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Lawyers for Bitcoin Miners

Blockchain attorney Dr. Nick Oberheiden

Attorney Nick Oberheiden
Bitcoin Miners Team Lead
Blockchain attorney Alina Veneziano

Attorney Alina Veneziano
Bitcoin Miners Team Lead

Bitcoin miners, mining companies, and the executives for bitcoin mining companies face numerous legal risks and a lot of uncertainty. Not only can they face legal challenges on the federal, state, and even on the local level, but those challenges are constantly evolving as the law struggles to keep up with cryptocurrency practices.

The Blockchain Lawyer, a law firm powered by the national business defense firm Oberheiden P.C., provides full-service representation to bitcoin mining companies that do business in the U.S. Our team consists of former federal prosecutors and investigators, as well as cryptocurrency advocates, thought leaders, and scholars. Together, they bring decades of relevant experience to the field of cryptocurrency and bitcoin mining, including experience in both defending and prosecuting bitcoin mining companies for all types of regulatory and legal issues.

What Legal Services Can We Provide to Bitcoin Miners?

Bitcoin miners, whether they are aware of it or not, are in the crosshairs of numerous federal and state regulatory schemes. Additionally, the services that they provide create a horde of legal implications and risks. On a daily basis, bitcoin miners need to be able to rely on experienced legal advice covering a wide range of areas, including:

  • Litigation risk management
  • Federal defense for both civil and criminal allegations
  • Compliance
  • Internal auditing and investigation
  • Business litigation
  • Audits by law enforcement and other agencies

The attorneys and bitcoin scholars at Blockchain Lawyer can help on all of these fronts.

Litigation Risk Management

Bitcoin miners always face the risk of getting sued, whether by the government for failing to comply with binding regulations or by a third party for a host of allegedly wrongful activity, like:

  • Breach of contract
  • Unfair business practices
  • Antitrust violations
  • Employment disputes
  • Environmental damage
  • Zoning and real estate problems
  • Intellectual property infringement or violations

While these risks will always exist, managing them is paramount for bitcoin mining companies. This often involves addressing legal issues such as:

  • Data security
  • Contract review
  • Creating compliance strategies
  • Internal audits and investigations

At Blockchain Lawyers, we provide all-encompassing and detailed risk management programs that are custom-fit for your bitcoin mining company’s needs and concerns.

Federal Defense Attorneys

As government regulation reaches deeper into the novel field of cryptocurrency, the odds for a legal action from a state or federal regulator or law enforcement agency increases dramatically. The seriousness of these enforcement actions cannot be understated. They can hold your bitcoin mining company liable for millions of dollars and can even lead to criminal sanctions, up to and including jail time for your company’s executives. Additionally, the agencies that can be making these allegations include some of the most powerful law enforcement organizations in the world, including the:

  • Department of Justice (DOJ)
  • Federal Bureau of Investigation (FBI)
  • Department of Defense (DOD)
  • Environmental Protection Agency (EPA)
  • Federal Trade Commission (FTC)
  • Securities and Exchange Commission (SEC)
  • Internal Revenue Service (IRS)
  • Federal Energy Regulatory Commission (FERC)

These agencies can levy some potent accusations against your mining company. Some of them are civil allegations, while others are criminal in nature. Some can be pursued as either civil or as criminal violations. Some common accusations that you can face for your bitcoin mining activities include:

  • Tax evasion
  • Anticompetitive business conduct
  • Securities fraud
  • Deceptive marketing
  • Violations of environmental protection laws and regulations
  • National security issues
  • Data management violations related to hacking
  • Consumer protection violations

The attorneys at Blockchain Lawyer include numerous former federal prosecutors that have extensive experience in pursuing these same types of allegations against businesses across America. By tapping into that experience and getting it on your side, you can raise effective legal defenses throughout the investigation and enforcement process and insulate you and your bitcoin mining company from significant civil or criminal liability.

Compliance

The best way to defend against allegations that you have violated a regulation or other legal or contractual obligation is strict compliance. If you comply with the regulation or contract, then allegations that you are violating its terms or not fulfilling your obligations will not be made or, if they are made, they will be baseless.

In most cases, it is not only less stressful and risky to invest in effective compliance protocols than it is to defend against allegations of wrongdoing; it also costs less.

Blockchain Lawyer provides bitcoin mining corporations with the legal experience and the current understanding of this ever-changing industry that is required to craft, implement, and maintain the comprehensive and effective set of compliance measures needed to insulate your company from legal liability, or even the threat of legal liability. With our legal experience defending bitcoin companies at every stage of the process, you can rely on us to bring your company into compliance on all necessary fronts so you can focus on what you want: Running your bitcoin mining business.

