Gunnercooke, a law practice in the United Kingdom, claims to be one of the country’s first large law companies to accept cryptocurrency payments.
Payments in Cryptocurrency
According to a source, Gunnercooke, a commercial law firm based in the United Kingdom, has become the latest practice to accept cryptocurrencies as payment for services. The firm also claims to be one of the first big legal firms in the United Kingdom to offer its clients payment options.
According to a report in the Law Society Gazette, Gunnercooke will now send any such payments through Coinpass, a registered cryptocurrency exchange platform. According to the report, Attestant, a cryptocurrency transaction verification service, is one of the legal firm’s clients that pay for services with cryptocurrencies.
Naseer Patel, financial director at Gunnercooke, explained the reasons for the legal firm’s decision to take cryptocurrency in his comments following the firm’s formal confirmation. According to the investigation, Patel stated:
Only a few law firms in the United States already accept crypto asset payments, therefore we are happy to be at the forefront of innovation in the United Kingdom. — We will now be able to engage with a broader range of clients across many jurisdictions, as well as provide our partners with the freedom to be paid securely in the manner of their choice.
Cryptocurrencies That Are Extremely Volatile
Meanwhile, the paper said that numerous other specialist practices, including Quinn Legal, have previously indicated their intention to accept cryptocurrency payments. However, according to the study, some law firms are hesitant to take highly volatile cryptocurrencies as payment.
The Solicitors Regulation Authority, on the other hand, is claimed to have indicated that “how firms get paid is not something within our remit, as long as it’s legal.”