Law firms are increasingly accepting cryptocurrency as payment for services – this might seem innovative and forward thinking, but ironically, it is much more of a throwback.
Given that the U.S. Internal Revenue Service does not yet classify cryptocurrencies as legal tender, cryptocurrency is instead “property.” This means that lawyers accepting cryptocurrency are more akin to famed lawyer (albeit fictional) Atticus Finch than famed bitcoin creator (albeit quasi-fictional) Satoshi Nakamoto.
‘Enforcement 40’ for 2020
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