Blockchain, Digital Currencies & Smart ContractsOverviewAs the use of distributed ledger technology (DLT) and smart contracts becomes more prevalent, and as digital currencies gather international attention, Michael Best’s Blockchain, Digital Currencies & Smart Contracts team is here to help your company adopt, invest in, create technological solutions around, and navigate the regulatory landscape of blockchain and DLT. Michael Best attorneys are uniquely positioned to provide legal counsel regarding DLT and its many potential uses. We have assembled a multi-disciplinary team of blockchain experts who will help your business take full advantage of this exciting technology - whether it’s protecting your intellectual property, getting your blockchain start-up up and running, assisting your business in accepting bitcoin payments, facilitating an initial coin offering, or helping you understand what the regulatory landscape looks like in your industry. Our team has both the technological and legal expertise to help your business compete and succeed in this area. Experience
- Advise a creator of online gaming platform on the issuance of virtual currency, which can be used within the game or on third party platforms, and on the application of federal (FinCen) and state money transmitter laws to the creator's gaming platform.
- Advise companies in the banking and finance sectors on the legal, regulatory and business implications of adopting blockchain technology.
- Engage with policymakers, federal agencies, and entities in the private sector, to educate them about our client, who is a provider of blockchain and AI technologies, and identify and build out business opportunities and relationships.
- Represent a digital currency trading brokerage firm, which will provide trade quality and customer-focused tools and technology to help customers to become successful digital currency traders. We assisted the entity with their application to the U.S. Securities and Exchange Commission (SEC) to become an alternative trading system, and in their communication with the Financial Industry Regulatory Authority (FINRA) for approval, and are assisting them in applications to become a money transfer business in all 50 states.
- Defended a digital currency trader in a dispute with the client’s trading partner, a large player in the cryptocurrency market. After negotiating a trade, our client discovered he had been hacked and lacked the necessary cryptocurrency to complete the trade. Anticipating delivery from our client, the plaintiff negotiated subsequent trades with third parties and suffered substantial financial losses purchasing the replacement cryptocurrency needed to cover those trades. We successfully argued that the plaintiff had not followed the protocol set forth by its own trade agreement, which it had required our client to sign. Because the trade agreement established requirements for executing a trade, including a time frame and manner for acceptance that plaintiff did not follow, our client successfully avoided liability.
Related People Preview Attorney's BiographyDC is a Partner in the firm’s Corporate Practice Group. In addition to providing general corporate representation to emerging growth companies, his practice focuses on working with companies and investment funds during all stages of their lifecycle, including structuring and negotiating mergers and acquisitions, debt and equity financing transactions, formation of special purpose vehicles, and recapitalizations and reorganizations.  Preview Attorney's BiographyDave is a skilled and entrepreneurial-minded attorney who focuses on helping start-up and early growth companies with all of their business needs.  Preview Attorney's BiographyKieran advises entrepreneurs on a range of business matters including formation and governance and helps them navigate the regulatory environment. He also prepares and negotiates contracts including employment, noncompete, confidentiality, vendor/supplier, and other agreements. He counsels businesses from a wide range of industries, with a particular focus in the areas of technology, finance, and cannabis.  Preview Attorney's BiographyIqan advises clients on securities and financial services regulation. Clients appreciate Iqan’s commitment to keeping them compliant with the laws governing capital raising, brokerage and investment services, blockchain technology, crowdfunding, and anti-money laundering.  Preview Attorney's BiographyAs a Partner on the Michael Best Strategies' federal government relations team with over ten years of experience, Sarah brings a strong legal background and understanding of where law and policy intersect.  Preview Attorney's BiographyKyle’s outstanding track record in patent law is built on successful outcomes in patent litigation, drafting and prosecuting patent applications, and patent portfolio management. Clients value his insights and experience in the following technical areas mechanical and electromechanical devices, manufacturing systems and methods, pneumatic and hydraulic systems, as well as optics, lasers, and designs.  Preview Attorney's BiographyBrad counsels clients on mergers and acquisitions, federal and state securities law compliance, forming and financing startup businesses and matters relating to the sale of cryptocurrencies and digital tokens. He has extensive experience in private placements and other private securities transactions, Rule 506 offerings, and corporate governance matters.  Preview Attorney's BiographyMolly is experienced in all phases of obtaining patent protection both in the United States and internationally. Her patent prosecution and patent clearance practice is focused on computer software and hardware technologies, including imaging systems and applications (including computed tomography and radiographic image creation, analysis, and management), cryptographic and security applications, financial transaction processing, wireless networks and communication protocols, web-based applications and business methods. Preview Attorney's BiographyEmily represents emerging companies, founders, and investors at the intersection of law, technology, and venture, assisting clients through various stages of start-up development, from initial capitalization, to venture capital financing, to exit. She has experience working with clients in various industries, including the finance and banking, agtech, and fintech sectors.
Before joining Michael Best, Emily was an associate at a general practice law firm based in the Midwest. She served as outsi ...
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