Virtually Everything | Episode 1 | An Introduction to Virtually Everything

Welcome to the first episode of the Clyde & Co Virtually Everything podcast series, brought to you by our multi-disciplinary virtual assets experts. Throughout this series, hosts Lucy Nash, senior associate in our dispute resolution group based in Dubai, and Vyasna Mahadevey, associate in our corporate group, explore the dynamic world of virtual assets, from cryptocurrency trends to NFT innovations, in the UAE and around the world.

To set the scene, the hosts begin by introducing themselves, their expertise and experience, plus examples of recent work in the virtual assets sphere. Next, they outline the goal of the Virtually Everything series, and a preview of the topics to be covered in coming episodes. Finally, a ‘quick-fire round’ challenges the hosts on their knowledge of common virtual assets terminology, which listeners are likely to hear throughout the series.   

Vyasna begins by detailing her background in non-contentious financial services regulatory work, assisting clients setting up a business in the UAE. As the virtual assets regulatory regime has developed rapidly in the last year, her work has increasingly involved advising on issues such as licensing requirements and regulatory obligations: “…we've received quite a lot of interest from foreign clients wanting to discuss what setting up a virtual assets business looks like here,” she explains. Members of the team have also assisted regulators with the development of policies and laws.

In her work in dispute resolution, Lucy is also increasingly focused on virtual assets, which she says are becoming more ubiquitous as people, “embrace or at least come across the virtual world in our day-to-day lives.” Working across a diversity of issues, spanning crypto scandals through to breach of contract, and complex fraud cases, she advises clients on avoiding disputes and handling dispute resolution, whether through arbitration and litigation. Past clients have included an NFT art broker in a dispute relating to royalty payments, and a global cryptocurrency exchange regarding a crypto mining agreement. 

Discussing the purpose of the series, Lucy explains: “We want to make the virtual world more accessible for everyone by providing bite-sized digestible content on a variety of topics…” Vyasna outlines key issues to be covered, including comparing regulatory regimes across the UAE. The duo will also discuss contentious cases tested in the UAE, while regularly drawing on Clyde & Co’s global network of lawyers, and guest speakers from the sector to provide additional insights.

To conclude, Vyasna and Lucy give listeners an introduction to some of the most common terminology in the virtual asset world, including the Metaverse, cryptocurrencies, NFTs (non-fungible tokens), blockchain and De-Fi (decentralised finance), in the style of a quick-fire Q&A. 

This podcast forms part of the Virtually Everything podcast series. To find out more about the topics discussed in the series, please visit our dedicated Digital Assets and Blockchain page.