Michael Best Senior Counsel Cheryl Aaron was published in Lex Mundi’s Blockchain White Paper Series in the article titled, “Accepting Payment in Bitcoin: Considerations for Merchants.” In her whitepaper article, she discusses issues to be aware of if you are a business considering accepting cryptocurrencies, such as bitcoin, as payment. Cheryl analyses volatility, tax implications, as well as rules and regulations to be sure to follow. She writes:
“Before businesses and online retailers accept cryptocurrency as payment, a thorough analysis is necessary to determine whether the potential benefits outweigh the inherent risks and costs, and what the legal ramifications are.”
To read the full whitepaper, see: Accepting Payment in Bitcoin: Considerations for Merchants.
To see the full series, see: Lex Mundi Blockchain White Paper Series.