Morgan Salisbury Pens Bitcoin Primer for Kentucky Lawyers

Fort Wright, Kentucky, October 4, 2018— The Kentucky Bar Association’s Bench & Bar Magazine recently published a feature article written by Fort Wright Associate R. Morgan Salisbury on the legal framework surrounding the cryptocurrency known as Bitcoin. Titled “Bitcoin for Kentucky Lawyers: A Primer,” the article provides a background on Bitcoin, highlights recent court cases involving the cryptocurrency, and discusses its tax implications, both state and federal.

Mr. Salisbury also provides advice on locating Bitcoin during the litigation process, which can be tricky thanks to its “semi-anonymous” nature. He also identifies practice opportunities that can be derived from the underlying blockchain technology of cryptocurrencies, such as “smart contracts.” The article closes with a preview of potential regulation and a warning of “buyer beware.”

“Bitcoin and the blockchain technology are changing our world. As lawyers, we must recognize these changes and be prepared for them,” Mr. Salisbury writes.

Read the full article here.