For months now, bitcoin has been a steady presence in the news cycle and now other types of virtual “coin” are appearing and attracting additional buyers, the attention of Wall Street investors and even the Internal Revenue Service. Recent rapid spikes in the price of the virtual currency have also caused some early market entrants to become quite rich. In this column, attorney Robert Ellis, a partner at Hennis, Rothstein & Ellis LLP, explains bitcoin, its pitfalls and the legal implications of the virtual commodity.
This article is restricted per publishing limits. Soon we will offer the ability to buy the ability to read this content.