A Bitcoin Lawyer in Your Corner
“We Must Regulate Bitcoin. Problem Is, We Don’t Understand It,” was how the Wired Magazine article put it.
Bitcoin as well as all other virtual currencies are a significant challenges to regulators. Without fully understanding the implications of blockchain technologies more generally, with regard to their impact on innovation, competition and regulation, it would be wrong to impose strict laws on the whole Blockchain based, booming, industry. Alas, the laws and rules already exist. Virtual currency is treated as property for U.S. federal tax purposes. General tax principles that apply to property transactions apply to transactions using virtual currency.
Bitcoin attorney, Adam S. Tracy , J.D., M.B.A. is an authority in the law of blockchain technology with keen understanding of the regulatory issues facing crypto currency industries and can help you navigate regulatory waters in the field where innovation collide with the law and taxation issues. Contact us at 1.888.978.9901 or get in touch with us online if you are in need for help in any aspect of cryptocurrencies legal maze.
It is, indeed hard to regulate a currency you can buy or sell without having to use a trusted third party. Typically, people use crypto-currency exchanges that are often not subject to regulation. Most states want to regulate cryptocurrencies for a number of different reasons. They want to implement consumer protection, anti-fraud and anti-money laundering measures, data protection, and they feel they are missing out on some tax opportunities. The Tracy Firm, Ltd. innovative cross-disciplinary support for FinTech companies runs the full legal spectrum from asset protection, venture and private equity financing, mergers and acquisitions and public offerings to regulatory counseling, shareholders disputes matters and litigation. The Tracy Firm, Ltd., has embraced digital currency, and accepts payment for legal fees in Bitcoin and other cryptocurrencies. Adam S. Tracy, an Experienced Bitcoin Lawyer Bitcoin attorney Adam S. Tracy has been at the leading edge of the cryptocurrency revolution for years. Located in Chicago, Adam has built his career in one of the world’s great financial hubs while helping clients locally and around the world managing the complex process of cryptocurrency compliance. If you are involved with Bitcoin and other cryptocurrencies and have any questions with regard to how to comply with digital currency regulations, call The Tracy Firm, Ltd., at 1.888.978.9901 now or contact us online!