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mcline Articles

Will Web3 Change the Accounting Industry?

No matter what industry you work in, there is some level of accounting required to keep track of your income, expenses, and other financial matters. Emerging technologies like web3 and cryptocurrency, and financial transactions outside...

Why The Changing World Needs Web3 Lawyers

Web3 is considered the next iteration of the internet. But really, it is more than that. It is a new way of doing business, communicating, and buying and selling goods. It is also bringing about...

What are Smart Contracts and How Do They Work?

The legal industry cannot escape from increasing digitalization. As technology changes and innovates, lawyers and law firms will have to adapt to new processes. One of the aspects of law firms that is becoming increasingly...

Will the Same Laws That Apply in ‘Real Life’ Apply in the Metaverse?

People are entering the metaverse at a swift pace. Large corporations like Nike and Gucci have set up shop. Celebrities like Snoop Dog and Paris Hilton have also staked a claim on metaverse property. Naturally,...

Law Firms are Entering the Metaverse, Here’s Why

Over the past several months, law firms have been increasingly buying land and setting up offices in the metaverse. These law firms are operating on various platforms providing services ranging from ‘metaverse marriages’ to disputes...

What Law Firms Should Know about Buying Property in the Metaverse

The Metaverse has long been a place for socialization and connection with other people via innovative technologies. But now, the multifaceted world of 3D technology is changing into a space where businesses and professional services...

These Web2 Companies are Being Criticized for Embracing Web3

Several large Web2 companies are being criticized for embracing Web3 technology like blockchain or crypto assets. Those to come under fire include major companies like Discord, Kickstarter, Mozilla, and Ubisoft. Each of these companies have...

U.S. Officials Seize $3.6 Billion in Bitcoin from Bitfinex Hack

In early February 2022, the Justice Department announced that it had seized more than $3.6 billion worth of Bitcoin allegedly stolen by a New York couple six years ago. The couple, Ilya Lichtenstein and Heather...

Tax Implications of Cryptocurrency Mining

Question Presented Is cryptocurrency mining similar to mineral mining where recognition of income does not occur until the miner disposes of the mineral in an exchange? Statement of Facts In mineral mining, recognition of income...

Is SEC Proposal Really a ‘Trojan Horse’ for Regulating Crypto Sector?

While major cryptocurrencies rebounded after a volatile week, Securities Exchange Commission (SEC) watchdogs continue to push for regulating the crypto sector. Last week, the SEC unveiled a 654-page plan aimed at regulating “treasury markets platforms”....

White House Planning Executive Action to Regulate Cryptocurrencies

The Biden Administration is planning an executive action to allow federal agencies to regulate the crypto sector. Should the government regulate a decentralized market?