![]() There are many types of cryptocurrencies, sometimes referred to as “alt-coins” or “altcoins,” with new ones created every day. In some cases, cryptocurrencies may be used to purchase or in exchange for real currencies. Blockchain technology is often used to record and transmit cryptocurrency transactions on a public ledger, which ensures the integrity and security of the purchase and sale. What is Cryptocurrency?Ī cryptocurrency is a digital or virtual currency that is secured by cryptography, unique digital signatures and complex mathematical algorithms which protect the currency from counterfeiting. The uncertainty in how existing laws may be applied means that anyone offering or purchasing digital currencies should be mindful of potential legal liability and consult an attorney regarding their rights and responsibilities. In addition, intellectual property, contract, and other areas of law may impose requirements on private parties and specific transactions. ![]() At the federal and state level, the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), Internal Revenue Service (IRS), The Financial Crimes Enforcement Network (FinCEN), and New York State Department of Financial Services are among the governmental agencies that regulate the use of cryptocurrencies. However, unlike other types of financial transactions, the rules governing digital currencies are still evolving and enforcement is inconsistent. Growing interest in cryptocurrencies has fueled a commensurate rise in litigation. Sexual Orientation and Gender Identity Discrimination.Offer Letters and Employment Agreements.Non-Compete and Non-Solicitation Agreements in Employment Law. ![]() Limited Liability Company (LLC) Disputes.Digital Millennium Copyright Act (DMCA).Student-Athlete Name, Image & Likeness Rules. ![]()
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