Client Cryptocurrency Payments May Pose Ethical Risks for Lawyers

Law firms can accept cryptocurrency as payment or help their clients with initial coin offerings, but they must be mindful of ethics concerns, law firm ethics experts have said.

Cryptocurrencies and ICOs, which have both become popular in recent years, were a key discussion topic on a panel at the Legal Malpractice & Risk Management Conference in Chicago.

Cryptocurrency is a digital currency where transactions are recorded on a public digital ledger called a blockchain and trade on exchanges that operate like stock exchanges. Popular forms of cryptocurrency include Bitcoin and Ethereum. An ICO is a method of funding ...