National Law Journal Names Ian McGinley ‘Cryptocurrency/Blockchain/Fintech Trailblazer’, Publishes Profile

(New York) – Akin Gump is pleased to share that litigation partner Ian McGinley has been named Cryptocurrency/Blockchain/Fintech Trailblazer by The National Law Journal.

The NLJ Trailblazer series spotlights legal professionals who have made significant marks on the practice, policy and technological advancements in their sector.

In the profile published on the occasion, Mr. McGinley discussed the work that made him a trailblazer.

• What was the genesis of the idea/path that has made you a trailblazer?: “When I was Co-Chief of the Complex Fraud and Cybercrime Unit at the U.S. Attorney’s Office for the Southern District of New York, I supervised the investigation into OneCoin, an over $1 billion cryptocurrency pyramid scheme. This was one of the first large scale cryptocurrency fraud prosecutions of its kind, but I knew the case was one of many schemes to come. I realized at that time that the cryptocurrency space had great potential for innovation in finance, but was also rife with fraud.”

• What sort of change has resulted from the concept?: “In February 2022, I wrote the first article highlighting the rapid growth of non-fungible tokens (NFT) and the likelihood of forthcoming prosecutions in the NFT space, given the hype and amount of money pouring into the industry. Those predictions were correct, as the Department of Justice has now charged three NFT cases. This thought leadership has led companies and individuals to engage me prospectively, before problems arise. I counsel executives at major cryptocurrency exchanges and NFT project developers on enforcement risks, compliance matters and how best to structure new projects in an often uncertain regulatory environment.”

• What bearing will this have on the future?: “The future of white-collar practice is in the cyber world as nearly every case has a digital component. Cryptocurrency cases exemplify this phenomenon and, as more of these cases arise, it will be imperative for defense lawyers, prosecutors and regulators to understand the technology and applicable legal principles. I expect that cryptocurrency cases will soon be a part of every white-collar practitioner’s docket.”

Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.

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