Planning and launching an ICO is a complicated endeavor. Working with the right attorney can make the entire process much easier. But with all the options, how do you know you’ve found the right ICO attorney for your project?
Here are 4 questions you should ask before hiring any ICO or STO Law Firm.
Can the attorneys understand and challenge both the legal and technical aspects of the project?
Any attorney working in the crypto space must be able to understand both the legal and technical implications of your company and your cryptocurrency project. Having only a partial understanding of any cryptocurrency project can cause serious problems as your project progresses and can lead to inaccurate or misleading legal advice.
If you’re meeting with an attorney and they are asking questions related to the basics of the crypto market, you should probably look elsewhere for legal counsel. You need an attorney who is going to add value to your team and who can approach the project from a big picture viewpoint.
Can the attorney outline the process, estimate costs and timeline, and clearly state the value they’re adding to the project?
If you’ve presented your project to a crypto attorney and you are only getting vague assurances without any straight answers on budget or timeline, then that attorney is probably not a good fit for your cryptocurrency project. The best ICO lawyers and STO lawyers can provide you with detailed information and project expectations from the outset, including estimated project timelines and costs, initial risk assessments based on the provided project information, and more.
If you get the impression your attorney isn’t prepared to provide a clear roadmap for the project upfront, it’s probably best to seek legal counsel elsewhere.
How does the attorney balance innovation with regulation?
As an emerging technology, it can be difficult to juggle the regulatory aspect of cryptocurrency with innovation in the marketplace. You’ll want to make sure that your crypto attorney can identify applicable regulations without smothering the creativity of the project.
Juggling all the pieces can be challenging, but the right ICO attorney will be passionate about finding unique solutions to potential problems without stripping away everything that is innovative about your project.
How does the attorney stay on top of regulatory changes in the crypto space?
Cryptocurrencies first arrived on the scene in 2009 and a lot has changed even in that short window of time. As cryptocurrency becomes more mainstream, regulatory agencies around the world are starting to get involved in monitoring and regulating the crypto markets. With one single entity providing oversight to the industry, countries are creating their own systems of regulation. For ICOs intending to have a global presence, these varied regulations can get complicated quickly.
Hiring an ICO attorney with a deep understanding of crypto regulations around the globe is essential to a successful ICO launch. Your attorney should be able to clearly explain recent regulatory and compliance changes around the globe and explain what impact they may have on your proposed project.
ICO Law Group:
Attorneys Mike Miglio and Adam Wolfe of ICO Law Group are dedicated to providing the best possible legal services to clients with cryptocurrency, blockchain or ICO and STO projects. They have paired their backgrounds in securities and international business with a passion for the emerging cryptocurrency markets and use that experience to help clients launch and manage crypto projects all over the world. Their mission is to help the international cryptocurrency community navigate the legal intricacies of the cryptocurrency world.
Call today for a free consultation on your ICO, blockchain or cryptocurrency project.