Why get legal assistance
Our cryptocurrency lawyers are licensed across the country and are able to provide both the local regulatory support and the broad corporate guidance cryptocurrency businesses need to succeed. In addition to our cryptocurrency and Bitcoin lawyers’ experience in the cryptocurrency space, Lawscape attorneys are available to help with corporate law, intellectual property, commercial litigation, regulatory compliance, SEC and finance cryptocurrency regulations, tax law, employment law, and international law.
Because cryptocurrencies are so innovative, they continue to defy traditional legal categories and definitions since the advent of Bitcoin. So it is imperative for cryptocurrency startups to consult the legal expertise of the attorneys who are helping to shape the new legal framework for cryptocurrencies and are actively up to date on all of the relevant case law where much of the regulatory policy for these digital currencies is being written. Our attorneys can also help cryptocurrency startups with the implementation of SEC compliant initial coin offerings (ICOs).
Initial Coin Offerings are a modern fundraising tool that allows selling tokens for nascent cryptocurrencies. They’re now widely used by blockchain startup companies as a mean of raising capital. As a rule, ICO campaigns are started before the release of a new coin and typically range between $5,000 and $10,000. Lawscape has multiple cryptocurrency attorneys with ICO experience.
Smart contracts are the programs that encourage and execute the purchasing agreement between the sides of sales by means of blockchain technology. These contracts are also defined as self-executing, as their workflow is predefined by the block of code. Their main goal lies in enabling two parties to trade and carry on business on the Internet without a third party, in most cases anonymously. An ICO lawyer or cryptocurrency lawyer on Lawscape can usually assist with smart contracts beginning at $500, but can go as high as many thousands.
Federal and State Regulation
Regulation may be by specific digital currency statute or cryptocurrency regulation, under existing money transmitter law and by court cases. In addition to the Federal and different state rules in this area, we also have to consider two main levels of regulatory approach: statutes/regulations and court interpretation.
Digital currencies have characteristics of traditional tax haven jurisdictions: earnings are not reported to the IRS and users are provided some level of anonymity. Unlike traditional tax havens, however, digital currencies are able to operate without involving a financial institution.
Securities regulation focuses on two different legal issues involving cryptocurrencies — investments purchased with Bitcoins and investing in Bitcoins. The SEC has been active in investigating issues related to Bitcoins and has published an investor alert on Bitcoin and other virtual currency-related investments.
Most cryptocurrency startups are founded by incredibly talented computer programmers and business entrepreneurs. Ultimately they aren’t getting into the software or marketing industry, but into the heavy-handed regulatory environment of the finance industry where they will need specialized legal help to succeed.
Gain a fresh perspective
Should your company be formed as an LLC? How about a Delaware C-Corp? An experienced cryptocurrency lawyer will consider your goals and lead you down the best route for your business.
Cryptocurrency lawyers and ICO lawyers who assist your startup in its early stages can steer you away from obstacles and dead ends early on, and will have a greater familiarity of your company and its needs in the future, rather than a random lawyer you’re forced to hire when something goes wrong.