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Keeping yourself safe in changing times – Bitcoin and other new initiatives

By Tracey Calvert, Oakalls Consultancy Limited

21 October 2014

Taking a break from my self inflicted but very enjoyable compliance-orientated week at the IBA Conference in Tokyo, I chanced upon a very lively seminar discussion on bitcoin and other virtual currencies. The session was certainly entertaining and thought provoking. At times it was also a little unusual in that a prop, in the form of a little black box, took centre stage in the seminar room. We were advised that this box might produce (or 'mine' to use the correct terminology) bitcoins whilst we were debating and we were all eligible for a share of the bounty if that happened. It didn't. You can sense my feeling of scepticism towards this rather new phenomenon.

I wasn't alone. The session provoked both a great divide and a great debate about the merits or otherwise of electronic currency. This was aided by the composition of the panel. We had speakers who were fervent advocates for electronic or virtual currency. Some of these speakers were not lawyer...

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