Bitcoins have become a popular topic of discussion recently, as lawmakers and regulators address the complex questions revolving around this digital currency.
Bitcoins have become a popular topic of discussion recently, as lawmakers and regulators address the complex questions revolving around this digital currency. For example, the virtual Bitcoins are now being used more frequently by online sports gamblers to wager on professional and college sports, as the anonymity gives sports gamblers a chance to circumvent federal anti-betting laws, according to Yahoo Sports.
Bitcoin technology is fully encrypted and managed by an expansive, but de-centralized, network, making it difficult for government officials to track their usage, the news source reports. The complexity of the encryption also makes the Bitcoins nearly impossible to trace, especially as they become more mainstream.
In addition, the unexpected emergence of the Bitcoin as a potential gambling tool is still fresh, meaning that a finite set of sports law provisions governing the use of the digital currency may not be in place.
The elusive Bitcoins have already been implicated as a facilitator in several categories of crime, ranging from arms and narcotics deals to sex trafficking. In a recent story detailing how Bitcoins can be used for drug purchases, Senator Chuck Schumer called the currency an “online form of money laundering,” the Washington Post reports.
As the currency gains more of an online presence and serves as a channel for circumventing sports gambling and other types of laws, regulators are struggling to create legislation to define and govern the use of the popular technology.
Special purpose acquisition companies (better known as SPACs) appear to be making a comeback. SPAC offerings for 2025 have already nearly surpassed last year’s totals, with additional transactions in the pipeline. SPACs last experienced a boom between 2020–2021, with approximately 600 U.S. companies raising a record $163 billion in 2021. Notable companies that went public […]
Short Form Merger: Streamlining the Process for Businesses
Merging two companies is a complex legal and business transaction. A short form merger, in which an acquiring company merges with a subsidiary corporation, offers a more streamlined process that involves important corporate governance considerations. A short form merger, in which an acquiring company merges with a subsidiary corporation, offers a more streamlined process. However, […]
Tariff Response Options for Small Businesses Facing Financial Distress
The Trump Administration’s new tariffs are having an oversized impact on small businesses, which already tend to operate on razor thin margins. Many businesses have been forced to raise prices, find new suppliers, lay off staff, and delay growth plans. For businesses facing even more dire financial circumstances, there are additional tariff response options, including […]
Common Causes of Partnership Disputes and How to Resolve Them
Business partnerships, much like marriages, function exceptionally well when partners are aligned but can become challenging when disagreements arise. Partnership disputes often stem from conflicts over business strategy, financial management, and unclear role definitions among partners. Understanding Business Partnership Conflicts Partnership conflicts place significant stress on businesses, making proactive measures essential. Partnerships should establish detailed […]
Businesses Are Facing Financial Headwinds—A Practical Guide
*** The original article was featured on Bloomberg Tax, April 28, 2025 — As a tax attorney who spends much of my time helping people and companies who have large, unresolved issues with the IRS or one or more state tax departments, it often occurs to me that the best service that I can provide […]
President Trump's Termination of Member Gwynne Wilcox
On January 28, 2025, the Trump Administration terminated Gwynne Wilcox from her position as a Member of the National Labor Relations Board (NLRB or the Board). Gwynne Wilcox, a union side lawyer for Levy Ratner, was confirmed to the Board for an original term in 2021 and confirmed again for a successive five-year term expiring […]
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!
