The Letter makes clear that the time is now for a fintech sea-change. For fintech lawyers, this is not just a matter of doing what is right, it may also be a matter of self-preservation. Reading between the lines, The Letter puts fintech lawyers on notice that when things go south, lawyers could become perfect targets for culpability, including for malpractice…
The catastrophes and externalities related to blockchain technologies and crypto-asset investments are neither isolated nor are they growing pains of a nascent technology. They are the inevitable outcomes of a technology that is not built for purpose and will remain forever unsuitable as a foundation for large-scale economic activity. Given these vast externalities, together with the-at best still-ambiguous and at…