What is Bitcoin?

These days, all eyes are on Bitcoin, one of the world’s first and most widely-adopted distributed digital currencies. As Bitcoin use continues to grow, so do the questions and issues that similarly arise as various laws struggles to keep pace.

Marco Santori, a recognized authority and thought leader in digital currency law, recently taught a program with Lawline to explain how digital currency works through the Bitcoin lens.  Entitled “Bitcoin, Digital Currency and the Law,” Marco focused on recent enforcement actions and the lessons they can teach, the law of digital currency as it stands today and how it may likely develop in the future.

Notably, this program was great for individuals from varying levels of Bitcoin knowledge. It covered everything from the fundamentals to more advanced understandings of Bitcoin issues.

Specifically, Marco began with  an approachable explanation of the inception of Bitcoin, how Bitcoins are used today, how the transactions work, and why Bitcoins are actually used at all.  In addition, Marco discussed more advanced issues such as money transmission on U.S. State and Federal levels, compliance and avoidance strategies as well as various issues beyond money transmission.

This program was truly enlightening and I would highly recommend for anyone looking for a better understanding of this emerging area of money transmission law.

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