DC Bar Association Allows Crypto Payments for Lawyers
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DC Bar Association Allows Crypto Payments for Lawyers

July 1, 2020      Vandana Malik

The District of Columbia, DC Bar Association has recently announced that it will be allowing crypto payments for the lawyers. It has been seen that around four bar associations across the United States have agreed to this and now they are not opposing digital currency and particularly cryptocurrency. DC Bar Association has also announced its opinion regarding the acceptance of cryptocurrency as a mode of payment. Along with this, it has also specified that the terms and conditions that the lawyers will have to take care of. The lawyers are compelled to take all the precautionary measures while taking cryptocurrency as a payment.

DC Bar Association is largest to allow crypto payments

DC Bar Association is one of the largest bar associations across the U.S. with around 100,000 members. Now the allowance of crypto payments for lawyers coming out of such a huge bar association is something highly appreciable. Not only this, but other bar associations have also allowed crypto payments for various businesses across the U.S. Some bar associations have also issued this kind of statement to allow crypto payments back in 2018 only. However, there are some that still question the ethics of cryptocurrency as a payment method. The one that questions about this was North Carolina bar and it seems that this association is quite sceptical about the use of crypto as a payment method.

Crypto as a form of property

Even though the North Carolina bar has raised some questions regarding using crypto as a payment method, it also agreed that crypto could be seen as a form of property. The DC Bar Association accepts the fact that the nature of cryptocurrency is highly volatile and it might raise challenges for the lawyers, still, it has said that the future belongs to cryptocurrency. Along with this, it has also specified that the rules related to cryptocurrencies have become quite flexible which provides protection to its clients.

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Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.