Blockchain technology is one of the hottest industries going right now. Whether it is cryptocurrencies, NFTs, tokens, or other digital assets, blockchain has gone over the past decade-plus from a niche industry for the tech-savvy to front page news on the New York Times and Wall Street Journal. Seemingly everyone now is interested in blockchain investments, and the innovative possibilities created by blockchain technology.
However, like any new industry, blockchain technology and cryptocurrency finds itself facing an ever-shifting legal and regulatory landscape. Also, like any growing industry, it has attracted the eyes of government regulators and legal professionals. Counsel to blockchain clients need to be well-informed on industry events and prepared to advise their clients on new developments from state and federal regulators, as well as key court decisions. If you are participating in the blockchain industry, whether as the owner of the company such as a mining or trading operation, or simply an investor with significant blockchain assets, you may be approached by state or federal regulators, or you may find yourself needing to be a plaintiff or defendant in legal proceedings. In those cases, you will need the advice and services of skilled cryptocurrency and blockchain counsel. The attorneys at Dressel/Malikschmitt have significant experience with cryptocurrency and blockchain-related litigation, investigations and legal advice.
Blockchain and cryptocurrency are industries where things change on a dime. New regulations are promulgated, old regulations are suddenly re-interpreted. The assets at issue in a particular matter may suddenly balloon in value, or, alternatively, become valueless. Attorneys who represent clients in the blockchain and cryptocurrency industries need to have flexible, proactive approaches to legal issues. Well-thought-out strategies can be undermined when there is a price jump in an asset, or some other sudden development, and blockchain counsel must be ready to pivot and adapt. The cryptocurrency attorneys and blockchain lawyers at Dressel/Malikschmitt stay up to date on recent litigation in the crypto-industry and monitor new regulatory developments, as well as developments in the blockchain industry generally, in order to provide informed advice to their clients.
Business and Regulatory Advice
Blockchain businesses often live by the same principles of decentralization that drive blockchain technology. From an organizational standpoint, this can be good, in that there are not multiple layers between attorneys and management. However, it can also pose difficulties for the decision-making process by removing the layers of review of business and legal decisions that more traditional organizations may engage in. Dressel/Malikschmitt can help develop legal best practices within your organization in order to help management form sound strategies that avoid legal issues, and potential regulatory investigations, which could jeopardize assets, investors, or management.
Of particular importance are regulatory developments. Your business needs counsel that will stay abreast of these issues. Innovation in the crypto-asset class well outpaces the ability to regulate, and regulators are constantly changing their requirements and approaches in an effort to keep up with this innovation. Moreover, the cross-border nature of many blockchain transactions also creates a patchwork of regulations for blockchain-based businesses to consider. Dressel/Malikschmitt’s attorneys monitor regulatory changes and are prepared to advise our clients on key regulatory developments.
The Securities and Exchange Commission and Commodity Futures Trading Commission (in addition to the IRS) are increasing their efforts to regulate cryptotokens, blockchain assets and blockchain-based securities. Blockchain-based assets are also increasingly catching the attention of law enforcement agencies, with increased efforts to unmask crypto-transactions which may be linked to illicit activities. If you are under investigation or are concerned that may become involved in a government investigation, concerning blockchain-based assets, you need legal advice from a lawyer who understands blockchain and the applicable law. It is important to work with attorneys who can effectively interface with these enforcement agencies to protect the client and its investors and owners. The attorneys at Dressel/Malikschmitt are prepared to provide that advice and aid with responses to investigations by regulatory agencies, law enforcement or even audits by investors.
Dressel/Malikschmitt LLP has led successful representations in litigation, internal investigations and provided general legal advice for parties within the blockchain industry. Our attorneys are prepared to offer advice and representation to you or your business regarding:
- Government investigations
- Mining Pool Agreements
- Shareholder Agreements
- Criminal liability
- Subpoena responses
- Investor dispute resolution
- Governance dispute resolution
- Internal investigations
- Contract dispute resolution
- Drafting of agreements with investors or outside service providers
- Entity formation documents
Blockchain businesses and their investors face a quickly changing set of emerging legal concerns and questions. Dressel/Malikschmitt attorneys are informed and experienced in cryptocurrency, digital asset, and blockchain-related legal matters. To contact the attorneys at Dressel/Malikschmitt LLP, call us at (848) 202-9323, or submit the Contact Us form for a free consultation.