Blockchain technology has only been around for a little over ten years. But today, the technology is used for everything, from storing virtual money and documenting transactions to providing digital identification. The way individuals and corporations do business online is changing because of blockchain technology. But even though the technology opens up new areas, it also has a lot of unknowns. This is why federal agencies such as the Commodities Futures Trading Commission (CFTC), the Internal Revenue Service (IRS), and the Securities and Exchange Commission (SEC) have stepped in to regulate the blockchain space. What Opportunities are Available in Blockchain Law? Organizations that work with blockchain platforms, cryptocurrency traders, and cryptocurrency investors need to be careful and get legal help before doing anything that could lead to civil or criminal prosecution. It is for the above reason that a new field in the legal space is slowly taking shape. Blockchain lawyers are legal practitioners who provide counsel to clients who deploy blockchain-based business solutions, create or use cryptocurrencies, or integrate distributed ledger-based technologies in their processes. The crypto space is filled with opportunities for lawyers to promote best practices and ensure that trailblazing and disruptive blockchain projects operate within existing legal frameworks. The following are areas where attorneys can lend their exper...
