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Federal Compliance And Experienced Cryptocurrency Lawyers

At Traverse Legal, LLC, our team of experienced cryptocurrency lawyers is well-versed in the legal and regulatory frameworks of digital assets. We stay up-to-date with the latest developments and changes in federal laws to ensure that our clients receive the best possible guidance and protection.

Federal compliance is necessary for cryptocurrency. Failure to comply with the relevant regulations can result in severe consequences, including fines and even criminal charges. That’s why it’s essential to work with an attorney who understands relevant federal laws and compliance issues.

Our experienced cryptocurrency lawyers can assist in ensuring that your cryptocurrency activities comply with federal laws, including: 

By engaging the services of our experienced attorneys, you can know you are proactively addressing any potential compliance issues. We will ensure you understand your responsibilities and assist you in implementing the necessary systems and protocols to stay compliant.

Cryptocurrencies have changed the way that we do business, and we are only in the early innings of the game. Crypto has gone from being a curiosity to a mainstream form of payment. Today, the market cap of global cryptocurrencies tops $1 trillion. Bitcoin and Ethereum alone make up three-quarters of a trillion dollars of market cap.

As cryptocurrencies take hold, there are many legal issues you need to contend with. Since crypto is such a new area, there may not be any sure answers. Many legal issues are novel, and you need an experienced lawyer who is well-versed in the area. A crypto attorney could help you anticipate legal issues and deal with the ones that arise. Crypto law spans numerous disciplines and practice areas. At Traverse Legal, we take a broad-based approach to help our clients.

Enrico Schaefer

Founding attorney Enrico is a seasoned consultant who guides companies, including law firms, in effectively integrating artificial intelligence (AI). With a wide range of consulting services, Enrico assists clients in harnessing the power of AI while ensuring ethical and responsible implementation.

Years of experience: 35+ years

Why are cryptocurrencies so popular?

What is it exactly that makes these digital currencies so popular? The answer lies in the unique benefits they offer.

Cryptocurrencies provide a decentralized and borderless form of currency. Unlike traditional currencies that are controlled by central banks, cryptocurrencies operate on a peer-to-peer network. This means that transactions can be made directly between individuals, eliminating the need for intermediaries such as banks. This decentralization gives users more control over their money and reduces the risk of censorship or government interference.

Another reason for the popularity of cryptocurrencies is their potential for high returns. Many early investors in cryptocurrencies have seen their investments multiply, creating a sense of excitement and opportunity among those looking to get in on the action. With a wide range of cryptocurrencies to choose from, investors have the chance to diversify their portfolios and potentially capitalize on the growth of this emerging asset class.

Furthermore, cryptocurrencies offer a level of privacy and security unmatched by traditional financial systems. Transactions made with cryptocurrencies are pseudonymous, meaning that users can maintain a level of anonymity. Additionally, the use of cryptographic techniques ensures the security and integrity of transactions, protecting users from potential fraud or hacking attempts.

It’s no wonder that so many individuals are turning to cryptocurrency lawyers for guidance and support in navigating this exciting and ever-evolving space.

 

Crypto Law Is Rapidly Evolving

Laws and regulations for the cryptocurrency industry are rapidly changing. The problem is that there is no one set law that states which regulator is responsible for what. As a result, you have a patchwork of regulations and, sometimes, overlapping regulations. There are different federal agencies involved, and states sometimes have their own rules.

In addition, the regulatory landscape is continuously shifting as crypto becomes more mainstream. When there is a new and revolutionary industry, regulators often struggle to catch up, but when they do, they can impose all sorts of new rules. Interpretations can change by the day, and you need a lawyer who keeps abreast of all the recent developments and is able to tailor their legal advice to you accordingly.

 

How can I protect my cryptocurrency investment?

Investing in cryptocurrency brings both excitement and risk. As the crypto market continues to soar, ensuring the security of your investment becomes critical. Hiring a reputable cryptocurrency attorney can provide you with the guidance needed to protect your cryptocurrency assets.

