After witnessing billions in customer and investor dollars vanish from one of the world’s most popular platforms for trading digital assets, law firms’ risk-averse attitude to cryptocurrencies as payment for legal services is likely to be further ingrained in the wake of the FTX scandal, according to crypto lawyers.

The events over the last week and a half have made some firms question the amount of control they have over their digital assets if they are hosted on a trading platform connected to offshore entities lacking the customer and investor protections afforded by U.S. regulation. And that’s to say nothing of the volatility of crypto coin prices on a good day, which tests the patience of account holders deciding whether to sell or hold.

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