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Crypto ‘Cool,’ But Law Firms Beware

March 11, 2019, 11:27 AM

Law firms can—and more do—accept cryptocurrency payments or help clients with initial coin offerings, but legal experts say they can’t ignore ethical shortcomings and other risks.

  • Hip and Cool: Latham & Watkins General Counsel Matthew K. Roskoski says some attorneys may want to accept cryptocurrency to show “we’re hip and cool and on top of stuff.” Lawyers are in the client-service business, so they may dive in if one asks for that option.

  • Volatile, Complex: While digital currency is popular, it isn’t considered legal tender by the IRS and it’s prone to market volatility. Ethical issues may flare ...