One of the main concerns for cryptocurrency investors is the threat of cyber-attacks and hacks. Our attorneys have experience in cryptocurrency law and know the legal and regulatory framework surrounding digital assets. We can assist you in implementing robust security measures and protocols to safeguard your investment from unauthorized access.

We also can help you with cryptocurrency compliance. As mentioned, the regulations regarding digital assets are evolving, and it’s essential to stay compliant with the ever-changing laws. By working with our attorneys, you can ensure that your investment activities are all lawful, minimizing the risk of legal complications or penalties.

 

Tax Considerations for Crypto

Cryptocurrency is also subject to federal and state income tax rules. There are unique considerations for crypto tax issues. Again, the IRS gives regulatory guidance about taxation issues that you must know, so you can plan accordingly. Income tax returns can be highly complex when you accept payment or pay in cryptocurrency.

Crypto is taxed as income, and it is a taxable event when you sell it. One of the key issues is whether crypto is taxed as a long or short-term asset. Your crypto attorney will know in detail how the IRS treats crypto to give you advice for your tax planning.

 

Federal compliance and experienced cryptocurrency lawyers

At Traverse Legal, LLC, our team of experienced cryptocurrency lawyers is well-versed in the legal and regulatory frameworks of digital assets. We stay up-to-date with the latest developments and changes in federal laws to ensure that our clients receive the best possible guidance and protection.

Federal compliance is necessary for cryptocurrency. Failure to comply with the relevant regulations can result in severe consequences, including fines and even criminal charges. That’s why it’s essential to work with an attorney who understands relevant federal laws and compliance issues.

Our experienced cryptocurrency lawyers can assist in ensuring that your cryptocurrency activities comply with federal laws, including: 

By engaging the services of our experienced attorneys, you can know you are proactively addressing any potential compliance issues. We will ensure you understand your responsibilities and assist you in implementing the necessary systems and protocols to stay compliant.

 

Cryptocurrency Offerings

Cryptocurrency investments may fall under federal securities law. Then, you would need to follow the Securities Act of 1933 and SEC regulations. In addition, investments in crypto could require fund registration, or they may invoke the oversight of the Commodity Future Trading Commission.

You have potential liability in a crypto offering when it is considered to be a security. You could always be sued under federal anti-fraud law. There are always lawsuits in this area. When you hire an attorney to help with your cryptocurrency offering, you can reduce your chances of being held liable. An attorney can help you properly structure your offering and ensure that you have made all the necessary disclosures properly.

 

Disputes and Litigation

Like any new disruptive technology, there are often novel legal disputes involved with crypto. Although crypto litigation reached its height in 2022 with the market  crash, the number of cases has again skyrocketed recently in light of the high-profile FTX bankruptcy. Here are some examples of disputes that have reached litigation or arbitration:

  • Accusations of fraud in securities law offerings
  • Crypto accounts being frozen
  • Bankruptcy involving crypto exchanges
  • Class action litigation for violation of consumer protection statutes
  • Lawsuits under tort theories, such as negligent misrepresentation
  • Breach of contract claims

Crypto disputes are increasingly being sent to arbitration. For some, this is a more cost-effective way of resolving disputes when time is of the essence. Regardless of where your case is decided, you need a knowledgeable and tough attorney to argue your position.

 

Anti-money Laundering Compliance

When you have customer accounts that hold crypto, you have additional regulatory obligations. There are federal anti-money laundering laws and regulations that you must follow. However, existing federal laws do not neatly fit crypto. In addition, you may have a legal obligation to know your customer. Federal AML rules can be complex, and they require an experienced attorney to help you develop policies and procedures to follow them. There may be additional regulations about money transfer, both at the federal and state level, that you would need to follow. What raises the stakes for AML compliance is that you could even be subject to criminal penalties or large fines.

