Offit Kurman Attorneys Host International Blockchain Real Estate Association Meetup
September 19, 2017 | Bethesda, MD On September 13th Offit Kurman attorney Edward Tolchin (Government Contracts) hosted a MeetUp at WeWork in Dupont Circle, on the ways in which Bitcoin/Blockchain will impact the many different aspects of the real estate industry. Blockchain is an incorruptible digital ledger of economic transactions. Information held on a blockchain exists as a shared database. Jerry Brito, executive director of Coin Center, a leading non-profit focused on the policy issues facing cryptocurrencies, discussed the state of cryptocurrency regulation and described Coin Center’s policy priorities.
“Blockchain technology is being used to solve today’s thorniest business and technical problems. Legal issues arise because regulatory and legal norms on which we operate predate the new blockchain solutions by years or even decades,” said Ed Tolchin.
The new technology opens up a world of currency exchange possibilities, but also brings about many questions. Should blockchain cryptocurrencies, like Bitcoin, be classified as money or a capital asset? How should investment vehicles existing only on a blockchain be regulated? Can securities and licensing laws be harmonized with this new distributed ledger way of doing business? Mr. Tolchin added, “Offit Kurman’s attorneys have the background and skills to help you navigate through these types of questions.”
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