Big Moves in Blockchain Law
On November 6, the international law firm Perkins Coie (PC) announced a significant addition to its Blockchain Technology & Digital Currency group. Kari Larsen, a former counsel of the Commodity Futures Trading Commission (CFTC), is joining the firm to bring her wealth of experience in the realms of commodities and cryptocurrency.
Kari Larsen’s Role and Expertise
Larsen’s journey through the Division of Enforcement at the CFTC has equipped her with unique insights into the intricate web of laws governing digital assets. She is expected to leverage her extensive background to help clients navigate the evolving legal landscape surrounding blockchain technology.
“I’m confident that Kari has a true understanding of the impact that blockchain and crypto will have on our industry,” stated Molly Moynihan, co-chair of Perkins Coie’s investment management practice.
A Growing Need for Legal Guidance
The timing of this hire couldn’t be more pertinent. As the market gears up for the launch of innovative offerings targeting institutional investors, the demand for expert legal advice on cryptocurrency handling continues to soar. In particular, the expected launch of the Intercontinental Exchange’s Bakkt platform on December 12, set to offer one-day physical Bitcoin futures, highlights the urgency for compliant and strategic legal frameworks.
Current Market Climate
The latest discussions around regulatory clarity indicate that the road ahead is complex. For instance, the U.S. Chicago Board Options Exchange (CBOE) recently reported record volatility lows in their BTC futures offerings for October, emphasizing that the current climate is both challenging and ripe for transformation.
Looking Ahead
With Larsen joining the team, Perkins Coie’s Blockchain Technology & Digital Currency group is well-positioned to lead clients through the increasingly convoluted waters of cryptocurrency regulation. As blockchain continues to disrupt traditional financial systems, firms like Perkins Coie are poised to play a pivotal role in navigating this digital frontier.
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