UK Law Firm Gunnercooke Says It Now Accepts Crypto Payments
Gunnercooke, a UK-based commercial law firm has accepted cryptocurrency payments for its services. According to a report. This firm claims to be the first U.K.-based law firm to offer its clients this payment option.
We are proud to announce that we have become the first UK law firm to accept cryptocurrencyasset payments. To make the exchanges, we have partnered with @coinpassglobal and have accepted our first payment from client @AttestantIO. https://t.co/3rIK4ZfS9d #CryptoNews pic.twitter.com/enH10N8O13
– gunnercooke February 21, 2022
Gunnercooke, as explained in a Law Society Gazette report will now route such payments via Bitcoinpass, which is a registered cryptocurrency exchange platform. According to the report, Attestant is a verification service for cryptocurrency transactions that clients of Gunnercooke are using to pay for services.
Naseer Patel (Finance Director at Gunnercooke), explained why the law firm made this decision in his remarks after it had given its firm formal confirmation. Patel, who stated:
Only a handful of U.S. law offices allow crypto asset payments. We are proud to be the pioneer of innovation in the U.K. We will be able now to work with more clients in different jurisdictions and offer our partners the freedom to be paid securely in any way they wish.
The Highly Volatile Cryptocurrencies
The report also suggested that Quinn Legal and other niche firms had previously indicated their willingness to accept cryptocurrency payments. The report did not mention that some law firms are hesitant to accept volatile cryptocurrency payments.
Unnamed representatives of the Solicitors Regulation Authority are reported to have said that “how firms get paid” is not within their remit.
