DISCLAIMER
This information is intended for general information purposes only and should not be considered as legal advice. The contents are neither an exhaustive discussion nor do they purport to cover all developments in the area. The reader should consult with legal counsel to determine how applicable laws relate to specific situations.
Regulatory concerns and constantly changing rules across various countries are why you need to work with a top tier blockchain law firm from the start. This could be the difference between having your project shut down, or facing massive penalties years later after you launch because of a clear violation. Whether you’re setting up your blockchain company, doing crypto influencer marketing, running paid NFT ads, or want guidance on upcoming regulatory issues, this is a list of the top web 3.0 law firms.
How we Rank these Crypto Lawyers
Who can you trust? Crypto, NFTs, & Blockchain technology are brand new industries where regulatory guidance and rules have not been fully established. This means that improper structuring, marketing, and creation can jeopardize an entire project. At Crowdcreate, we use a proprietary ranking formula based on these factors to decide who makes the list.
1.) Peer Scoring. We ask the experts and run surveys asking other founders, influencers, and investors who ranks at the top of their list.
2.) Number of Clients. The more clients, means the more experience they have.
3.) Quality Content. Are they thought leaders to political leaders and speak regularly on the news and at industry related conferences?
4.) Community Engagement. How active in the crypto, blockchain, DeFi, and NFT community are they?
5.) Technical Legal Ability. Does the law firm also have a technical background and experience with other tech companies?
Are you a Company?
These Blockchain Lawyers share their expert insights on many of the most frequently asked questions in the industry. They cover all aspects of blockchain law including but not limited to cryptocurrency securities law, blockchain law, NFT law, DeFI securities law, web 3.0 law, DAOs and more.
What do blockchain lawyers do?
How do I setup my cryptocurrency legal entity structure?
Are cryptocurrencies securities?
Does my blockchain or web 3.0 project violate securities law?
Should I incorporate in the USA or setup an international entity?
Are NFTs securities?
How do I setup a legal DAO?
What are the NFT copyright or intellectual property laws?
What is NFT legal ownership?
How is the SEC regulating cryptocurrency?
What is the crypto influencer marketing and promoter rules?
Top Crypto & Blockchain Law Firms
Crypto Legal Authorities
Top Web3 Lawyer Influencers
What Regulatory Issues are Facing Crypto Companies?
Blockchain delivers many benefits to users and companies. The virtual ledger be used to track the custody of documents, but it can also be used to store the documents themselves in a very stable and secure environment. Cryptocurrency and NFT companies can face classification issues as a security.
Want to Get Connected to this List?
What do blockchain lawyers do?
These attorneys understand blockchain technology at the deepest level and can navigate clients through complex decisions such as which platforms to consider (e.g., Bitcoin, Ethereum, Hyperledger), whether permissioned or public blockchains are best suited for their specific use cases, as well as the particular legal .
How will blockchain affect lawyers?
Looking to hire a Crypto & NFT Lawyer?
NFT Lawyers & Attorneys
NFTs are hotly debated topic amongst legal professionals and lack clear regulatory frameworks.
The Howey Test for NFTs
The USA Supreme Court created this test to determine whether certain transactions qualify as securities or investment contracts. There are four main tests:
- it is an Investment of Money
- The investment of money is in a common enterprise
- There is a reasonable expectation of profit from the investment
- Any profit comes from the efforts of a promoter or a third party
Most NFTs pass 1, 2, and 4, however 3 is debatable and projects should always consult a legal professional, and that’s where Crowdcreate comes in. We are a Crypto & NFT consultant that can point you in the direction.
For example, if you buy Bitcoin, do you expect it to go up in value? Yes, however, the reason it isn’t a security yet is because there is no centralized form of ownership or organization; it is truly completely decentralized. There is no single party responsible for the increase in value.
There are projects getting exempted for certain reasons under Section 504. To play it safe, projects are doing proper KYC and accredited investor declarations.
Most Frequently Asked Questions for Crypto & NFT Lawyers
The USA Supreme Court created this test to determine whether certain transactions qualify as securities or investment contracts. There are four main tests:
- it is an Investment of Money
- The investment of money is in a common enterprise
- There is a reasonable expectation of profit from the investment
- Any profit comes from the efforts of a promoter or a third party
Most NFTs pass 1, 2, and 4, however 3 is debatable and projects should always consult a legal professional, and that’s where Crowdcreate comes in. We are a Crypto & NFT consultant that can point you in the direction.
For example, if you buy Bitcoin, do you expect it to go up in value? Yes, however, the reason it isn’t a security yet is because there is no centralized form of ownership or organization; it is truly completely decentralized. There is no single party responsible for the increase in value.
There are projects getting exempted for certain reasons under Section 504. To play it safe, projects are doing proper KYC and accredited investor declarations.
Top 10 Legal Mistakes Crypto & NFT Projects Make
Language matters. Projects need to be very careful when marketing and promoting themselves to avoid running afoul of security rules.
- The project owner active in the promotion of the asset on the secondary market
- The asset gives rights to share profits or dividends to the project
- The project owner promises a return of profit
- Project are not fully formed or operational before the mint
- If building out a network or some real world utility, there is nothing immediately available to the NFT holder. You cannot just have a promise. It is recommended you take the mint proceeds and reimburse yourself
- Projects talk about secondary sales marketplace. Never talk about OpenSea or a secondary
- Projects market the digital collectible as an asset or investment. These words give someone the impression that you will make money
- Projects give a promise of future utility or functionality. There needs to be a current use case.
- Owners market the digital asset for its potential increase and not its utility and functionality
- Projects incorrectly promote random airdrops that actually go to all holders on a consistent basis, This is a clear no go because it’s scheduled. If an actor knows they are getting a reward at a certain time, they are able to manipulate the market. It’s the quintessential pump and dump. A random airdrop needs to be truly random,
Hire a Crypto & NFT Legal Advisor
Crowdcreate is one of the top rated global crypto & NFT consulting companies. We specialize in helping crypto & blockchain projects from idea to acquisition. Our team of experts provide industry leading insights and advise on best practices and for all facets of development, infrastructure, marketing, and legal.
