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A new coin of dilemma

Attorneys and executors must be wise to the limits of their powers when handling the digital assets of their donors

30 October 2015

It is striking to note how reliant I have become on my iPhone and tablet. More and more transactions involve the use of the internet, electronic communication and electronic devices. I know I am not alone in this position.

The days of an attorney being required to make a cash transaction, will, I predict, fast disappear over the coming years. With clients owning foreign assets and with the ever-changing exchange rates on foreign currency, will the electronic currency, the bitcoin, provide a global currency and solution to this problem?

I will leave this debate to the economists among us, but one thing is certain; the change is coming, and fast. These changes will affect how advisers deal with a person's lifetime affairs and their affairs on death.

The current landscape

Under the Computer Misuse Act 1990 (CMA...

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