January 01, 2018

How Do Cryptocurrency and Blockchain Work and What Are the Legal Implications?

Selena E. Molina

Cryptocurrency and blockchain technology is rapidly evolving and impacting many fields in the legal industry. Since the emergence of bitcoin in 2009, cryptocurrencies and blockchain technology continue to grow in popularity and new cryptocurrencies have emerged on the scene (e.g., Litecoin, Ethereum, Dash, and Ripple). Despite cryptocurrency and blockchain technology’s growing popularity, it is gaining the critical attention of regulators, businesspeople, and lawyers. (See Jason Tashea, ABA House of Delegates Approves Novel Virtual Currency Draft Legislation, Feb. 9, 2018).

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