1-Hour Program

See Credit Details Below

Overview

Cryptocurrency has been around for over a decade.  Based on a decentralized ledger supported by the often quoted and rarely explained “Blockchain Technology, cryptocurrency is slowly establishing its presence in mainstream banking and other commercial endeavors.  Cryptocurrencies (over 100 and counting!) face an uphill battle for a myriad of reasons.  Other than the technology powering the concept, there is a great deal of ambiguity around the regulation, valuation, and even definition itself of what a cryptocurrency really is.  And then to top it off, they add other cryptocurrency varietals, Non-Fungible Tokens (NFTs), Initial Coin Offerings (ICO) and Stable Coins.

This review breaks down what cryptocurrency is in simple terms, how it’s transacted, who is trying to regulate it and a list of other issues to that might crop up as law firms start accepting cryptocurrency in your legal practice.

Mark Stignani, Chair of Analytics/Partner at Barnes & Thornburg LLP and former in-house counsel at Thomson Reuters, (Westlaw) will teach the basics around understanding and accepting cryptocurrency as part of a law practice:

  • Cryptocurrency definitions [5 minutes]
  • Cryptocurrency ecosystem definitions [10 minutes]
    • Cryptomining
    • Smart contracts
    • Token sales
  • Legal issues and challenges for Counsel who want to accept cryptocurrencies (CC) [15 minutes]
    • Civil/criminal Issues associated with CC
    • CC to cash conversion – Accounting/IOLTA issues
  • Which regulatory authorities are attempting to regulate the use of CC [15 minutes]
    • Federal/State/International
    • Tax authorities
    • Partnership issues
  • Issue spotting checklist for engaging with cryptocurrencies and your business [10 minutes]
    • Order to cash
    • Managing risk/expectations
  • Conclusions and practice tips for those getting started [5 minutes]

 

 

Program Level:  Overview

Intended Audience:  Attorneys in private practice, in-house counsel, counsel for non-governmental organizations and think tanks

Prerequisites:  An interest or need to understand the law/regulation around cryptocurrencies

Advanced Preparation:  None

 

Credit Details

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