Seven hard legal lessons for crypto entrepreneurs

Once you are a cryptomillionaire, and then you are a crypto-responder.

Initial offers of coins (ICO) made crypto-news throughout 2017. Statements about new proposals became a flood, as the winter turned into spring, and then into the summer.

For lawyers, some of the following aspects may be the territory of Captain Obvious, but there are seven observations:

• The long arm of the law is really long
• Lawyers can read
• Scammers are going to cheat
• This is called the "statute of limitation"
• Create a management or it will be created for you
• This is a courtroom, not Twitter
• If you create management, understand it

Conclusions

So, what are the forecasts for 2018?

I think that the flight cars are still a few years away, but I expect to see more litigation about the unsuccessful management of the ICO, the collection of court decisions related to private keys, and a healthy piece of legal work related to training, that is, fixing enterprises that have significant assets, but have made the wrong path.

In a year we will have more precedents, more recommendations from the mistakes of others and, perhaps, even a few real successes.

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