In Conversation With Akshata Namjoshi, Associate Partner, KARM Legal Consultants

Tell us a bit about yourself. What made you choose a career in law? 

I did my bachelor's from the National Institute University.  I did my master's in law from NUS Singapore. I started as a science student but I think I was I was very sure since the beginning that I wanted to pursue law as my career. I think it was an impeccable experience to pursue law both during my undergrad and postgrad because the law as a stream ends up touching upon so many subjects that give you so many opportunities to explore your own potential, your own personality. I got an opportunity to do a lot of moot courts, debates and paper publications. I think I got my fair share of opportunities during my time at law school.

If you could suggest one reform in the legal education system, what would it be? 

I think I realized while I was at NUS Singapore that Indian legal system focuses a lot on case laws instead of deriving what the precedent is about. As a lawyer who has been practising for quite a few years now, what I can say from the experience is that every transaction is a new challenge in itself. What comes in handy as a lawyer is understanding the concepts, and understanding the intention of the legislature more than really quoting facts or names or numbers from the precedents. Especially for tech laws (my areas of specialization), we cannot have a backwards-looking approach, and it always needs to be forward-looking.

Please tell us about your specialization and the array of work you handle at your firm.  

I am currently an associate partner at my current legal law firm based in UAE. I focus on Blockchain and fin tech-based projects in addition to also providing strategic advice for corporate structuring and investment rounds.  In the last few years, I have had the fortune to advise many crypto exchanges, Fintechs, tokenization-based projects and other crypto intermediaries.

Is a masters degree in law important for a successful career in your desired practice area? 

I wouldn’t exactly say that a masters degree in law is important for a successful career I have had some impeccable colleagues who haven’t pursued their masters, yet are some of the most phenomenal lawyers that I have come across. Having said that, what a master's degree gives you, is an opportunity to genuinely deep dive into a subject that you want to develop your understanding in. As I mentioned earlier I did my masters in Corporate and Financial Services Law from NUS Singapore. What it gave me was a strong base of understanding of Mergers and Acquisitions, Private Equity and Banking laws. All of these have come in very handy, when I now deal with countless start-ups in various areas of emerging technologies, going through their hustle of funding rounds, acquisitions and regulatory licenses. In addition to a master’s degree, for anyone opting for a career in tech laws, it is necessary to keep educating themselves with different certifications and specializations. Last year I pursued a certificate course in fintech from the Wharton School, again a very fulfilling experience in itself.

What are your expectations from India’s proposed law on cryptocurrency? 

I hope the regulators keep the law broad enough so that various kinds of players can find space in a regulated environment. It has been our experience as a firm, that the broader approach a regulator takes while also remembering the fundamentals of investor protection, anti-money laundering and the strong role of market intermediaries- the likelihood of success of such a law is much higher. Most importantly, the regulator must get the nomenclature and scope of the licenses right.

There is enough and more jurisprudence and examples available for Indian regulators from across the globe. While it is as much a risk to regulate something so revolutionary for a country of 1.3 billion, it is also an opportunity for economic growth.

Many Congratulations on joining the BW Legal World lite 30 Under 30 Club of Achievers 2021. What to your mind has helped you get to where you are and what advice would you have for others who want to set off in a similar direction?  

Thank you again BW legal team for the honour. I think remaining agile helped me a lot. Remember that there are many ways to achieve the same goal and not everyone has to follow the same path. Also, remember that you will garner a lot of judgement while staying ‘hungry’ and ‘foolish’, but stay hungry and foolish nonetheless. You’ll be a little less foolish every single time.

As a final note, would you please recommend to our readers your favourite book that left a lasting impression on you?

There are two books. Sheryl Sandberg‘s Lean In and Condoleezza Rice Extraordinary Ordinary People. The first book resonated a lot since it spoke so honestly of women’s experiences in the corporate world, especially when you start climbing up the ladder.

Rice’s book stayed with me because I could relate to the principles that she grew up with. In a household with forward-thinking ambitious parents who were willing to let go of norms when it came to female education and empowerment. As a female-only child, it is not only a privilege but an opportunity waiting to be fructified.