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Why Lawyers Shouldn't Accept Fees In Cryptocurrency: Part 1

Law360 (June 13, 2018, 12:54 PM EDT) -- Law firms are increasingly accepting cryptocurrency as payment for services. While this might seem innovative and forward-thinking, ironically it is much more of a throwback.

Given that the IRS does not yet classify cryptocurrencies as legal tender, cryptocurrency is instead “property.” This means that lawyers accepting cryptocurrency are more akin to famed lawyer (albeit fictional) Atticus Finch than famed bitcoin creator (albeit quasi-fictional) Satoshi Nakamoto.

Much like today’s law firms who accept cryptocurrency from clients, Atticus Finch, the country lawyer of Harper Lee’s “To Kill a...
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