The sudden rise of Bitcoin, Ethereum and other cryptocurrencies over the past several years, coupled with the potential applications of blockchain and distributed ledger technologies across virtually all industries, have generated a wave of innovation, disruptive businesses, and a modern digital economy. Additionally, Puerto Rico has recently attracted a large number of crypto investors, innovators, coders and traders who have established their domicile here, thanks to the tax benefits of Puerto Rico’s Act 60-2019. With this massive growth, which transformed Puerto Rico into the newest epicenter of the digital currency and blockchain movement, new legal and regulatory issues in these areas are arising every day. Pirillo Law’s legal expertise and network of technical experts, location in a key industry market, and depth of experience allows us to offer over-the-top service to help our clients capitalize on financial opportunities and meet the challenges of this evolving industry.

Our experience with digital currency and blockchain technology began in 2015, when our Firm advised and represented the first international financial entity in Puerto Rico allowed to enter transactions related to cryptocurrency, when most people in the world were just beginning to hear the word “Cryptocurrency.” Our Firm is supported by a seasoned team and network of subject-matter experts highly regarded across areas affecting digital assets, including company formation and financing, securities laws, regulations enforced by the SEC, CFTC, IRS/FinCEN, DOJ, FINRA, and local regulations and licensing matters governed by the Office of the Commissioner of Financial Institutions (“OCFI”). We can help clients navigate the regulatory landscape in key issues including anti-money laundering, licensing, registrations or exemptions from registration, fund formation, asset management, asset custody, government investigations and enforcement, token fundraising and other securities offering alternatives. Pirillo Law’s team excels in advising the innovators and investors throughout this complex and rapidly evolving sector. We partner with clients to embrace the promise and potential of innovation to make a lasting impact. Our attorneys also advise clients in the emerging area of DeFi (decentralized finance) and DAO (Decentralized Autonomous Organizations), and counsel investors and other participants on projects in the growing DeFi industry.  Counsel ranges from investment and due diligence in DeFi projects to regulatory compliance and exploration of DeFi technology by traditional financial services providers.


  • Advised and represented the first international financial entity allowed to make transactions in cryptocurrency, as well as accepting fiat money related to cryptocurrency transactions.
  • Advised the Puerto Rico Blockchain Trade Association in the development and creation of local legislation for the digital assets and blockchain space.
  • Advising digital currency exchanges on state and FinCEN registrations.
  • Represented clients seeking a “No Objection” determination from the Puerto Rico’s Office of the Commissioner of Financial Institutions with regards to custody of digital assets.
  • Advised and represented clients and sponsors on different types of fund formation in the crypto space, including venture capital funds and hedge funds, and investment forms including staking and yield farming.



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