Blockchain and Cryptocurrencies: A Primer for Financial Planners Part Three

Posted on February 19th, 2019 at 3:48 PM
Blockchain and Cryptocurrencies: A Primer for Financial Planners Part Three

From the Desk of Jim Eccleston at Eccleston Law LLC:

This is the third article in our three-part series on blockchain and cryptocurrencies. Part three is a culmination of what impact blockchain and cryptocurrencies will have on a business.

It is an understatement to say that blockchain and cryptocurrency exist in a complicated space. This wildly unregulated, ever-developing, space can be a huge liability if one does not take the necessary professional care. In the interest of being forward-looking towards the possible future of the financial industry, here are a few things to focus on: staying current, being diligent, and exercising caution.

Staying current to the latest market trends is nothing new to the seasoned financial planner; these trends may take a bit more self-education and development than things in the past. Second, being diligent when discussing and deciding to invest into cryptocurrencies and their related technologies is advised. The risks cannot be ignored and for many it is not a wise financial decision. Lastly, do not be afraid to exercise caution when it comes to blockchain and cryptocurrencies. The lack of regulation, the drastic consequences of investing, and the ever-changing landscape all call for particular attentiveness.

The impact, for the most part, is unknown. Many believe this is akin to the dot-com mania experienced in the 1990s. Others are adamant that blockchain and cryptocurrency are the future of business as we know it. Whichever side of the spectrum you reside, make sure to educate yourself. Knowing the limits of your understanding of the two topics, and what you can intelligently discuss with a client, is invaluable.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: james eccleston, eccleston law, eccleston law llc, eccleston, blockchain, cryptocurrencies, regulation, finances

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Jim, Stephany and the whole team were a God send.  We felt like we were put into a situation where we had no advocate. Jim’s team came in with a strong, well laid out strategy on how to get our story heard. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. The only thing that is truly heard in this un-level playing field is a bulldog’s bark like Jim’s. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. They are truly the best.

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