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Bitcoin: With Virtual Currency, Does Virtually Anything Go?

By Laura Grossfield Birger

When the topic of bitcoin comes up among business lawyers, reactions typically fall into two categories. At one extreme, the response is a blank stare or a query about whether bitcoin is “that fake money the kids are using these days”; at the other extreme, the mere mention of bitcoin sparks an informed acknowledgment that numerous companies are either dipping their toes into bitcoin waters or finding themselves affected by its rising prevalence. Recently, the bitcoin phenomenon has been rapidly gaining wider recognition and acceptance, and reactions are increasingly trending more toward the latter than the former.

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