Many people are talking about Bitcoin and for very good reason, an industry known as cryptocurrency which are a collection of digital assets designed to work as a medium of Exchange that uses cryptography to secure transactions have now totally become a thing.
The dream of becoming a Bitcoin millionaire or for young developers to start their own blockchain is no longer only the ultimate goal for nerds and cypherpunks exclusively, the cryptocurrency Bonanza is now starting to reach for the mainstream consciousness especially in places like mass media and Wall Street.
The cryptocurrency atmosphere is dynamic and ever-changing. 3 months watching crypto in the cryptocurrency bubble can feel like a year, it is my belief that time becomes compounded when a user is extra focused on crypto as of the sheer amount of information available are a definite distraction cryptocurrencies provide for the mind. The way I described cryptocurrency almost sounds therapeutic or romantic nevertheless cryptocurrency presents a range of challenges and being one of the most dynamic valued Industries in the world there are so many details to understand about cryptocurrency from the perspective of a technical analysis to the development of new protocols all the way across the spectrum to the laws that govern these kinds of advancements in technology. For any new person jumping into cryptocurrency for the first time or for a group of developers who are considering tackling problems presented by other blockchains when trying to innovate their own, can often be found scratching their heads trying to understand cryptocurrency law and ponder how it applies to governments around the world and in the US. These laws can difficult to try and interpret when trying to release a new ICO or when trying to establish a blockchain and considering how this will affect users in a given region of the US and the laws applying to that kind of a venture.
US Constitution has clearly not yet properly defined blockchain or cryptocurrency boundaries or requirements and this constitution often contradicts itself where digital currencies are concerned. For residents living in the United States who want to access a new resource directly related to digital currencies can now log on to Bitcoinlawhub.com a website that is a bare bones legal resource that does not offer airtight legal advice however if used as a guideline can be very helpful for gaining perspective when information is not readily available or easy to find. Although this is just an introduction to US law and the way it affects cryptocurrency this resource is still an excellent starting point for amateurs who desire to be educated about the topic.
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The website Bitcoinlawhub.com was created by a husband-and-wife team, Dave and Susan Berson. Susan is a tax attorney and Dave is an cryptocurrency Enthusiast who spent over 20 years as a business and banking attorney. The couple have a rich history in relation to digital currency when back in 2013 Susan authored the very first article on digital currency that was published in the American Bar Association Journal magazine. Susan has also put in a great deal work on the American Bar association's subcommittee for virtual currency of its official tax comments about the IRS guidance of the taxation for virtual currencies. Needless to say this is a resource that would not hurt to bookmark just in case share with your friends if they are ever looking for some basic knowledge about the do's and don'ts for cryptocurrency from a legal perspective.
This resource is not meant to replace the advice of a specialist attorney so people who are running an ICO should not rely on this information exclusively, nevertheless this is a great place to start for anybody who has pondered a blockchain based Venture in the United States. The site Bitcoinlawhub.com includes information pertaining to bankruptcy, Commodities, estate planning, Securities and tax. With the SEC starting a Witch Hunt for tokens that are wolves dressed in sheep's clothing masquerading as a utility, nobody wants to end up like Localbitcoins.com who recently ran into some trouble and are being prosecuted for operating without a money transmitting licence, realistically there has not been a better time for this kind of a resource to emerge. In conjunction with the latest US tax law amendments, which have a bearing on bitcoin holders , brushing up on cryptocurrency law is never going to be a bad idea. One day this information could save your business, as well as your Bitcoin investment more importantly.
Check out: http://bitcoinlawhub.com/
If you have any other resources for understanding cryptocurrency law, or you have any general feedback, I look forward to reading your comments in the section below
Thanks for taking a second check out this post all the best in the New Year's for 2018
