Panel SA: Cryptocurrency boosts demand in the criminal area of ​​law firms

Law firms report an increase in client demand for cryptocurrency fraud solutions. The trend is seen as a new boom, in a heating that has not been felt in the criminal areas since Lava Jato.

The peculiarity of the new movement is the hiring of younger lawyers to work in the area, something unusual in criminal law.

The legal demands range from cases of companies with legitimate operations, which ended up involved in criminal investigations, to illicit situations and individuals who are victims of fraud, according to lawyers.

“Many clients have come to us to learn about regulatory aspects, the tax nature and the constitution of crypto assets”, says lawyer Thiago Sombra, partner in the crypto assets area at Mattos Filho.

Some firms say they have felt up to 30% in demand for services, such as Assy Advogados, according to partner Fadi Assy.

Without regulation, cryptocurrencies have become a substitute for crimes that normally used cash, such as money laundering and corruption.

The difficulty of tracking assets contributes to the practice. Despite the supposed anonymity, these assets are not confidential, says lawyer Armando Costa Neto, from Borlido e Costa Neto Advogados.

Demarest Advogados also noticed an increase in consultations with corporate clients to understand the limits of regular performance of companies in the cryptocurrency market, especially those that operate in the online services segment.

“Client demands include issues related to updating policies and procedures and monitoring regulatory developments for the sector, including updating the rules edited by authorities such as Coaf, CVM and BC”, says Fabio Braga, partner in the banking area of ​​the firm. .

Joana Cunha with Paulo Ricardo Martins and Gilmara Santos