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Robert A. Schwinger Robert A. Schwinger

As Bitcoin and other virtual currencies, cryptocurrencies and digital assets become more commonly used in ordinary commercial transactions, it is perhaps inevitable that attorneys increasingly will seek or be asked to take payment in this form, or to hold such assets in escrow or trust. Some states thus have begun to consider whether legal ethics rules impose any restrictions or limitations on attorneys’ ability to do so. In recent years, ethics opinions addressing such questions have been issued in Nebraska, New York and most recently Washington, D.C. In addition, regulatory requirements beyond the rules of legal ethics can also sometimes affect what attorneys can and cannot do in this area.

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