The law firm gunnercooke in the UK has stated that it is one of the first major law firms in the country to accept payments in cryptocurrencies.
A report said that gunnercooke is a UK-based commercial legal firm, where its most recent practice has become to accept cryptocurrency as payment for services.
transaction verification service, as one of the law firm's clients paying for services using Cryptocurrency.
As he explained in his comments after the company's official confirmation that it would accept dealing in cryptocurrencies, Naseer Patel, Chief Financial Officer at gunnercooke, explained the reasons why the law firm took this step.
The report quoted Patel who said:
To date, only a handful of law firms in the USA are allowed to pay in cryptocurrencies, so we are proud to be one of the first and at the forefront of innovation in the UK — we will be able to work with a variety of clients across different jurisdictions, as well as offering all the facilities to our partners to be paid securely in the way they choose.
Cryptocurrencies are volatile and not static:
-Meanwhile, the report suggested that several other companies including legal coin had previously indicated a study to accept crypto payments.
However, the report also said that some law firms were reluctant to accept cryptocurrencies because they are highly volatile.
On the other hand, an unnamed Solicitors Regulation Authority spokesman reportedly stated "how companies are paid is not something within our jurisdiction, as long as it is legal.”
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