July 24, 2018
New York Law Journal
New York lawyers may face a set of unique challenges that might distinguish them from lawyers elsewhere while holding a client’s cryptocurrency in trust.
Bitcoin and other virtual currencies are the currency du jour. With growing use and legitimacy, Bitcoin is ubiquitous. What was once perceived as the preferred currency of dubious online transactions and shady business dealings is increasingly entering the mainstream, with many commercial enterprises accepting cryptocurrency. Naturally, clients have begun to recognize the benefits and value associated with Bitcoin, but they are also concerned about the potential risks and liabilities involving such transactions. It is only a matter of time before clients turn to their trusted counsel for guidance.
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