International law firm Steptoe & Johnson LLP announced on Tuesday that it has expanded its blockchain law practice into a multi-disciplinary practice. The aim of the expansion is to help clients in all industries learn and prepare their businesses for blockchain applications. Also, the firm announced that it will soon accept bitcoin.
Steptoe’s Blockchain Practice
According to the firm, their clients include investors, entrepreneurs, startups, exchanges, payment processors and retailers. They advise clients on various aspects of blockchain and digital currency such as anti-money laundering compliance issues and regulatory issues. Steptoe noted in its press release:
Steptoe has helped lead efforts to spread the word about the almost limitless possible applications for blockchain technology.
Also, the firm advises Coin Center, the Chamber of Digital Commerce and the Blockchain Alliance, which it co-founded, on legal and regulatory issues. Together with Blockchain Alliance, the firm has conducted educational programs for more than 400 law enforcement officers and regulators from more than 15 countries.
The firm also represents companies being investigated by the US Department of Justice, the Commodity Futures Trading Commission (CFTC), and other government agencies.
Weinstein & Cohn Led the Expansion
Leading the blockchain practice expansion are former Department of Justice Deputy Assistant Attorney General Jason Weinstein and
former Department of Homeland Security Assistant Secretary Alan Cohn.
Weinstein led the DOJ’s cybercrime and organized crime enforcement efforts. While Steptoe serves as counsel to the Blockchain Alliance, Weinstein serves as its director.
We are expanding from serving as counsel to blockchain companies, to serving as counsel to companies affected by the blockchain. What we’re experiencing here is similar to the early stages of the Internet in the 1990’s.
Cohn was responsible for establishing and overseeing the cyber policy office at DHS. They will work with professionals from across Steptoe’s practice groups, the firm revealed.
“We are focusing on the next generation of blockchain and distributed ledger technology applications,” said Cohn. “It is not just about blockchain — it is about applying blockchain technology to your company or business, and making it real and operational while addressing any legal and compliance issues.
In addition, the firm will start accepting Bitcoin for payments, according to the company’s press release:
In addition to expanding the blockchain practice, Steptoe will soon accept Bitcoin as payment for fees.
What do you think of Steptoe’s blockchain practice expansion and its decision to accept bitcoin? Let us know in the comment section below.
Images courtesy of Steptoe, rsaconference.com, money2020.com, leap.utah.edu