New Year, New Legal Focus: The Impact of Cryptocurrencies and Blockchain Law, published in The Mid-Market Report by Law.com2021-01-22T00:03:51+00:00
01.21.2021 // NEWS, Publications
New Year, New Legal Focus: The Impact of Cryptocurrencies and Blockchain Law, published in The Mid-Market Report by Law.com

The emergence of the token-based economy, allowing people to buy and sell goods using new types of currencies, will have far-reaching legal ramifications. In an article published on January 19, 2021, Ciaran Connelly discusses the quickly evolving blockchain field, and he points out some concerns around the security of this technology and cryptocurrency. He says that would-be blockchain users must understand the risks before they decide to implement blockchain technologies. When cryptocurrencies are involved, there are securities laws, fraud, and money laundering risks that must be mitigated. SEC enforcement actions extracted millions of dollars from companies that engaged in improper Initial Coin Offerings. Connelly points out, “it’s important to know the pros and cons of using blockchain. We are still in the exploratory phase. The question I always ask clients is: What problem are you really solving by using blockchain? I have yet to hear a convincing answer.”

 

To read the article in full, click here.

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Ball Janik LLP was founded in 1982 with six lawyers and a four-person support staff in Portland, Oregon. Since our firm’s inception, we have expanded our capabilities, our professionals, and geographic footprint. What started as a firm focused in real property and land use (known then as Ball Janik & Novack), has grown to include the insights of a team of 30-plus attorneys, with a combined six centuries of experience, and capabilities including Real Estate and Land Use, Construction Defect, Commercial Litigation, Insurance Recovery, Construction and Design, Employment, Finance and Corporate, Public Agencies and Schools, and Community Associations. With offices in Florida and Oregon, our regional growth has earned us a national reputation for upholding the rights of our clients.

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Ciaran P. A. Connelly
Portland, Oregon