Hynes Law Group recognizes the importance of emerging technology and how it shapes the world. As such, we are pleased to announced the establishment of the Hynes Law Group Emerging Technology Group, primarily focused on Digital Currency and Blockchain Law.
What is Blockchain? Blockchain is a secure digital ledger in which transactions are recorded chronologically and publicly.
What is Cryptocurrency/Digital Currency? Cryptocurrency is a new, and highly unregulated asset class.
What Do We Do? Our Digital Currency and Blockchain Technology practice was established in September of 2017, while most people still hadn’t heard the terms cryptocurrency or blockchain. While our primary focus is on digital assets and proper estate planning for same, we have advised clients in the proper an convenient storage of digital assets (such as Bitcoin, Ether, XRP (Ripple), and others), and assisted clients with planning for the various regulatory hurdles related to making the leap into the Digital Currency space.
While this new currency remains an unknown to the majority of individuals and businesses, we believe that as the regulatory environment begins to shape and clear regulations begin to come to light, a spark will be lit, leading to the mass use of digital currencies and blockchain in our everyday lives.
While it is clear that most state and federal laws governing securities, currencies, commodities, etc., were not prepared for digital currencies, our country is beginning to turn the corner towards recognizing the importance and the vital role that they will play in our society.
Our firm has assisted in many facets of the digital currency and blockchain space, from helping individuals to plan for digital currencies in their estate plans and tax plans, to assisting businesses with best practices for holding digital assets on their books, to assisting start ups and small businesses with planning for the creation of their own Digital Currency and many of the securities and taxation issues that come along with it.
Our Clients generally fall in one of the following categories:
- Digital Currency Estate and Tax Planning: we advise individuals and companies with regards to the current estate and tax implications that come along with digital currencies.
- Digital Currency Creation, Issuance, and Investment: We advise individuals and entities creating or issuing tokens, commonly referred to as initial coin offerings or token generation events
- Conduct Impact Assessments of the Digital Currencies and their relation to various laws such as securities and other related laws