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ABA Formal Opinion 491 - Duty to Avoid Assisting in Client Crime or Fraud
As Bitcoin and other virtual currencies, cryptocurrencies and digital City Bar Ass'n, Formal Op. (). The City Bar opinion. A lawyer who accepts cryptocurrency as an advance fee on services yet to be rendered, however, must ensure that the fee arrangement is reasonable, objectively. As discussed below, we conclude that if payment in cryptocurrency is required by the terms of the agreement and not an optional method of payment, the fee agreement is a �business transaction� within the meaning of Rule (a) and that the lawyer and the client have differing interests in negotiating the agreement.