Blockchain technology is both innovative and disruptive in nature—but Dorsey attorneys have been heavily involved in these emerging industry segments since their inception. Not only is it necessary to understand how Bitcoin and other crypto-currencies and digital assets function and are created, it is also critical to be able to advise clients how existing regulation and licensing impacts participants in this arena.
Dorsey has provided clients with critical counsel on numerous legal issues presented by blockchain technologies and digital assets, including:
- Establishment of Bitcoin mining operations
- Intellectual property concerns
- Investments and corporate structuring
- Regulatory compliance including SEC registration issues, anti-money laundering provisions and other state and federal regulatory matters.
- State and federal licensing and enforcement
- Cybersecurity issues
- Digital asset trading and exchanges
- Tax impacts
Importantly, while many existing regulatory structures may apply to blockchain operations, Dorsey works with regulatory officials to obtain the most favorable outcomes in legal areas where ambiguity exists. This includes monitoring on a daily basis the announced intention by the U.S. Department of the Treasury to review these issues in a comprehensive manner.
- Representing a client in a bitcoin mining transaction involving a non-U.S. financing with plans to acquire a bitcoin mine in the U.S.
- Representing the underwriters in a going public transaction with a capital raise for a cryptocurrency merchant bank.
- Represented a client in forming a cryptocurrency/digital assets private investment fund.
- Represented a U.K company in its merger with a U.S. company, each of which is involved in computer services, including bitcoin mining.
- Multiple pending transactions involving Initial Coin Offerings, including proposed SEC registrations.
- Advised start-up companies on regulations regarding mobile apps and websites that combine cryptocurrency, consumer savings behaviors, and bank products.
- Advised lobbying group in connection with CFPB approaches to regulating cryptocurrencies, including the CFPB prepaid card rule.
Industries & Practices
- Capital Markets
- Cybersecurity, Privacy & Social Media
- Investment Funds
- Mining & Natural Resources
- Technology Commerce