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Author Topic: 2013-07-30 Ha'aretz; Israeli lawyers may be paid bitcoin, says Ethics Committee  (Read 1252 times)
WiW
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July 30, 2013, 12:20:55 PM
Last edit: July 30, 2013, 01:40:31 PM by WiW
 #1

Lawyers may be paid in bitcoin, says Ethics Committee of the Bar Association

Ha'aretz is one of the leading newspapers in Israel (biggest "left-wing" newspaper).

Google Translated:
Quote
Bitcoin could pay attorney says the Ethics Committee of the Israeli Bar
Israeli banks Bitcoin trading limit, but the Ethics Committee of the Tel Aviv District - Center of Bar Association certifies its members get paid Distributed Virtual currency

Israeli lawyers may get paid Bitcoin, so set this month Ethics Committee of Tel Aviv and the Center of Bar Association, despite regulatory issues surrounding the standalone virtual currency. Israeli banks restrict non-status currency trading - is clear, and the Bank of Israel has not yet decided whether to charge them to allow trade it or forbid.

Bitcoin is a decentralized virtual currency without a central control system based on encryption and mining which was presented in an article published Satoshi Nkmoto (probably a pseudonym). Anyone with an Internet connection can possess, use and trade Bitcoin, even under a false identity. Secret character allows to use it under the radar of the authorities of the economy, tax and enforcement, with his hair in front of traditional currency exchanges dealers set it. However, buying Bitcoins using traditional currencies may expose buyers to the authorities. In 2012 the European authorities have granted official status of Bitcoin payment method provider has an international bank code, and recently the Bank of Thailand imposed a ban on all use of currency, subject to further testing.

Ethics Committee's decision was made in response to a lawyer's gift of giving market market a law firm. "Bitcoin community Israeli officials asked attorney Market, himself holding Bitcoin, publish situ it is ready to provide legal services for Bitcoin. According to the rules of ethics of the Bar Association, "a lawyer shall not receive a fee for his professional work, but money." Since this is a precedent regarding market turned the Ethics Committee of the Tel Aviv District to get reviews, and after two weeks received approval. "There is no reason to provide legal services in exchange for Bitcoin as payment," he wrote Ethics Committee Coordinator, Michal Krasucky - Ezekiel.

Approval of the Ethics Committee of the Bar Association to Bitcoin fees
Bureau approval stage is one of two that will enable the market for Bitcoin payment, when the second is the regulation of matters of taxation. For example, since you can not invoice Bitcoin, and since there is no "official rate" Bitcoin with traditional currencies, it is not clear by what Bitcoin exchange - easy to invoice.

"The issue of Bitcoin itself raises complex legal questions and complicated," says attorney Haaretz market. "" Difficult to track down those who pay can trigger difficult problems in whole - gambling, drugs, paid for acts that are improper. But now a lawyer may accept fees in cash, and when getting cash is not possible to track the source of the money. Could happen in case you get money from X to represent a person Y. I personally think the ethics committee should not decide moral questions, unless them Bitcoin is a legitimate currency. According to their decision, the answer is positive. "

Attorney providing market received permission to charge fees Bitcoin
In April, Army Radio reported that Israeli banks make it difficult to purchase Bitcoins. A month later, a customer complained International Bank, collected baht, that the bank forbids him to trade in currency. "Virtual coins are anonymous and are not supervised. Activity which is not regulated and therefore has a high risk to the bank, "said his bank. Response to the gaps in the bank added that" the activities currencies and virtual is not regulated and / or supervised and has a high risk of money laundering and terrorism financing. "Bank of Israel said at the time that" supervision the banks have not found it necessary at this time to ban or require banks continued operations with customers engaged in virtual currency (including Bitcoin). Conventionally, required banks to examine the various aspects and risks of each task with unique characteristics, setting limits and controls, and the very existence ".

You look strange decision, given the ambiguous status of Bitcoin?
Market: "Definitely a complex issue. Different entities here have seen the Bitcoin shapes. Publications I know Bank of Israel says Bitcoin exchange is legit. Ethics Committee had to decide only if it receives proper compensation for the services attorney. There are other questions, but they are not its authority and responsibility. "

EDIT: changed title to include "Israeli"
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WiW
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July 30, 2013, 12:22:44 PM
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The lawyer's name is Shok, which is written just like "market" in Hebrew. That's why the translated article keeps saying attorney Market...
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July 30, 2013, 01:31:48 PM
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I'm confused as to why an ethics committee is vetting Bitcoin. How can Bitcoin be considered "unethical"?
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July 30, 2013, 01:38:58 PM
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I'm confused as to why an ethics committee is vetting Bitcoin. How can Bitcoin be considered "unethical"?

I'm no expert, but my understanding is that it's their job to decide how can lawyers NOT be paid. Such as sexual favors for example. If I read the article correctly, after an inquiry they said "a lawyer must be paid with money" and after a second inquiry they approved that bitcoin falls under that category.
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July 30, 2013, 01:43:21 PM
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I'm confused as to why an ethics committee is vetting Bitcoin. How can Bitcoin be considered "unethical"?

I'm no expert, but my understanding is that it's their job to decide how can lawyers NOT be paid. Such as sexual favors for example. If I read the article correctly, after an inquiry they said "a lawyer must be paid with money" and after a second inquiry they approved that bitcoin falls under that category.

Ah, okay.
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