Gunnerkook, a UK law firm, claims to be one of the first major law firms in the country to accept crypto payments.
crypto asset payment
A United Kingdom-based commercial law firm, Gunnerkook, has become the latest practice to accept cryptocurrencies as payment for services, a report said. The firm also claims to be one of the first major UK-based law firms to offer payment options to its clients.
We are pleased to announce that we are now the first major UK law firm to officially accept payments in cryptocurrency. we have partnered with @coinpassglobal to exchange and have now accepted our first payment from the customer @AttestantIO, https://t.co/3rIK4ZfS9d #crypto news pic.twitter.com/enH10N8O13
— gunnercooke (@gunnercooke) 21 February 2022
As reported in the Law Society Gazette, Gunnerkook will now route any such payments through CoinPass, a registered cryptocurrency exchange platform. The report also named cryptocurrency transaction verification service, Attendant, as one of the law firm’s clients who are paying for services using cryptocurrencies.
In his remarks after the law firm’s formal confirmation of the law firm’s formal confirmation by Gunnarkook’s director of finance, Nasir Patel, Gunnarkook’s director of finance explained the reasons that prompted the law firm to take this step. The report quoted Patel as saying:
So far, only a few US law firms allow crypto asset payments, so we are proud to be at the forefront of innovation in the UK. , We will now be able to work with a wide variety of customers in different jurisdictions, as well as provide our partners the convenience of making payments securely in whatever method they choose.
highly volatile cryptocurrencies
Meanwhile, reports suggested that several other niche practices, including Quin Legal, had also previously indicated their plans to accept crypto payments. However, the report also noted that some law firms are reluctant to accept highly volatile cryptocurrencies as a form of payment.
On the other hand, an unnamed spokesperson for the Solicitors Regulation Authority has said that “how firms are paid is not something within our remit, as long as it is legal.”
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