Four bar associations across the United States have now issued opinions stating they are not opposed to cryptocurrency or digital currency as a form of payment for an advance or services rendered.
The District of Columbia Bar Association (DCB) became the most recent, releasing an ethics opinion which states that lawyers in the nation’s capital could accept cryptocurrency as a form of payment as long as the fee is reasonable and objectively fair to clients. According to the DCB, any lawyer who accepts crypto as payment must also take “competent and reasonable security precautions to safeguard that property”.
Other bars accepting digital payments
The DCB currently has roughly 100,000 members, making it one of the larger bar associations in the U.S. to state it is “not unethical for a lawyer to accept cryptocurrency.”
The New York City bar association issued a statement in July 2019 calling crypto payments “business transactions”, while the DCB refers to them as “payment in