Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Cybersecurity Law & StrategyFeaturesCybersecurityTechnology Media and Telecom

Should Your Clients' Involvement With Cryptocurrency Scare You?

By Ross Benson and Robert N. Driscoll
May 01, 2021

Cryptocurrency, and its most-noted asset Bitcoin, has been breaking into the mainstream press. While most lawyers have heard terms like "blockchain" and probably even know a few people who have been deeply interested in the world of cryptocurrency, far more of us have at best a vague understanding of crypto markets and how crypto is acquired, traded and converted to everyday dollars (or fiat currency). Given that the price of a Bitcoin is up over 750% since April 2020 and approximately $56,000 per coin at the time of writing, the incentive to pay attention has increased. What was once thought to be a solely a niche product is becoming more widely accepted, as evidenced by an recent article in Forbes estimating that 10% of stimulus funds, or $40 Billion, will be used to purchase Bitcoin.

Given this rapid expansion of interest and participation in cryptocurrency transactions, it's not a matter of whether you have an interest in crypto, think it's all a bizarre techno-bubble, the eventual replacement for fiat currency, or somewhere in between. The fact of the matter is your clients, and future clients, are more likely than ever to have a connection to this market, and a brief review of the headlines can make this prospect seem terrifying.

This premium content is locked for Entertainment Law & Finance subscribers only

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473

Read These Next
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It Image

Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?

Bankruptcy Sales: Finding a Diamond In the Rough Image

There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.

The DOJ's Corporate Enforcement Policy: One Year Later Image

The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.

A Lawyer's System for Active Reading Image

Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.

Protecting Innovation in the Cyber World from Patent Trolls Image

With trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls"), companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.