Law.com reports that there is a huge demand for lawyers with blockchain expertise (paywall). The author of the article Brian Burlant recruits for law firms and in-house legal departments and finds his candidates in existing regulatory agencies and government departments (Cointelegraph).
Usually I would be concerned about regulatory capture but this is not a problem for crypto because it is a very competitive industry. Indeed, such recruitment is to be welcomed because in-house lawyers with regulatory expertise will be able to develop self-regulation schemes that may in-turn inform government regulation.
The article recommends that law students should study blockchain which is a good thing because we need more blockchain lawyers. Unfortunately the author propagates the the “blockchain good, Bitcoin bad” myth but is on the money when he says that privacy issues are central to the legal challenges that face many businesses developing blockchain applications.
The flow of regulatory expertise into the sector is to be welcomed.