The United States Citizenship and Immigration Services has frequently denied EB-5 applications that list Bitcoin exchange-traded-funds as a legitimate “source of funds”. Yet, in an unprecedented approach that included forensic reporting analysis, attorney Max Dilendorf provided an expert legal opinion and due diligence report proving that a green card applicants’ source of funds met the standards to be qualified under this program.
Because USCIS only requires a “preponderance of evidence” showing the legal acquisition of investment funds in EB-5 petitions and offers little guidance for applicants whose funds originated in cryptocurrency, Dilendorf’s confirming evidence was a significant achievement.
The Dilendorf Law Firm, NYC’s top law firm for the digital age, represented several clients in EB-5 matters with the USCIS concerning the clients’ EB-5 investments funded with cryptocurrencies. By submitting blockchain and cryptocurrency expert reports in these cases, the firm has provided evidence to support the legitimate “source of funds”.
The firm’s clients were software engineers and early cryptocurrency adopters who, in the opinion of the crypto compliance law firm, are legally qualified for obtaining EB-5 investor green-cards, as there was little doubt on the legality of the source of the clients’ cryptocurrency funds.
Dilendorf’s legal opinions and blockchain forensic reports, as submitted to the USCIS, included an expert assessment of the following:
- legality of the specific digital assets and regulatory framework for the involved financial institutions dealing with cryptocurrencies;
- origin and flow of cryptocurrencies funding the EB-5 investments;
- mechanism and sufficiency of digital wallets, private cryptographic keys, crypto trading platforms and accounts establishing ownership of the clients’ cryptocurrency funds;
- KYC/AML compliance measures taken at each point of the funds’ journey by clients and third parties, including crypto exchanges and OTC traders.
Max Dilendorf, Esq. is also a top forensic Bitcoin and crypto expert witness. His expertise has also made him one of the top cryptocurrency consultants for Fortune 500 companies. Mr. Dilendorf’s recent speaking engagements have included the Thailand SEC, IBM, Berkshire Hathaway, and New York University, to name a few.