From currencies and contracts to building the foundations of entire organizations, blockchain is creating new ways of exchanging information and digital assets with fewer middlemen. Unsurprisingly, blockchain technologies have also increasingly attracted the attention of regulatory agencies and large business interests. The number of blockchain-related regulations is swelling to enormous proportions while the jurisdictional boundaries drawn by regulatory agencies don’t always withstand the scrutiny of the courts.
For blockchain users, investors, and innovators, this means a fair amount of time must be spent analyzing the legalities of their industry. This is a double-edged sword, because, on one hand, it empowers them to pare down to the actual promulgated laws that govern their trade or publicly traded assets, which are not always as they are presented in public discourse. On the other hand, it leaves all of their work susceptible to major interference, depending on which way the regulatory winds blow in any given year.
There are still many legal gray areas affecting the blockchain and cryptocurrency domain. This is why you need the best cryptocurrency lawyer New York has to offer. Although the blockchain was built for decentralized use by design, it hasn’t prevented certain governmental interests from trying to exert control over at least some aspects of it. It’s therefore almost always in one’s interest to obtain legal counsel before, and especially during, any interactions with regulatory agencies. Lawyers experienced in financial asset protection and blockchain technologies can help you heed regulations as needed, and without forfeiting your rights and digital assets.