 

Contact a Crypto Law Attorney Today

If you do business in cryptocurrency, you cannot afford to be without legal counsel. The attorneys at Traverse Legal are knowledgeable in blockchain and crypto issues, and we can help our clients in this emerging area. You can schedule an appointment to speak with one of our lawyers by sending us a message online or calling us today at (866) 728-2197.

Traverse Legal’s Attorneys are globally recognized for their experience and results in the legal areas of: Complex Litigation, Internet, Trademark, Copyright, Cybersquatting, Drone, Defamation, Trade Secret, Non-Compete, and Business Law.

Contact our experienced Internet & Trademark lawyers


 

FAQ’s About Our Cryptocurrency Lawyer Service

How does Traverse Legal navigate the rapidly evolving legal landscape of cryptocurrency?

The world of cryptocurrency is constantly changing, with new laws and regulations being introduced regularly. At Traverse Legal, we stay at the forefront of these developments to ensure that our clients are always aware of the latest legal requirements and best practices. Our team of skilled attorneys is well-versed in cryptocurrency law, and we continuously monitor and adapt to changes in the industry to provide our clients with up-to-date advice and guidance. Whether you need assistance with compliance, structuring your cryptocurrency offerings, or resolving disputes, our team is here to help you navigate the complex legal landscape of cryptocurrency.

What tax considerations do cryptocurrency owners face and how can Traverse Legal assist?

As a cryptocurrency owner, understanding and complying with tax regulations is crucial. Cryptocurrency is subject to federal and state income tax rules, and failure to report your cryptocurrency transactions accurately can result in penalties and legal consequences. At Traverse Legal, our experienced attorneys can assist you in understanding your tax obligations as a cryptocurrency owner. We can help you determine how your cryptocurrency transactions should be reported on your tax returns and ensure that you are compliant with the relevant tax laws. With our guidance, you can navigate the complex tax landscape and minimize your tax liabilities.

How can Traverse Legal help in structuring cryptocurrency offerings to comply with federal securities law?

Cryptocurrency investments may fall under federal securities law, and it is essential to ensure that your cryptocurrency offerings comply with these regulations. At Traverse Legal, we have extensive experience in structuring cryptocurrency offerings to comply with federal laws and regulations. Our team can assist you in understanding the legal requirements and structuring your offerings in a way that aligns with the securities regulations. We work closely with our clients to ensure compliance and provide guidance on the necessary documents and disclosures required for legal and regulatory compliance.

What are the common types of disputes in the cryptocurrency space and how does Traverse Legal handle them?

With the increasing popularity of cryptocurrency, disputes in this space are also on the rise. From fraudulent ICOs to disputes over ownership and trading issues, cryptocurrency-related disputes can be complex and challenging to resolve. At Traverse Legal, our skilled attorneys have extensive experience in handling cryptocurrency disputes. We leverage our experience and knowledge of the industry to provide effective legal representation and strategies tailored to the unique circumstances of each case. Our goal is to protect the rights and interests of our clients and guide them towards a favorable resolution.

What anti-money laundering compliance requirements are relevant to cryptocurrency, and how does Traverse Legal assist with compliance?

Federal compliance, including anti-money laundering (AML) and know-your-customer (KYC) regulations, is necessary for cryptocurrency-related activities. Traverse Legal understands the importance of AML compliance in the cryptocurrency space and can assist you in ensuring that your organization is in compliance with the relevant regulations. Our attorneys can provide guidance on establishing robust AML and KYC policies, as well as assist you in implementing the necessary compliance measures. By working with Traverse Legal, you can navigate the complex AML compliance landscape and protect your organization from legal and regulatory risks.

 

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This page has been written, edited, and reviewed by a team of legal writers following our comprehensive editorial guidelines. This page was approved by attorney Enrico Schaefer, who has more than 20 years of legal experience as a practicing Business, IP, and Technology Law litigation attorney.