In Cryptocurrency We Trust (Or Do We?)
“Cryptocurrencies: everything you don’t understand about money combined with everything you don’t understand about computers.”1 Most people have heard of bitcoin, but there are thousands of cryptocurrencies.2 The technological underpinnings of cryptocurrencies are intricate and powerful, making cryptocurrencies secure; however, the anonymity, novelty, and lack of predictable regulation all create a degree of risk. Fiduciaries and estate planners should be aware of the advantages and drawbacks to cryptocurrencies in order to advise their clients on this growing phenomenon.
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