Trusted Cryptocurrency Lawyer
Cryptocurrencies like Bitcoin continue to be one of the most successful investments of our time. The draw of average people becoming millionaires has launched cryptocurrencies into the limelight, and their momentum isn’t slowing down.
However, when new technologies emerge, new crimes follow close behind. From stealing cryptocurrencies to hold them hostage to using them to blackmail others. Sadly, because cryptocurrencies are so new, authorities don’t always know how to handle accusations of theft.
That means you need help when it comes to legal issues surrounding cryptocurrencies and cybercrimes.
What You Need to Know About Cryptocurrency
How Do Cryptocurrencies Work?
Bitcoin and its competitors are digital currencies. They are scarce, which is where they get their value. Their scarcity is also why owners are extra protective of their investments. Instead of relying on central banks, cryptocurrencies utilize encryption techniques to verify their funds.
Also, unlike paper money, there is no centralized organization that monitors transactions. Instead, there is a decentralized network that can be accessed by anyone.
The simplest way to think of cryptocurrency is as virtual money. This money is not regulated by a national bank, but by a peer-to-peer network called the blockchain. This system eliminates cheating and gaming the system. It’s anonymous but completely transparent.
A more formal definition of cryptocurrencies involves a system that meets six conditions:
- It does not require a central authority
- It keeps an overview of cryptocurrency units and their ownership
- It defines whether new cryptocurrency units can be created and how units are generated and owned
- Ownership of units can be proved cryptographically
- It allows transactions to be performed to change unit ownership
- Only one instruction for a change of ownership can be performed at a time, even if multiple are submitted simultaneously
Cryptocurrencies use blockchain technology to share its database of transactions. Blockchain is an unchangeable record of transactions. These transactions can only be added to the blockchain if they are confirmed by all entities on the decentralized network. Once a sale is confirmed, it’s combined with others and cannot be altered.
Are There Rules to Follow?
New marketplaces are hardly regulated as well as other products. There are some laws in existence, but they can sometimes be complicated. Just like any other piece or property, it is illegal to steal cryptocurrency or use it for unlawful purposes.
One of the most litigated issues in the crypto-world involves transfers, or when someone sells crypto-coins to another person. The Financial Crimes Enforcement Network urges that Bitcoin transfers should be treated as Money Services Businesses (MSBs). As MSBs, these trades are subject to the rules set by the Bank Secrecy Act, like requiring identity verification when accounts are opened.
These kinds of laws are meant to reduce the use of Bitcoin to minimize money laundering or other illegal activities.
One of the biggest challenges the government faces is if and how law enforcement can trace stolen funds back to a client. This makes it difficult to keep track of how a Bitcoin moves after an alleged theft. Since the blockchain supplies some anonymity, knowing if a stolen crypto-coin can be tied to the accused is extremely challenging.
If you’ve been accused of stealing any kind of cryptocurrency, you’ll want to contact a cybercrime lawyer immediately. Call us to start building a strong defense as soon as possible!
Work with a Team that Truly Understands the Legal Complexities of Cryptocurrencies
Bitcoin and its counterparts exist in a segment that requires unique understanding and skills. Your California cryptocurrency attorney has to understand the complexities that make cryptocurrencies and blockchain work as well as the ever-changing legal landscape in which they exist.
At LibertyBell Law Group, we have a team of cybercrime attorneys who not only understand this emerging tech but have experience with cryptocurrency law. We make it our business to keep up with tech and legal trends that impact defense.
Give Us a Call Today
Call us today at 855-LAW-PRO1 (855-529-7761) for a free consultation with one of our cybercrime lawyers.
Gina Tennen
Founder
At A Glance
- Expert legal strategist.
- Experienced in both prosecution and defense.
- Relentless fighter for her clients with results to prove it.
- Received the National Top 100 Trial Lawyers Award
- Featured in Time Magazine’s “Leaders of Criminal Defense” in the 100 Most Influential People edition.
Executive Managing Attorney Gina Tennen is a renowned leading advocate of personal liberties. Her meticulous trial preparation and exceptional ability to pursue every possible defense has earned her the admiration of clients and respect from prosecutors, judges, and other criminal attorneys all over the nation.
Lawyer Tennen began her career as a Senior Law Clerk for one of the toughest District Attorney’s offices in the country where she gained remarkable experience in juvenile crimes, elder abuse, parole hearings, child abuse, sex and other serious crimes. Her experience at the District Attorney’s Office armed her knowledge and case strategy in exploiting the other side’s weaknesses for the client’s advantage and building a rock solid defense. Criminal attorney Tennen’s experience on both sides and brilliant maneuvering throughout is evidenced in her winning track record. In fact, even before earning her law degree, she was instrumental in getting excellent results on several criminal cases outshining her peers.
A consummate strategist and top criminal attorney, lawyer Tennen works tirelessly on many high profile criminal cases. She is known as a relentless fighter who never gives up on any case. Whether the case is hers or handled by another criminal defense attorney from LibertyBell Law Group, no matter how small the case may seem she asserts that every client deserves the right to the best legal representation.
It is her deep belief and what she has built her entire career and lifelong dedication to that there is always hope for every client and every avenue should be pursued regardless of the time and energy it takes. For criminal attorney, Gina Tennen, devoting the finest criminal defense for clients is a habit and talent that you must apply and do all the time.
You demand the best defense. Take hold of your life and speak to our defense attorneys by calling 855-LAW-PRO1 (855-529-7761) now.
Founder Gina Tennen and all the defense attorneys at LibertyBell Law Group uphold that when the bell rings, it rings for life and liberty for all.
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