Bitcoin is one of the more popular forms of cryptocurrency that exploded onto the market a few years ago. Its promise of an alternative system to money and other attractive features have made it a popular item for the investing world. It has also stymied regulators such as the Securities and Exchange Commission (SEC) and the Commodities and Exchange Commission (CFTC), the nation’s largest federal regulators for the financial services industry. These regulators have debated over whose jurisdiction the currencies fall under, with the CFTC recently taking the lead.
With interest in cryptocurrency continuing to heat up, the American College of Trust and Estate Counsel (ACTEC) recently launched a podcast looking into the offerings. Eckell Sparks’ attorney Joseph E. Lastowka, Jr. is a member of ACTEC.
The podcast entitled, Bitcoin Craze: Investment and Fiduciary Implications, saw ACTEC Fellow Sharon Klein and guest Rhea Thomas, Senior Economist at Wilmington Trust, discuss why this currency is growing in interest and what investors need to look out for. The two discussed why Bitcoin is once again rising as an investment option and the pros and cons of them as a long-term investment option.
To listen to the podcast, click here.
If you are concerned about your fiduciary and legal obligations when you invest, contact the legal team at Eckell, Sparks, Levy, Auerbach, Monte, Sloane, Matthews & Auslander, P.C. today at 610-565-3701 and we will discuss your role and responsibility. Located in Media and West Chester, Pennsylvania, we serve clients in Delaware County, Chester County, and Montgomery County, Pennsylvania.