Attorneys in Perkins Thompson’s Blockchain and Digital Assets Practice Area work with a variety of legal matters involving blockchain technologies, cryptocurrencies, non-fungible tokens (NFTs) and other digital assets. This interdisciplinary practice includes attorneys from our Banking and Financial Services, Trust and Estate Law, Intellectual Property and Technology and Business and Corporate practice groups.
Estate Planning for Digital Assets
Digital assets are becoming an increasing part of client portfolios and estate assets. We recognize the need for estate plans that ensure these digital assets go where you intend. Planning for digital assets requires a knowledge of estate planning plus an ongoing understanding about how these assets are held, transferred, and retitled. We understand wallets versus exchanges, taxes upon death, security strategies, and methods to design secure plans for your loved ones or your charitable intent.
Regulation of Money Transmitters and Money Services Businesses
Companies and individuals who engage in cryptocurrency-related business ventures must often register with the U.S. Department of Treasury as money services businesses or hold state money transmitter licenses. We monitor the evolving federal and state laws that apply in these spaces and can advise clients on their related compliance obligations, which can include the creation and implementation of Anti-Money Laundering (AML) programs.
Contracts & Licensing
We represent many types of blockchain technology participants, from Software-as-a-Service platforms and development agencies to mobile app developers, managed service providers and FinTechs. We prepare the legal documentation to manage providers’ relationships with their customers and users (including Terms of Use and Privacy Policies) and we secure and license the appropriate intellectual rights. We also guide clients on compliance with advertising laws, “dark patterns” interface rules and distribution platform agreements. Our attorneys assist in strategic considerations including the selection of open-source software licenses for proprietary projects and inbound licensing needs.
Perkins Thompson’s attorneys also handle business entity formations in many jurisdictions and can advise on structuring holding companies for certain assets.
Data Protection & Privacy
We help clients comply with the privacy and data protection laws relevant to blockchain technology. Depending on the nature of a company’s business, those laws can include industry-specific laws (such as the Gramm-Leach-Bliley Act and other laws relevant to financial institutions) or general privacy laws that apply to most technology businesses. We collaborate with our network of law firms in multiple foreign countries on projects involving international businesses and data protection.
Non-Fungible Tokens (NFTs)
We advise NFT creators and companies interested in offering NFT-related services. We prepare the legal documentation required to protect all parties’ intellectual property rights, including platform Terms of Use or documentation embedded directly in smart contracts. Our attorneys counsel clients on copyright and trademark registration and licensing issues.
RECENT MATTERS
Our Blockchain & Digital Assets attorneys have recently handled these projects:
- Designed trust & estate plans to protect clients’ cryptocurrency assets.
- Counseled a money transmitter on Anti-Money Laundering (AML) compliance relating to cryptocurrencies.
- Advised a digital payments company on the rollout of an NFT issuance campaign.
- Represented a provider of cryptocurrency wallet software in contract negotiations with video game studios.
- Counseled a Software-as-a-Service provider on copyright and corporate issues relating to its development of a cryptocurrency exchange platform.
- Represented a Fortune 500 financial services firm in negotiations with a bank regarding payment encryption matters.