![]() The potential volatility of digital money has recently been in the news as Bitcoin seemed particularly vulnerable to public comments by Tesla founder Elon Musk, raising questions about its stability. Individuals can get cryptocurrency by buying it or, in the cases of some, like Bitcoin, by mining it - miners use powerful computers to compete to win currency by being the first to solve complex math problems that verify transactions. They are, perhaps, best known as investment vehicles, with owners buying and selling as a currency’s value rises and falls. The currencies can be used to buy goods and services (although their acceptance is not widespread). They make use of blockchain technology, a massive, decentralized network of computers that keeps track of transactions. Bitcoin, trading around $10,000 during the late summer and into the fall, reached a peak over $63,000 in April before losing nearly half its value in recent weeks.įor the uninitiated, cryptocurrencies are digital money that derive their name from the fact that encryption is used to keep them secure. ![]() Recently, Dilendorf Law Firm released an article providing additional use cases where cryptocurrency expert witness opinions may be critical.Swings in the value of cryptocurrencies like Bitcoin in recent weeks have turned the media spotlight on digital money and left investors who were giddy from this winter’s rapid gains downcast as values came back to earth. Dilendorf's recent speaking engagements have included the Thailand SEC, IBM, Berkshire Hathaway, and New York University, to name a few. His expertise has also made him one of the top cryptocurrency consultants for Fortune 500 companies. is also a top forensic Bitcoin and crypto expert witness. KYC/AML compliance measures taken at each point of the funds' journey by clients and third parties, including crypto exchanges and OTC traders.mechanism and sufficiency of digital wallets, private cryptographic keys, crypto trading platforms and accounts establishing ownership of the clients' cryptocurrency funds.origin and flow of cryptocurrencies funding the EB-5 investments.legality of the specific digital assets and regulatory framework for the involved financial institutions dealing with cryptocurrencies. ![]() The firm's clients were software engineers and early cryptocurrency adopters who, in the opinion of the crypto compliance law firm, are legally qualified for obtaining EB-5 investor green-cards, as there was little doubt on the legality of the source of the clients' cryptocurrency funds.ĭilendorf's legal opinions and blockchain forensic reports, as submitted to the USCIS, included an expert assessment of the following: By submitting blockchain and cryptocurrency expert reports in these cases, the firm has provided evidence to support the legitimate "source of funds". The Dilendorf Law Firm, NYC's top law firm for the digital age, represented several clients in EB-5 matters with the USCIS concerning the clients' EB-5 investments funded with cryptocurrencies. Yet, in an unprecedented approach that included forensic reporting analysis, attorney Max Dilendorf provided an expert legal opinion and due diligence report proving that a green card applicants' source of funds met the standards to be qualified under this program.īecause USCIS only requires a "preponderance of evidence" showing the legal acquisition of investment funds in EB-5 petitions and offers little guidance for applicants whose funds originated in cryptocurrency, Dilendorf's confirming evidence was a significant achievement. ![]() NEW YORK, Ma/PRNewswire/ - The United States Citizenship and Immigration Services (USCIS) has frequently denied EB-5 applications that list Bitcoin exchange-traded-funds as a legitimate "source of funds". ![]()
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