Bloomberg Law
Aug. 11, 2016, 8:50 PM UTC

Will Work for Bitcoin, Steptoe & Johnson Says

Gabe Friedman
Freelancer

Many people still view blockchain and the distributed ledger technology that enabled bitcoin and other forms of digital currency as all but impossible to fully comprehend.

Still, it’s an article of faith among believers that blockchain technology will soon revolutionize the world, and a few law firms already have dispatched lawyers to advise companies in this nascent industry on the numerous challenges, which range from whether bitcoin is a property or a currency, accounting and tax treatment and various other issues.

This week, Steptoe & Johnson announced it will soon accept payment in bitcoin.

“We’re counseling other companies about accepting the risks and the challenges and opportunities ...

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