“Bitcoin is evil.” “Bitcoin is a pyramid scheme.” “Bitcoin is worthless.” These are just some of the comments that have been levied against cryptocurrency generally and Bitcoin specifically. Whatever views one might hold about whether these criticisms of cryptocurrencies are well-taken or not, these harsh statements by prominent and respected members of the financial community cannot simply be ignored. Now that such strong statements have been made, is it enough for those involved in cryptocurrency merely to disagree with the statements themselves, or is there something more that those involved in the industry should be doing about them?

In a recent Norton Rose Fulbright Legal update, Robert A. Schwinger, Paul Keller and Susan Linda Ross of Norton Rose Fulbright’s New York office discuss the risks that these negative statements present to the cryptocurrency industry, and risk mitigation strategies that can be employed to help minimize those risks.