Internal Auditing and Investigations

A core component of every effective compliance strategy is to conduct internal audits and investigations to ensure that every facet of that strategy is working the way it should. An audit is nothing more than a test of your compliance mechanisms. Without those tests, though, your compliance protocols are nothing more than theories. Worse, they can provide a sense of security that ends up being false.

With our help, your bitcoin mining corporation can audit your compliance policies to ensure that they are working the way they are supposed to work. These audits can discover crucial compliance failures before they get worse or before federal law enforcement agents find them. At the very least, plugging these holes up can mitigate the damage of a subsequent investigation, and can show inspectors that your company is taking its legal obligations seriously.

Business Litigation

Litigation is both a sword and a shield for all companies, including cryptocurrency organizations. Blockchain Lawyer provides legal representation, regardless of what side of the lawsuit you are on.

We can help you file a lawsuit to:

  • Enforce a contract
  • Challenge a competitor’s unfair business practices
  • Protect your trade secrets
  • Stop intellectual property from being stolen, used, or infringed upon
  • Uphold a non-disclosure or non-compete agreement with an employee
  • Take any other action necessary to further your company’s interests

We also provide stellar defensive strategies if your company is being sued by another private party, including for:

  • Contractual disputes
  • Injunctions or cease and desist demands
  • Nuisance complaints, including those based on environmental allegations
  • Shareholder disputes and other corporate ownership issues
  • Misappropriation and tortious interference claims
  • Breach of fiduciary duty
  • Any other allegation of wrongdoing being levied against your company

Outside Audits

If your bitcoin mining company gets audited, we can provide strong legal representation that sees your company through the process, regardless of which federal agency is behind the inspection. With our help and experience in handling these preliminary investigations, we can keep them from spiraling into serious civil or criminal cases and insulate your company from legal liability.

FAQs About the Legal Representation that Bitcoin Mining Companies Need

Are All Bitcoin Miners Regulated by U.S. Federal Law?

Yes. However, your specific legal obligations can vary depending on the size of your operation and how you mine cryptocurrency.

Recreational miners and other individuals who mine cryptocurrency on a small scale are regulated by the government. However, their obligations are relatively light and law enforcement often does not have the resources to monitor them and enforce the law against them if they do violate it.

Large-scale mining companies, however, have extensive and wide-reaching legal obligations to meet. Worse, the details can change depending on how you mine – whether through central processing units (CPUs), graphics processing units (GPUs), or their more modern replacements, application-specific integrated circuits (ASICs).

What are the Potential Penalties for Noncompliance?

The potential penalties for noncompliance will depend on the specific violation. Most of the time, noncompliance is pursued civilly, often by the SEC, IRS, FTC, or the FERC. In these cases, the potential penalties can be a fine or other monetary penalty, as well as injunctions to ensure future compliance or to stop an ongoing violation or problem. In severe cases, the violation can be prosecuted criminally. In these instances, the bitcoin mining company's owners, executives, or workers can face criminal fines and potentially even jail time.

How Can Bitcoin Mining Companies Reach Federal Compliance?

Given the steep penalties that can come with noncompliance, reaching a status of compliance is essential for bitcoin mining companies if they want to stay in business well into the future. Establishing compliance is key. It begins with a thorough understanding of your company's legal obligations. This means examining all of the laws and regulations that could pertain to your company and figuring out what you need to do in order to avoiding violating them. Only after that has been done can you craft a thorough compliance strategy that will ensure that you do not run afoul of your legal obligations. Once that is complete, you still need to audit and test your compliance strategy to ensure that it is working the way that it should.

While this might sound daunting, it is only the tip of the iceberg. Cryptocurrency law is changing rapidly. Legal obligations are constantly being created and tweaked at the federal, state, and even at the local level. Coming into compliance with these laws and regulations is an ongoing task.

Why Doesn't Blockchain Lawyer Call Itself the Preeminent Defense Firm for Bitcoin Miners?

Because we like to let our track record of success and the backgrounds of our legal professionals speak for themselves. We have helped numerous bitcoin miners reach compliance with federal obligations or defend against serious allegations of noncompliance. Our attorneys have made this happen with their thorough knowledge of cryptocurrency law, as well as their deep backgrounds in federal law enforcement and business litigation.

Schedule a Consultation with a Blockchain Lawyer at Oberheiden P.C.

Bitcoin mining companies are at the apex of numerous legal obligations and requirements. Going it alone or without knowledgeable legal representation is a huge risk. Contact the Oberheiden P.C. attorneys at Blockchain Lawyer online today or call them at (888) 680-1745.