Blockchain technology company Bitfury Group, together with international law firm Steptoe & Johnson LLP, announced today that Steptoe will serve as a member and legal services partner of the Global Blockchain Business Council (GBBC). 

Steptoe is one of the first law firms to establish a global, multidisciplinary blockchain practice. The firm played a pivotal role in the creation of the Blockchain Alliance—a coalition of over 60 blockchain companies and law enforcement and regulatory agencies worldwide. It currently serves as a counsel to the alliance, which helps promote the growth of blockchain technology through dialogue and engagement between industry and government.

“Steptoe is proud to partner with the GBBC to educate companies around the world about the opportunities presented by Blockchain technology.  Much like the Internet, the Blockchain has the potential to revolutionize the way both companies and governments do business.  We look forward to working with the GBBC to help companies better understand Blockchain technology and learn how to implement this technology in the most efficient, secure manner in compliance with all relevant laws and regulations,” said Jason Weinstein, co-chair of Steptoe’s Blockchain and Digital Currency Group.

As the legal services partner of the GBBC, Steptoe will bring its vast experience of advising companies and other institutions on legal and regulatory issues involving blockchain applications to benefit the GBBC and its members.  Steptoe’s role as the legal services partner will complement the previously announced role of Covington, as the GBBC’s government relations partner.

“We are very excited to add Steptoe to the GBBC team.  As one of the world’s leading law firms on Blockchain technology, they have been integral in establishing the legal DNA of this industry.  Steptoe’s expertise will provide a tremendously valuable resource for GBBC members—and for any company or industry considering applications for Blockchain technology,” said Valery Vavilov, CEO of the Bitfury Group.

The recently launched GBBC aims to bring together the world’s leading businesses to educate on the latest innovations and advances in blockchain technology and advocate for its global adoption.  The GBBC will serve as a resource center, providing a forum for education and collaboration in the Blockchain space.  It will assist companies by raising awareness of the potential of blockchain technology and engaging businesses interested in embracing and promoting this innovative technology to grow and enhance their reach and abilities.