Noah Fiedler Flags Ethical Issues Connected to Lawyers Accepting Payment in Cryptocurrency

March 15, 2021

Hinshaw partner Noah Fiedler was recently quoted in Bloomberg Law about potential downstream consequences of lawyers and law firms accepting payment in cryptocurrency. The District of Columbia Bar recently joined bars in New York City and North Carolina in approving bitcoin and other cryptocurrency as payment for legal services.

Fiedler noted that lawyers are permitted to take all kinds of things for payments, even if the value of those things changes over time. Paying a lawyer in cryptocurrency is similar to paying them in company stock, however, "the problem with crypto is that it's so volatile,” said Fiedler. "Who reaps the rewards when the value skyrockets and who takes the risk when it nosedives?”

Advance payments in cryptocurrency are another potential issue of concern from an ethics perspective. Those situations, according to Fiedler, are generally treated as business transactions between the lawyer and the client, instead of the usual payment of fees. They are subject to several additional safeguards to prevent conflicts of interest.

Read the full article (subscription may be required)

"Crypto-Focused Law Firm Founders Battle Over Digital Assets" was published by Bloomberg Law, March 10, 2021.

Hinshaw & Culbertson LLP is a U.S.-based law firm with offices nationwide. The firm's national reputation spans the insurance industry, the financial services sector, professional services, and other highly regulated industries. Hinshaw provides holistic legal solutions—from litigation and dispute resolution, and business advisory and transactional services, to regulatory compliance—for clients of all sizes. Visit for more information and follow @Hinshaw on LinkedIn and X.