Cryptocurrency and blockchain are increasingly making the headlines, with a number of UK businesses now accepting this new form of money. This decentralized digital money system, which operates as virtual tokens, can be used to buy and sell goods or services. It has grown in popularity over recent years, with some estimates suggesting that 2.3 million people in the UK now own this currency.This link :b3i.tech/

However, this is still a highly volatile sector and those who operate in it must be aware of the changing regulatory landscape. In 2018, the Government launched the Cryptoasset Taskforce, which brings together HM Treasury, the Financial Conduct Authority and the Bank of England to coordinate the UK’s approach to regulating cryptoassets.

Understanding DAOs With UK-Based Blockchain Experts

The Taskforce has also published a series of consultations on how the law should evolve to reflect the growing use of cryptoassets in the UK, including proposals for new rules to protect investors. These changes are likely to impact the way that businesses operate and may force some to change their business models or rethink their business strategies.

Expert witness Paul Sibenik is a blockchain forensics and cryptocurrency tracing specialist, having conducted investigations in a variety of niche areas such as SIM hijacking, fraud, ransomware and pig butchering scams. His clients include the Home Office and police forces across the UK. He has advised on more than 150 cases, and his reports have been admitted in the High Court of Justice. He is a member of the ICAEW’s Digital Assets Working Group and sits on its sub-groups for DAOs, DeFi and NFTs.