Cryptocurrency: Five Things Legal Practitioners Should Know, Part 3

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Cryptocurrencies have exploded in number and popularity over the last few years, and legal practitioners need to start familiarizing themselves with the essentials

by Matthew Verga, JD, Xact Data Discovery

In the first Part of this series on what legal practitioners need to know about cryptocurrency, we discussed the recent explosive growth and diversification in cryptocurrencies and reviewed what they actually are.  In the second Part, we discussed how cryptocurrencies work and why people use them.  In this final part, we review what’s happening legally and what the discovery implications are.

Four: What’s Happening Legally
Currently, cryptocurrency is facing a wave of new oversight and litigation from a variety of sources, both domestically and internationally.  Over the past year, China and South Korea banned initial coin offerings and China shut down cryptocurrency exchanges.  This year, the EU and its member states are considering taking action.  There is growing governmental interest all around the globe.

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