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Loeb Restructuring & Bankruptcy partner Daniel Besikof is quoted in a CNBC article discussing the risks of investing in cryptocurrency.
According to the article, cryptocurrencies are not regulated and therefore do not offer the same types of protections as banks or brokerage firms. If crypto trading and lending firms froze customer assets or collapsed, investors would have no guarantee of recovering their crypto funds.
In regards to repossessing crypto assets, “There isn’t such a scheme like that at this point,” Daniel noted. “It wouldn’t surprise me if one happens down the line. This will ramp up calls for enhanced regulation.”
Click here to read the full article on CNBC’s website.
According to the article, cryptocurrencies are not regulated and therefore do not offer the same types of protections as banks or brokerage firms. If crypto trading and lending firms froze customer assets or collapsed, investors would have no guarantee of recovering their crypto funds.
In regards to repossessing crypto assets, “There isn’t such a scheme like that at this point,” Daniel noted. “It wouldn’t surprise me if one happens down the line. This will ramp up calls for enhanced regulation.”
Click here to read the full article on CNBC’s website.
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Deputy Chair, Restructuring & Bankruptcy