IT and crypto

Benov, Vasilev & Natskov Law Firm has a strong focus on information and communication technologies. We offer professional competence and in-depth knowledge in the sector, and our consultations in the field include protection of intellectual property, legal regime of data protection and traffic, consulting on project financing, mergers and acquisitions between companies in the sector. Our law firm provides full legal assistance to various software companies in organizing their entire work process by offering a wide range of legal assistance.

Another aspect of the work of Benov, Vasilev & Natskov Law Firm related to new technologies is the legal regime and regulation of blockchain technologies, and in particular the cryptocurrencies related to them and their growing popularity. Although they have existed for more than 12 years now, cryptocurrencies remain unknown to much of the public, and it is too early to talk about state or supranational regulation. However, public interest in cryptocurrencies (the best known of which are Bitcoin and Ethereum) has recently increased dramatically as many industries explore how to take advantage of the new technology and the opportunities it offers. The increase of public interest in this matter leads to the emergence of new applications for cryptocurrencies and platforms for trading with them, which is invariably associated with the emergence of relevant legal obligations and problems. The legal aspects of cryptocurrencies can be summarized as follows:

  • Contractual problems (mainly concerning the so-called “smart contracts”) – related to the direct implementation of cryptocurrencies (and blockchain technologies) in the performance of contractual obligations;
  • Misuse of personal data and financial fraud;
  • Money laundering;
  • Complications in the tax treating of cryptocurrencies;

The above legal challenges related to cryptocurrencies have become more evident and relevant in today’s modern society. Therefore, Benov, Vasilev & Natskov Law Firm strives to fully respond to the latest trends and to provide its clients with quality professional services in innovative areas such as blockchain technology.