In a recent article, the ABA Journal highlighted actions states like Wyoming and Vermont are taking to improve the legal landscape for blockchain companies.
While Wyoming has opted for a deregulation model, Gravel & Shea attorneys have been active in Vermont’s efforts to create a useful legal structure based on the needs of blockchain companies.
Oliver Goodenough, Gravel & Shea Special Counsel and a law professor at Vermont Law School, told the ABA Journal that the purpose of recently passed blockchain legislation was to “provide the ability to opt into a structure rather than wait for the courts to impose something on top of you.”
To that end, the 2018 law created blockchain-based limited liability companies (BBLLCs) and personal information protection companies (PIPCs).
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