FinTech & Blockchain

Overview

On the cutting edge of cryptocurrency law.

Our FinTech lawyers live and breathe crypto. We’ve built the largest full-time crypto-exclusive team in the industry, and we have been keeping clients ahead of the FinTech and blockchain curve since day one.

With trailblazing leadership that has been recognized by The American Lawyer for progressive work in cryptocurrency law, our team’s sharp focus and unmatched sector experience add up to a significant advantage for your business.

Additional capabilities

Blockchain & Cryptocurrency

Crypto transactions

We have spearheaded and regularly handle all types of crypto transactions, including:

Token launches
Token sales
Capital markets offerings
Fund formation
Venture and private equity investments
Private sales of unique items
Technology agreements and commercial contracts

Crypto litigation, investigations & regulatory

We have led the charge in crypto litigation and investigations, representing more creditors, committees, and fiduciaries in high-profile crypto bankruptcies than any other law firm. In addition to defending litigation for multiple clients against FTX and Celsius, this includes representing the:

Official Committee of Unsecured Creditors in Cred, Voyager Digital Holdings, Terraform Labs, and Rhodium
Post confirmation litigation trusts in Cred, Voyager Digital Holdings, and Prime Trust
Debtors in Prime Trust
Ad hoc committee of crypto creditors in Genesis

We have defended clients in every major US Securities and Exchange Commission (SEC) crypto investigation and against enforcement actions brought by virtually every federal criminal and regulatory body, as well as state banking and securities regulators nationwide.

Our crypto lawyers are frequently engaged to:

Represent stakeholders in crypto bankruptcies and restructuring
Prosecute and defend cutting-edge crypto cases
Defend against federal and state government investigations
Conduct internal investigations for crypto exchanges and blockchain-based platforms

In addition, our clients – ranging from creditors and investor groups to high-net-worth individuals and entities worldwide – turn to us with their highest-risk and most important regulatory decisions. Because of our deep technical knowledge and unmatched on-chain experience, clients rely on our crypto lawyers for their most complex product offerings. Legislators and regulators also turn to us to draft new laws to protect the crypto industry and its participants.

We also advise on:

Obtaining money transmitter and other state licenses
Initial coin offerings
Stablecoin issuances
Launching new centralized exchange and decentralized finance products

Crypto recovery

We are on-chain native and ready to trace, litigate, and recover stolen crypto. Setting industry precedents along the way, our crypto lawyers have pioneered litigation in:

Crypto tracing
Decentralized autonomous organization (DAO) lawsuits
Crypto turnover orders
Transfers of physical assets (TPAs)
Simple agreements for future tokens (SAFTs)
Crypto theft

Featured

Case Study

Jul 07, 2021

To Catch A (Bitcoin) Thief

“I turn to [the McDermott Will & Schulte] team when I have difficult issues that require a combination of legal expertise, deep technical understanding, and crypto industry knowledge.”

Client testimonial

“[The firm] is unique in having a dedicated crypto-focused unit. They have a highly specialized crypto-focused team, who were not intimidated by the complex issues.”

Chambers USA, client testimonial

“They have the uncanny skill sets to guide us through complex legal topics based on their profound understanding of the crypto industry as well as the players.”

Chambers USA, client testimonial

Ranked Band 1

crypto-asset disputes and FinTech law, Joe Evans, Partner

Results

Led more cutting-edge crypto bankruptcy representations and related litigation than any other law firm
Served as special crypto regulatory counsel on Ripple’s acquisition of Standard Custody & Trust, which was the first time a crypto company acquired a New York Department of Financial Services-regulated limited purpose trust company authorized to conduct “virtual currency business activity” in New York. Obtained approval of the acquisition from the New York Department of Financial Services. Providing ongoing legal advice concerning the issuance of the stablecoin Ripple USD (RLUSD)
Represented Prime Trust in the first-ever chapter 11 bankruptcy case for a state-chartered crypto trust company. At its peak, Prime Trust custodied more than $3.8 billion in crypto and fiat. Post-confirmation, hired as lead litigation counsel to represent the litigation trust pursuing claims to return crypto and fiat to creditors

Engaged by the Wyoming Select Committee on Blockchain, Financial Tech and Digital Innovation Technology to draft legislation focused on protecting crypto customers in bankruptcy, including stablecoin reserves, staked crypto, assets with sub-custodians, and crypto traded on third-party exchanges; the legislation passed
Representing the Official Committee of Unsecured Creditors in the chapter 11 bankruptcy proceedings of Voyager Digital Holdings Inc., a publicly traded crypto company and one of the largest crypto platforms in the world, and obtained the first approved crypto chapter 11 plan over the objections of federal and state regulators
Represented the Official Committee of Unsecured Creditors in the chapter 11 bankruptcy proceedings of Cred Inc., a global crypto financial services platform, and the first bankruptcy case of its kind. Subsequently represented the Cred Inc. Liquidation Trust and prosecuted all related litigation
Recovered nearly $6 million in stolen Bitcoin and other crypto for an Official Committee of Unsecured Creditors representing customers of Cred, a crypto trading platform, following its chapter 11 bankruptcy and thefts made by one of its executives. In a first-of-its-kind ruling, the court issued an order requiring the defendant to return the stolen crypto “within the next 30 minutes”
Represented the Official Committee of Unsecured Creditors in the chapter 11 bankruptcy proceedings of Terraform Labs Pte. Ltd., the first bankruptcy case concerning a notoriously depegged stablecoin, Terra (UST), and its related cryptocurrency, LUNA
Defeated a case brought against a crypto over-the-counter (OTC) desk, alleging that it facilitated crypto trades in connection with a pig butchering scheme. The court held “the documents support the position that [the crypto OTC desk] operate[s] a legitimate business and had implemented anti-money laundering policies and practices during all relevant times”
Obtained a victory in connection with the common law trademark right to the name of a particular cryptocurrency between competing cryptocurrency companies
Obtained a landmark “no-action” relief for a wealth management client, Two Ocean Trust, concerning digital asset custody
Obtained “no action relief” for cryptocurrency companies in states across the nation, including California, Colorado, Indiana, Massachusetts, Utah, and Wyoming
Defended a series of companies and projects with failed initial coin offerings (ICOs) and other offerings in connection with investor disputes
Served as lead regulatory counsel to Anzens, Inc. on the issuance of the Cardano stablecoin USDA
Served as lead regulatory counsel to Zeebu on its launch of ZBU, the first cryptocurrency designed to facilitate international telecom credit payments – ZBU amassed a $1.6 billion market cap in its first 12 months