Lehman Walsh Lawyers announced they are the first Australian law firm to start accepting digital currencies payments, including bitcoin and ethereum, effectively immediately. They company says:
“Digital or Crypto currencies, as a payment method, is a great tool to achieve financial independence and freedom and creates tremendous and efficient opportunities for both service providers and clients.
Lehman Walsh Lawyers, as an organisation, operates with a progressive and developing philosophy, onboarding the benefits of technological advances that our larger competitors either shy away from or are too slow or too afraid to adopt.”
The law firm does not quite shy away from some strong language that is usually rarely heard by very conservative and stiff upper lip lawyers. They say:
“Our core value of providing cost effective and contemporary legal services is not only assist in this decision, but it also facilitates the expansion of our services beyond the borders of Australia, without having to deal with unnecessary, bureaucratic and burdensome financial services facilitation of the current international banking system.”
The decision was apparently taken after they began thinking of expanding into the Chinese market, with the firm tailoring their services for cross-border legal advice, they say:
“We then identified two most widely used, local digital token, and decided to adopt NEO Tokens (a Blockchain platform developed in China, turning the tides in favour of Smart Contracts) as a form of payment of our fees.”
The announcement was made on the 14th of September, with the situation changing in China since then, but this is one of the first law firms to accept digital currency payments and it might be a world first.
It comes after more than 1,200 Australian newsagents began accepting eth and bitcoin payments, with the conservative government tabling a bill to remove double taxation of digital currencies retrospectively from July this year.
That has seemingly led to increased adoption in the wealthy island nation as they look to encourage blockchain innovation and fintech companies.