Law firms weigh cryptocurrency payment risks as prices rise
Cryptocurrency prices have soared in 2021, with bitcoin hitting a market capitalization of $1 trillion and Citigroup saying the digital tokens could become the preferred currency for international trade. But lawyers, for the most part, aren’t cashing in.
While some firms like Quinn Emanuel Urquhart & Sullivan do accept cryptocurrency, the volatile market – and the complications it represents for law firm management – have kept most away. That means the payments remain a novelty in Big Law even as more and more firms launch digital currency and blockchain practices and court clients in the industry.
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