Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 04 AUGUST 2022

"New Technology Does Not Change Old Risks" – Why The Crypto Industry Needs A Regulatory Framework To Realise Its Full Potential

Lewis Silkin
Lewis Silkin
Contributor
Lewis Silkin

Lewis Silkin

Joint managing partners: Jo Farmer, Richard Miskella International offices: Dublin, Hong Kong...

View firm profile
Explore more from Lewis Silkin

Sir Jon Cunliffe, BoE Deputy Governor, Financial Stability, commented in a recent speech on the latest developments in the crypto market and his conclusions from the so-called "crypto-winter".

United KingdomTechnology
Wendy Saunders
Wendy Saunders
Author LinkedIn connections

Sir Jon Cunliffe, BoE Deputy Governor, Financial Stability, commented in a recent speech 1 on the latest developments in the crypto market and his conclusions from the so-called "crypto-winter".

"Crypto-winter" is the term used by experts to describe the recent instability in the crypto markets, marked in particular by the 70 per cent drop in the value since November of the best-known digital asset, bitcoin. This collapse of valuation also led to a number of failures of crypto related firms, first and foremost one of the big Singaporean players Three Arrows Capital.

Cunliffe draws the following conclusions from these developments, which he believes will be relevant to both regulators and those involved in the crypto market over the next few years:

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

The UK Cyber Security And Resilience Bill: What You Need To Know

The UK Government has introduced the Cyber Security and Resilience Bill to address critical gaps in existing cyber security regulations, expanding coverage to data centres, managed service providers, and critical suppliers while granting regulators enhanced enforcement powers. With tightened incident reporting deadlines, turnover-based penalties up to £17 million, and mandatory supply chain resilience measures, organisations across essential services sectors must assess their readiness for compliance
United KingdomTechnology
Browne Jacobson LLP
Browne Jacobson LLP
Article

EDPB统一DPIA模板落地：欧盟数据合规正从“程序评估”走向“设计问责”

The European Data Protection Board has released a unified DPIA template for public consultation, marking a significant shift from fragmented national practices to coordinatead EU-wide compliance. This standardization effort aims to transform data protection impact assessments from procedural documents into substantive design accountability tools, requiring organizations to demonstrate not just that they conducted assessments, but that their processing activities can withstand rigorous evaluation.
European UnionTechnology
Jincheng Tongda & Neal
Jincheng Tongda & Neal
Article

EU Cyber Resilience Act: First Reporting Obligations Take Effect Today

The EU Cyber Resilience Act introduces mandatory reporting obligations for manufacturers of digital products starting September 11, 2026. What vulnerabilities and incidents must be reported, how quickly must notifications be made, and what are the consequences for non-compliance? Understanding these requirements is crucial for manufacturers and their customers as the regulatory landscape for cybersecurity evolves.
European UnionTechnology
Slaughter and May
Slaughter and May
Article

Revised Earned Settlement Policy To Be Unveiled Before The End Of 2026

The UK Home Secretary has confirmed that the revised earned settlement policy will be published before the end of 2026, following her appearance before the Home Affairs Committee. This announcement provides clarity on the timeline for implementing significant changes to the UK immigration system, including transitional arrangements and the extension of the default settlement period from five to ten years.
United KingdomImmigration
Lewis Silkin
Lewis Silkin
Article

Game Developer And Publisher Battle Over Step In Rights

A High Court ruling examines a contentious dispute between a video game developer and publisher over milestone-based funding and "step in" rights for the first-person shooter Six Days in Fallujah. With over $50 million in development costs at stake and allegations of conspiracy to acquire proprietary source code, the court declined to grant either party interim control of the game's development, leaving both sides without the "keys to the kingdom" pending a full trial.
United KingdomLitigation, Mediation & Arbitration
Lewis Silkin
Lewis Silkin
Article

Hong Kong Cracks Down On Unpaid Wages With Director Sentencing

A Hong Kong director was sentenced to 120 hours of community service and ordered to pay HK$93,000 in outstanding wages after her companies failed to pay employees on time. The case demonstrates that corporate officers can face serious criminal liability, including fines up to HK$350,000 and three years' imprisonment, when employment law breaches occur with their consent, connivance, or neglect.
Hong KongEmployment and HR
Lewis Silkin
Lewis Silkin
Article

You're Owed Money. Now What? – A Practical Guide To Debt Recovery In Hong Kong

Hong Kong's debt recovery landscape has become increasingly challenging, with corporate insolvencies rising 45% in 2025 and bankruptcy petitions climbing to over 10,000. This comprehensive guide explores the legal pathways available to creditors, from initial demand letters to enforcement mechanisms, and examines when civil litigation versus insolvency proceedings may be the most effective strategy for recovering outstanding debts.
Hong KongInsolvency/Bankruptcy/Re-Structuring
Lewis Silkin
Lewis Silkin
Article

AI Judgment Day On The Horizon, While UK Lawmakers Play Catch Up

The UK remains without comprehensive AI legislation despite years of debate and promises. Now, a Private Member's Bill proposing to prohibit artificial superintelligence development has been introduced in Parliament, marking the most significant legislative move on AI safety to date. With recent incidents of AI agents breaking containment and warnings from AI researchers about extinction risks, pressure is mounting on the government to act.
United KingdomTechnology
Lewis Silkin
Lewis Silkin