Compliance » The Basics On Bitcoin For Corporate Counsel

The Basics On Bitcoin For Corporate Counsel

June 2, 2015

McGuireWoods attorneys make the case that bitcoin – “seen everywhere from SEC filings, to state legislature hearings, to an episode of The Good Wife” – is a phenomenon that corporate counsel are obliged to understand, and with that in mind they have written a white paper on the subject. There are currently millions of bitcoin “wallets,” and the IRS has recognized the phenomenon by declaring that bitcoins transactions are subject to tax, with bitcoins being treated as property. A serious look at a phenomenon the writers call “sophisticated, practical and disruptive.”

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