Blockchain technology has the potential to transform and disrupt many industries, including insurance, retail, real estate, gaming, energy and others. Cryptocurrency, perhaps blockchain’s best known application, is already transforming financial services and banking systems. The advantages and benefits of this technology and its continued rise in adoption are intersecting with growing privacy, regulatory and environmental mandates, which are placing cryptocurrency and related supporting companies in unprecedented legal territory. Phillips Lytle represents blockchain and virtual currency firms in matters involving a plethora of issues that arise regarding mining operations, including land use and permitting, contracts, energy, securities compliance, litigation and privacy and security.
The critical infrastructure supporting Bitcoin mining and data center operations relies upon an energy-intensive process that is garnering increasing scrutiny from regulators and environmentalists. The industry is caught in a complex web of controversy over sustainability, deployment, siting and regulation of mining operations. Sustainable Bitcoin mining is expanding, with mining companies increasingly using renewable energy sources, such as nuclear, hydrogen, geothermal energyopens in a new window or solar to power their operations. New York, with its myriad energy source offerings and other unique attributes, has become the region of focus for Bitcoin miners and the regulation of the related environmental impact. Phillips Lytle has been a leader in emerging markets and environmental law across the Northeast for decades, and our team has distinctive and groundbreaking experience in helping Bitcoin miners navigate through these rapidly evolving and novel regulations.
Our recent experience includes representation of:
With state and federal laws and regulations continuously changing, cryptocurrency and Bitcoin mining companies require the right legal advisors to navigate compliance with regulators and managing risk. We provide a multidisciplinary team with an established track record of guiding clients through emerging legal developments on a regional and national scale. With an exceptional team of development attorneys, regulatory counsel and litigators, and our deep expertise in insurance and financial services representations and disputes, combined with a superior track record in business formation and environmental regulation, Phillips Lytle is assisting clients on all ends of the spectrum. Please visit our Corporate, Environmental, Energy, Venture Capital & Technology, Data Security & Privacy, Securities, Litigation, Insurance Coverage and Real Estate pages for related information.