Esteemed law firm Murphy & McGonigle incepted the unified crypto crime database that covers information on Bitcoin, altcoins and other areas of the crypto sphere.
The new database Blockchain Litigation Database (BLG) is making it convenient for the law firms to deliver legal services to the clients from the crypto industry that are concerned about the issues of compliance with CFTC and the SEC.
There have been over two hundred and fifty cases until now; details of each case can be accessed on Blockchain Litigation Database (BLG).
The platform was developed by Murphy & McGonigle, a financial law firm and is designed to collect all cases that are related to cryptocurrency from different jurisdictions into a searchable database.
Presently, BLG represents companies such as Coinbase, Capital One, Bittrex, and Morgan Stanley. To grant access, the law firm charges up to five thousand dollars ($5000), and for a monthly subscription, it charges two thousand and five hundred dollars ($2500).
According to Daniel Payne, partner of Murphy & McGonigle, most of the law firms are getting into this space, and are looking for developing such technology that would enable them to draw the attention of well-established blockchains and digital currency clients.
BLG indicates that the CFTC and SEC have kept their promise of cracking down on unregistered security sales. However, the vast majority of people in the crypto industry are skeptical about the heavy hand of the financial regulators on the crypto sector, and any belief that lack of clarity in regulations is impeding the growth of the sector.