Blockchain Law Firm Opens its Doors in New York and Washington DC
A blockchain-focused specialist law firm has opened its doors in the US. DLx Law LLP aims to use an experience-based legal assignment model, and will be accepting payment in Bitcoin or Ether.
Exactly What the Industry Needs
There is no denying that there’s a market for blockchain-based businesses in the current uncertain regulatory climate, particularly in the US, for example, where the SEC is coming down hard on startups over registration technicalities. And without a clear document of rights and wrongs to go by, a lot of budding enterprises – as well as established organizations – are finding themselves in hot water over legal compliance.
There is no denying that DLx Law LLP brings valuable experience to the sphere either. The founders blend together experience of the blockchain world and more “classic” securities law. Angela Angelovska-Wilson was previously general counsel and chief compliance officer at Digital Asset, and Lewis Cohen has a large amount of experience as a securities lawyer. The firm are aiming to act as a kind of reflection of the principles of blockchain itself. They are doing away with the concept of seniority and partnership, instead preferring to focus on skills, which, in itself, is a kind of hierarchical decentralization. And they are also investigating the idea of managing client business through smart contracts., although this would need some thinking out, as this kind of structure would in itself fall foul of SEC regulations. Angelovska-Wilson said:
We do feel that the provision of legal services in the blockchain era will be different, and we want to be the thought leaders who develop new ways of practicing law.
And with DLx Law seemingly providing the first service of its kind in the US, they are likely to have their worm cut out over the coming months.
Image Credit: Deposit Photos