When the Government Knocks at Your Door

Jared Marx is an attorney at Washington, DC law firm Harris, Wiltshire Grannis. He advises companies about bitcoin-related regulatory law and represents companies and individuals in civil and criminal proceedings.

Here, he discusses what cryptocurrency businesses should consider if they find themselves face-to-face with a US government subpoena, interview or search warrant.

door knock

Cryptocurrency businesspeople are a hearty bunch. They deal not only with the ordinary anxieties of running a startup, but also with a lack of clarity on a whole range of fundamental legal issues. (Remember when people were still asking whether bitcoin was even legal?)

One upshot of this is that a number of companies – including many who have tried hard to comply with applicable laws – have found themselves either receiving investigative subpoenas or subject to civil or criminal enforcement action.

The recent Ripple Labs fine, along with comments from FinCEN director Jennifer Shasky Calvery, suggest that this trend is on the upswing.

Since regulatory uncertainty is likely to persist for some time, here’s a primer on things to consider when the US government knocks at your door (either figuratively or literally).

1. Subpoenas

Virtually every US government agency has the power to demand documents from businesses

Read more ... source: CoinDesk