COVID-19

As a result of the Covid-19 pandemic Chambers’ building is closed and clerks and barristers are working remotely.

We are committed to ensuring that work is completed as efficiently as possible in these difficult times and ask our clients to contact us electronically in the first instance by emailing gsc@goughsq.co.uk or the relevant barrister directly.

For more information and telephone contact details click below.

Lloyds Bans Cryptocurrency Card Purchases

It has been announced this morning that Lloyds Banking Group is to prohibit its customers from purchasing cryptocurrency by credit card. Cryptocurrencies are a volatile financial product, subject to potentially substantial drops in value. Although not subject to specific regulation in the UK, the FCA has made clear that the framework in FSMA 2000, the Regulated Activities Order and the Handbook are “technology neutral”. Accordingly, if a cryptocurrency falls within the scope of a particular provision, it will be regulated accordingly. The interaction between section 75 of the Consumer Credit Act 1974 and cryptocurrency transactions is particularly complex by reason of the nature of the sale agreement and the types of claims which may arise from movements in value.