Cryptocurrency has legal ethics implications for lawyers who accept it as payment, store it for safekeeping on behalf of a client, or assist in an initial coin offering.
But lawyers have remarkably little guidance on how to stay on ethical footing when dealing with cryptocurrency and other blockchain technologies, members of the Association for Professional Responsibility Lawyers said at a recent panel discussion.
The APRL panel addressed a trio of questions:
- What is cryptocurrency?
- Why would anyone own or use it?
- May lawyers accept it as payment for their fees?
“Cryptocurrency is a way to transfer funds without...