Michael Best Partners Brad Jacobsen and Evan Strassberg’s article, “Regulation of the Unregulated: How Bitcoin and Cryptocurrencies Show that the Government Can Regulate Anything” was featured in Westlaw Journal on June 11, 2018.
“Bitcoin was born shrouded in mystery. Using the alias Satoshi Nakamoto, an anonymous creator sought to produce an electronic asset that could be exchanged worldwide without the involvement of any central governmental banking system. The exchange of a “thing of value” would not require banks or trust in another party. Instead, it would rely on an unregulated, uncontrolled, independent, non-hackable verification system. Since bitcoin by its very nature was not being supported by any government or entity, it was not subject to established laws.”
To read the entire Westlaw Journal article, click here.