Don’t Let Bitcoin Regulators Get You Down
Atlas Law Group works to find solutions by building compliance into your business model BEFORE the regulators are after you.
Starting a new business is a stressful process. Throw in the fact that our clients are in the technology space where life moves at the speed of data and regulators often attack first and investigate later – it’s no wonder that you can end up feeling lost. Through careful planning and strategic corporate structuring, our clients avoid many of the pitfalls that similar technology startups endure.
Regulation in the bitcoin and digital currency space has taken several forms. Federal regulators have acted fairly quickly to address many of the burning questions this novel technology has presented. Unfortunately, depending on which entity you are looking into, the answers are conflicting. The IRS treats digital currency as property, similar to gold. FinCEN on the other hand views digital currency and bitcoin as “real” currency. So which is it? If the uncertainty created by Federal Regulators isn’t enough, individual states are weighing in the on the issue as well. It’s well known that New York has created a “BitLicense.” Colorado on the other hand has yet to formally address the problem.
To learn more about what Atlas Law Group can do for your business, or to lean more about bitcoin regulations, contact us now.
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