Peter Smith shares his thoughts on digital asset disputes for Legal Community MENA
min readDigital assets have transformed the landscape of commerce, offering decentralised transactions and cross-border opportunities.
Peter Smith, Legal Director, shares insights on how to navigate the complex realm of digital asset disputes with Legal Community MENA.
From the evolving regulatory landscape to the intricacies of enforcement in arbitration, Peter sheds light on key considerations for organisations and legal professionals operating in this dynamic space.
See a snippet of the interview below:
What advice would you give to organisations and legal professionals navigating the landscape of digital asset disputes to ensure effective resolution?
The best advice is to take proper action when entering into the contract. Ensure you have proper contract documentation with detailed descriptions of obligations and allocations of risk. In the hopefully unlikely event that a dispute arises, get legal advice early on. A key question for legal advisors is the content of the dispute resolution clause. If you are the victim of fraud, or your assets are at risk of dissipation, interim measures like freezing orders may be effective. This might require litigation in foreign jurisdictions, which is why considerations as to enforcement should be taken into account at the outset of the matter, i.e. whether you would be able to enforce an award in the defendant’s jurisdiction, does that jurisdiction recognise or restrict the trading in digital assets, etc.
Read the full piece in Legal Community MENA here.
