Veteran crypto lawyer Addison Cameron-Huff has started the first all-crypto legal firm in Canada, Bitcoin magazine has reported. Launching his venture on the tenth anniversary of Bitcoin, Cameron-Huff will only handle matters related to the cryptoasset industry, and will cater to a crypto clientele with an unusual fixed-rate billing structure, giving clients continuous and ongoing access to his legal service.
Cameron-Huff is no slouch when it comes to experience with cryptoassets. He is the president of Decentral Inc., developer of the Jaxx cryptoasset wallet, and was also involved with Canada’s primary legislation on crypto, first laid down in 2014 but not yet completely in force.
The new firm will not be partial to Canada, however, and Cameron-Huff expects to garner a global clientele - citing a global lack of lawyers qualified to handle blockchain matters, he says the lack of expertise is “an export opportunity for Canada’s blockchain lawyers.”
One of the most innovative things Cameron-Huff is doing is a unique billing regime, whereby clients are charged a fixed, monthly rate in return for essentially unlimited and ongoing access to the legal service.
Bitcoin magazine quoted the chief legal officer of the Bitfinex exchange as commenting on the scheme: “I suspect he’ll also find a very willing audience for the fixed-fee arrangements that he’s proposing [...] The attorney’s way of working and billing should fit the client’s business model and objectives, not the other way around.”
Industry Growing as Price Slides
The new law firm is another example of the continued buildup of infrastructure in the cryptoasset industry, even after a year of declines in the crypto market’s overall valuation. CryptoGlobe reported yesterday on the growing salaries of blockchain developers, already some of the best paid in the IT world - while 10,000 blockchain developer positions are still go unfilled in the US alone, according to some reports.
Cameron-Huff is, naturally, quite bullish on crypto in the long run, saying “The price goes up. The price goes down. The price goes up. That’s the history of bitcoin in a nutshell,” adding that “The only thing that would surprise me is if the price stays the same throughout 2019.”
But he is also realistic about all the poor quality projects that he expects will be flushed out of the ecosystem: “[C]opies [of Bitcoin and Ethereum] that don’t involve technological innovation will almost certainly continue to fail.” He points to a “growing sophistication in the market.”