If you’re working in crypto, then you know what a dynamic and potentially volatile area it is. That’s why it’s crucial that the professionals you surround yourself with are the best. And no area is more important than finding the best crypto law firm, as they serve not just as lawyers in the traditional sense, but as business advisors.
Crypto funds are funds that either exclusively contain cryptocurrencies, or funds that manage a mix between cryptocurrencies and other assets. This rather new segment of the investment industry is growing, with new funds launched and new inflows to already existing funds. According to Statista, assets under the management of crypto funds reached more than $59B near the end of 2021.
A law firm that is just starting to advise in this field may not even be aware of some of the basics like the differences between cryptocurrency, crypto or digital assets, crypto commodities and crypto tokens.
With so many options available, here are some questions to ask to find the correct crypto fund law firm for you.
The first and most obvious, how much experience does the crypto fund law firm you’re considering have in crypto?
It’s a “hot” field and a lot of firms and lawyers are jumping into it. But you can’t afford for them to learn on your bitcoin. You need a law firm that already has a wealth of knowledge in crypto funds.
If they have crypto experience, is it in the area that you need?
There are many different aspects of crypto, and you need to ensure that the law firm you’re engaging has specific experience with crypto funds.
How available are the firm’s lawyers to you? What is their response time to your queries?
They may have the experience and knowledge, but if they’re too busy to be available for you, then you may need to keep looking for your preferred crypto fund law firm.
Are they leaders in the field or simply order takers?
With an industry that is constantly evolving, you need a legal representative that’s on the forefront of developments and is also sought after as a thought leader by his or her peers. That’s a good indication that your potential crypto fund lawyer is admired and will be able to guide you correctly.
Are their services a good value?
Experience may equal a higher rate, but quality advice is worth paying for. Your mission will be to determine if their rate and experience equal a good value, or if they are charging more in this area simply because there aren’t as many legal firms that are well versed in it yet.