April 10, 2018 Top Story

Cash or Bitcoin? Ethics Board Approves Technology as Fund Source

Bitcoin acceptable, but beware of associated requirements

Josephine M. Bahn

Litigators now have an additional option to offer clients paying for their legal services. Bitcoin, a digital currency sometimes referred to as "cryptocurrency," transfers value—or "bitcoins"—anywhere in the world.

The Nebraska Ethics Advisory Board has approved the use of law firms accepting Bitcoin due to the uptick in use of digital currencies in other jurisdictions, albeit with strict requirements on when and how the currencies can be accepted. Lawyers should consider the strict requirements that come with accepting digital currencies when considering using them in their practice, caution leaders of the ABA Section of Litigation.

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