Bitcoin, Blockchain, and the Law
Bitcoin is currently soaring to new heights, with a single bitcoin worth more than $3,000. New “cryptocurrencies,” or digital currencies that employ encryption, are emerging every day, with hundreds circulating every day. Some entrepreneurs are even abandoning IPOs in favor of an “ICO,” or initial coin offering. And as blockchain-based cryptocurrencies become more widespread, they’re earning the scrutiny of federal and state regulators, from the IRS to state legislatures.
Meanwhile blockchain, the technology that makes many virtual currencies possible, is gaining even more attention, as financial giants invest millions in blockchain research and forward-thinking legal minds turn to the technology for everything from land registries to smart contracts.
These aren’t just hyped tech trends; bitcoin and blockchain could have significant legal implications, whether it's complicating eDiscovery, raising money laundering concerns, or being used as payment for legal services.
Watch now to learn:
The basics of blockchain and bitcoin technology
How blockchain and bitcoin are impacting attorneys day-to-day practice -right now
How federal and state laws impact virtual currencies
Regulatory frameworks and possible regulatory action around virtual currency