Why a Handshake Won’t Seal a Crypto Business Deal – Bloomberg Law

Blockchain technology enables professionals around the world to work collectively on non-fungible token projects, create new cryptocurrencies, build decentralized crypto-exchanges, or DEX, and engage with other facets of the web3.

However, because business deals in the crypto space often lack formal arrangements, such as written contracts or a corporate formation, the parties may be exposing themselves to unnecessary expenses, liability risks, and even adverse tax consequences.

Although having a written contract is not a panacea, a recent case illustrates how one party’s litigation position would have been much stronger with one in place.

In Bendtrand Global Services S.A. v. Silvers, a…

Read Full Story: https://news.bloomberglaw.com/tech-and-telecom-law/why-a-handshake-wont-seal-a-crypto-business-deal

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