Blockchain and Virtual Currency: The Regulatory Landscape

Joseph (Joe) B. Evans is the head of McDermott's FinTech & Blockchain Practice and head of Crypto Litigation and Regulatory. Widely recognized throughout the crypto industry, Joe is one of the top crypto litigators in the world. The American Lawyer has recognized him as a “Trailblazer” for his progressive work in crypto and he is one of the few individuals that is Chambers ranked Band 1 in Crypto-Asset Disputes.

Joe leads the industry’s only crypto-exclusive team whose members spend 100% of their time working on crypto industry matters. One of the few groups in the world ranked by Chambers in Crypto-Asset Disputes, the team has led more significant crypto litigation, both generally and bankruptcy-focused than any other firm. The team also advises on anti-money laundering, sanctions, and other ongoing compliance issues. Frequently called upon to find solutions for the most complex crypto products, Joe’s team prides itself on finding regulatory solutions when others can’t or won’t.

Since 2013, Joe has been representing companies and individuals in all aspects of crypto and blockchain-related legal matters, including defending government investigations, pursuing cutting-edge crypto litigation, obtaining money transmitter and other state licenses, and advising on initial coin offerings. With a focus on crypto regulatory matters, Joe advises the industry’s biggest players on their most important regulatory and licensing matters. His work includes issuing stablecoins, obtaining money transmitter licenses nationwide, obtaining trust charters, and launching new cryptocurrencies and products.

Pioneering first-of-its-kind crypto litigation, Joe has successfully handled matters involving crypto tracing, decentralized autonomous organization (DAO) litigation, and actions against fictitious entities and anonymous founders. His in-court successes include a series of wins in connection with the crypto industry’s largest bankruptcy cases in the United States and defending some of the industry’s largest participants. Joe has qualified crypto tracing experts in federal court and obtained immediate recovery of stolen crypto.

Joe has led the most impactful litigation and investigations for crypto creditor committees and post-bankruptcy confirmation entities in the industry. These representations include Cred, Inc., Voyager Digital, Prime Trust, Genesis Global Capital LLC, Terraform Labs, and Rhodium. Joe defends and brings affirmative litigation in connection with crypto bankruptcy cases, including regularly filing and defending cases worth hundreds of millions of dollars of fiat and crypto.

Additionally, Joe has defended crypto exchanges and other market participants in federal and state investigations. He regularly and successfully defends against these crypto regulatory investigations without penalties, fines, enforcement actions, or media attention of any kind.

Joe has also worked with state and federal regulatory bodies across the United States to advise and provide input on crypto regulation. In 2024, the Wyoming Select Committee on Blockchain, Financial Technology, and Digital Innovation Technology tapped Joe and his team to draft new legislation to protect crypto customers in the event of a bankruptcy filing.  The legislation crafted by Joe and his team specifically protects crypto customers in bankruptcy, even those whose assets are staked, held in stablecoin, or with sub-custodians.