Canadian Lawyer

30 M A Y 2 0 1 8 w w w . C A N A D I A N L a w y e r m a g . c o m securing supply chains. But, on the other hand, it drives crypto-currencies — and crypto-currencies are inherently creating substantial regulatory and legal concerns for governments. "It's a Jekyll and Hyde situation." Then there's tax, says Farrell. "While blockchain may eliminate tax fraud and evasion, collect taxes in real time, eliminate annual tax returns, reduce compliance costs for business and government and help transform an out- dated international system, crypto-cur- rencies and blockchain are at the same time a perfect ecosystem for evasion and laundering." Farrell says he also wonders if regu- lators will classify crypto as currencies, securities or commodities. "There's no consensus. For crypto investors who want to comply with the laws — and in my experience, the vast majority do — there are very simple practical problems with compliance. For example, where does one place crypto gains or losses on a tax return?" Grinhaus says blockchain also poses problems when it comes to enforcing regu- lations that impact transactions involving crypto-graphic assets — assets that can be transferred anonymously worldwide. "Although the U.S. is still struggling with these same issues, its regulators and courts have been far more active in inter- preting and enforcing the existing rules," he says. For Soliman, at least, all this ambigu- ity means the firm is currently "almost non-stop on private placements, reverse takeovers and ICOs involving blockchain companies — not to mention countless other general commercial mandates for crypto-miners, custodians, major financial institutions and so on." Another Canadian firm reportedly cap- italizing on blockchain is Gowlings WLG, where Usman Sheikh heads up a dedicat- ed blockchain and smart contracts group. Sources say that boutiques to one side, Gowlings leads on blockchain instructions among Canada's biggest firms. In February, Gowlings announced a "strategic alliance" with four-year-old Toronto-based com- pany Decentral, Canada's foremost block- chain company. As part of the agreement, Decentral is helping Gowlings "develop its internal blockchain infrastructure and client-facing tools," a release said, while Gowlings is guiding the legal aspects of Decentral's practices and projects. Fasken Martineau DuMoulin LLP, meanwhile, has also signed up to a group — the Global Legal Blockchain Consor- tium, a non-profit aiming to lead stan- dards and governance for the adoption of blockchain within legal services. A spokes- person said that, as of late March, Fasken had advised "many" blockchain startups on ICOs, helped a lot of asset managers offer crypto-currency management ser- vices and products and led financings for crypto-currency exchange Coinsquare. Dentons, another GLBC member, told Canadian Lawyer that the firm has been busy advising on blockchain issues ran- ging from ICOs to foreign exchange pay- ment solutions to startups wanting to run crypto-currency exchanges out of Canada. Others, apparently busy with blockchain, include Miller Thomson LLP, McCarthy Tétrault LLP, Aird & Berlis LLP, Osler The only source you need to connect to the right witness or challenge expert evidence Available risk-free for 30 Days Online: store.thomsonreuters.ca | Call Toll-Free: 1-800-387-5164 In Toronto: 416-609-3800 Print + ProView Order # L7798-8104BE-65203 $270 Softcover + eBook approx. 140 pages March 2018 L7798-8104BE ProView only Order # A00292-18ON-65203 $225 Print only Order # L7798-8104-65203 $225 Shipping and handling are extra. Price(s) subject to change without notice and subject to applicable taxes. *Not available to trade bookstores, third-party distributors, and academic institutions. Streamline trial preparation with Mack's Expert Evidence Compendium - 2018 Edition − the practical resource designed to help you lay a proper foundation for presenting or examining expert evidence in criminal court while maintaining an effi cient workfl ow. All the information you need to connect to the right witness or challenge expert evidence can be found in this unique collection that includes: • A comprehensive review of expert evidence from all areas of expertise, sorted by subject matter • A complete summary of the evidence, including the name(s) of the expert(s) who testifi ed and the court's treatment of that evidence • Your choice of format: Print, eBook, or both formats together • Annual updates that keep this collection current Discover the complete collection of ProView eBooks at store.thomsonreuters.ca/proview New Edition Mack's Expert Evidence Compendium - 2018 Edition Dallas Mack and Louise Tansey Also available as a Thomson Reuters ProView® eBook* © 2018 Thomson Reuters Canada Limited 00250IS-A90210-CM

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