Can you sue for cryptocurrency? Cryptocurrency and blockchain litigation can be in the form of a class action or a single suit. Some people suing entire cryptocurrency exchanges sue as a class in the hopes of assisting all of those affected.
Can you request to be paid in cryptocurrency? In order to receive payment in cryptocurrency, you’ll have to open an account and a digital wallet on a special exchange. It’s not hard to launch on a service like Coinbase Commerce, but it is unfamiliar to most.
Is cryptocurrency protected by law? Cryptocurrency exchanges are legal in the United States and fall under the regulatory scope of the Bank Secrecy Act (BSA). In practice, this means that cryptocurrency exchange service providers must register with FinCEN, implement an AML/CFT program, maintain appropriate records, and submit reports to the authorities.
Is there anything illegal about cryptocurrency? Whereas the majority of countries don’t make using Bitcoin itself illegal, its status as a means of payment or as a commodity varies with differing regulatory implications. Some countries have placed limitations on the way Bitcoin can be used, with banks banning its customers from making cryptocurrency transactions.