Cryptocurrency & Blockchain

Regulation and Enforcement

We bring an insider’s perspective to cryptocurrency regulation, drawing on our experience at the CFTC, SEC, FERC and DOJ. We advise cryptocurrency exchanges on the CFTC and SEC registration categories potentially applicable to their business, as well as companies in the DeFi space on the applicability of the current US regulatory structure. In addition, we advise companies on issues related to the Bank Secrecy Act and Know Your Customer requirements.

We also represent market participants in state and federal enforcement actions, investigations and related litigation, including matters before the CFTC, DOJ, SEC and the Financial Crimes Enforcement Network (FinCEN).

We recently represented Coinbase, for example, in connection with an enforcement investigation and settlement brought by the CFTC. We also advise LedgerX on general regulatory matters.

Policy, Legislation and Regulatory Advocacy

Bracewell is strongly positioned to advise clients on the complex policy, regulatory and public affairs issues resulting from the increased scrutiny of cryptocurrency and DeFi. Our deep connections to leadership and staff within regulatory agencies allows us to engage regulators directly on the policies and regulations affecting our clients. Our Policy Resolution Group (PRG) brings a unique combination of government relations, strategic communication and legal representation to bear in helping clients navigate and advocate complex policy issues. PRG includes team members who have held leadership positions as chiefs of staff and legislative directors in the US Congress, or who have served as senior officials and attorneys at the SEC and other regulatory agencies.

Our experience working with nascent industries facing scrutiny in Washington and regulatory schemes — such as those created under the Dodd-Frank Act — enables us to anticipate and respond to developments that will impact the future of the cryptocurrency community, including tax policy, agency regulations and cybersecurity regulations.

Blockchain and Smart Contracts

We draw on our strengths across practices and industries to advise clients on the use of blockchain and smart contracts.

As one of the world’s leading energy law firms, we have an extensive knowledge of energy commodities and derivatives markets which, in combination with our deep understanding of blockchain, smart contracts, trading platforms and other emerging technologies, enables us to provide informed and practical advice on the benefits and challenges of transitioning into a new era of smart contracts, automated market-making and automation of mid- and back-office functions. This experience includes advising clients on the use of blockchain, smart contracts, and other emerging technologies for energy commodities trading, including on matters regarding master agreements, trading, scheduling and settlement functions.

Crypto Mining

Our team helps clients acquire and operate bitcoin and cryptocurrency mining operations across the United States, including in the Pacific Northwest, Mountain West, Southwest and Mid-Atlantic regions.

We advise generation owners and crypto miners with proposals to collocate mining operations at generation sites, as well as in assessing interconnection to and use of electric distribution and transmission systems to ensure the developers of mining facilities have reliable power. We also provide advice on access and rate issues for use of local electric distribution systems and neighboring transmission systems for utilities, crypto miners and generation owners.