Blockchain & Digital Assets

Blockchain technology, cryptocurrency, non-fungible tokens (NFTs), and other digital assets are quickly gaining interest and investment. As complex issues arise from their increasing adoption, Alston & Bird brings to bear a focused, multidisciplinary team of lawyers offering businesses a wealth of knowledge and experience across a broad range of services and industries to advise on the complexities of this growing space.

Cryptocurrency and blockchain technology are being adopted by consumers, retailers, institutional investors, and even sovereign nations. With the advent of altcoins, stablecoins, and smart contracts, blockchain technology is being used to create a decentralized system of finance (DeFi) that affects and continues to disrupt many areas of traditional and global finance and other related markets. As more cryptocurrencies and digital assets are developed, accepted, and used, Alston & Bird’s team of subject-matter experts are experienced and uniquely qualified to counsel and educate clients on the widespread legal, regulatory, and related issues in this space. Our work includes advising investment funds, trading and investment platforms, tokenization, and regulatory licensing. 

• Providing advice to a digital asset marketplace about payments regulatory matters, including application for money-transmission licenses where applicable, and about securing necessary payments and cryptocurrency and exchange licenses in the UK and EU. Also advising on the marketplace’s potential conversion to a national trust bank charter. 
• Advising a global blockchain technology company with a managed account product focused on crypto-assets. 
• Advising a Europe-and-Asia-based cryptocurrency exchange on the expansion of its operations into the United States. Advising on broker-dealer regulatory issues, state money transmission laws, Bank Secrecy Act compliance, and general corporate governance in the burgeoning crypto-asset exchange industry. 
• Advising an Asia-based cryptocurrency exchange on the expansion of its operations into the United States. Advising on broker-dealer regulatory issues, state money transmission laws, Bank Secrecy Act compliance, and general corporate governance in the burgeoning crypto-asset exchange industry. 
• Advising a large art dealer offering NFT auctions on compliance with international anti-money laundering laws, know your customer laws, implication of decentralized autonomous organizations (DAOs) participating in the NFT auctions, technical aspects of receiving payments in Ethereum, and transfer of the NFT to the successful bidder’s digital wallet.
• Advising numerous companies from various sectors on unclaimed property issues associated with cryptocurrency and digital assets. 
• Advising various platforms on the state tax issues associated with blockchain-related technologies, including NFTs.
• Advised financial institutions and fiduciary companies on compliance with IRS and FinCEN disclosure requirements for cryptocurrency holdings, NFTs, and other digital assets.
• Represented and advised numerous individual investors in cryptocurrency and digital assets on federal income tax consequences and federal tax disclosure requirements.