming that any expansion or change in gambling laws could potentially harm the integrity of their sports. However, some were apparently more open to changes outside the courts, given the potential revenue streams that have benefitted sports such as soccer, particularly in Europe, through lucrative sponsorship and endorsement deals with the online betting industry.
Interestingly, according to a recent report in The Guardian, The American Gaming Association have estimated that around $150 billion each year has been illegally wagered on sports each year, despite PASPA being enforced by Congress since 1992. However, with these numbers set to soar and amidst fears that problem gambling could also spike, most sports betting sites and online casinos already advocate responsible gambling, with guidelines highlighting that bettors should always play for fun rather than to win money.
Image Source: @AVIXA via Twitter
How quickly each of the different states adapts to the Supreme Court ruling will depend on a number of factors, according to a list published by USA Today. Beyond the preparedness of New Jersey, legal mechanisms are apparently already in place in the West Virginia, Delaware and Mississippi. California, New York, Illinois and Michigan, amongst several others, where sports betting bills are pending.
Elsewhere, legislation needs to be drafted and proposed, while infrastructure also needs to be implemented, although many states are likely to follow the examples and the leads established by their neighbours. As such, fully legalized gambling should be commonplace throughout the USA within the next two to three years, at current estimates.
Should crypto law be the next frontier for aspiring lawyers and legal types? As blockchain technology makes its presence felt in more areas of the finance, banking and tech world at large, the need for regulation is growing. At this stage, legislation is piecemeal at best. As per CNBC’s 2018 guide to crypto laws around the world, Bitcoin and its peers are considered everything from legal tender to a ticking time bomb. With the regulatory landscape still finding its level, anyone looking to specialise in this emerging sector would have to keep abreast of the ever-changing dynamics.
Despite the air of uncertainty, investments in crypto-based start-ups are increasing. Reviewing the market, TechCrunch noted that fundraising for crypto companies is up by 40% in 2018. In line with this increased interest from venture capitalists, investment bank NKB published a report on Cardano in June 2018. Designed to be as much of regulatory exercise as a review of Cardano, the report took NKB’s “standard procedures from traditional finance” and applied them to the “newly developing crypto economy”.
Applying Financial Regulations to Emerging Technology
What’s interesting about the report is that Cardano isn’t a marquee cryptocurrency. Recently added to the eToro trading platform, Cardano coin (ADA) is currently trading at 0.1592 (at the time of writing), which is significantly lower than the 6590.85 BTC was trading at on the same day. The fact investment banks are now considering less well-established blockchains like Cardano is clearly a sign of the times. While politicians have been busy arguing over the legality of the market leader Bitcoin, those with an interest in the financial side of things have taken broader strokes.
For those in the legal sector, this clearly throws up some interesting opportunities. The problem, however, is how will all of this promise manifest itself in reality. Regulating the financial world is tough enough on its own. In the UK, the Financial Services and Markets Act 2000 (FSMA) forms the foundation of the banking sector’s regulations. However, because the UK is still part of the European Economic Area (EEA), there is a slew of European Union regulations that run parallel to the FSMA. For example, banks and investment companies must abide by (EU) 596/2014 on market abuse as well as (EU) 648/2012 which sets out guidelines for trading OTC derivatives.
A Tough Task for All Concerned
"Grimes County Courthouse, Anderson, Texa" (CC BY 2.0) by Patrick Feller
What the current landscape shows it that regulating financial companies isn’t easy, especially when they trade in multiple jurisdictions. Even with clearly defined currency lines, the matrix of clauses and subclauses is extensive. When you try to apply a similar methodology to the crypto world, you instantly run into the issue of universality. At its core, all coins are designed to be universal. Indeed, one of the founding principles was that it offered cross-border payments. Then, on top of this, you have the issue of anonymity. Although investment firms are currently more interested in the blockchain side of cryptocurrencies, the dynamic is still in place. This, again, makes establishing a set of laws difficult.
Finally, there’s the issue of national attitudes. While every country can agree that fiat currencies are useful, not all of them have the same stance on cryptocurrencies. How would a law applicable in a pro-crypto country apply to a non-crypto country? Coming up with a solution to these issues and more clearly won’t be easy. For the aspiring lawyer, this makes specialising in cryptos a tough gig. Although it’s clearly not an impossible task, it’s one that’s almost impossible at the moment. As the industry grows and evolves, things will undoubtedly find their way. However, as it stands, the regulatory path for the crypto world is anything but clear.
