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By Washington, D.C. criminal defense attorney Shawn Sukumar with Price Benowitz, LLP.

Anyone that has turned on the nightly news in the last year has likely heard the word “Bitcoin,” and probably in the context of the incredible increase in value it was experiencing. For many individuals, this may have been the first they had heard of cryptocurrency. It is unlikely to be the last.

Cryptocurrency is the term used to describe any form of currency that only exists in digital form, and that uses algorithms to generate units of the currency and encryption to track and document transactions conducted using the currency.

It is not issued by any government or central bank, meaning that its value is most analogous to equities like stock in a corporation. The value of a unit of cryptocurrency is, generally speaking, based on what a buyer is willing to pay for one unit, much like a share of stock.

Currencies issued by central banks or governments have a set value and that value is backed by the government. This is what is known as “fiat currency”.

“The concepts underlying what constitutes a security, a public offering, a trading platform, and myriad other securities concepts are complex and very often fact specific,” said Shawn Sukumar, a D.C. fraud lawyer with the law firm of Price Benowitz, LLP, in Washington, D.C. “Generally, due to the manner in which cryptocurrency is traded however, it falls under the purview of the Securities and Exchange Commission (SEC) in the United States.”

The SEC has several mandates, including investor protection and oversight of the numerous security and commodity markets operating in the United States. Fulfilling these mandates requires the SEC to take steps to evaluate new and developing markets, and to try and intervene when securities or markets or the actors in those areas act in a manner contrary to the public interest.

Bitcoin’s meteoric rise led to a rush to create the next big cryptocurrency, and like all situations where investors are ready to hand over money to be part of the next boom, opportunities arise for criminals to attempt to defraud unsuspecting individuals.

The SEC has recognized this possibility and has taken steps to inform consumers about the possibility of fraud. Specifically, the purely digital nature of the cryptocurrency coupled with the fact that it is generated through an algorithm makes validation of new or emerging cryptocurrencies incredibly difficult.

Bad actors, however, have an uncanny ability to create a website and an app and then push valueless or even nonexistent cryptocurrency on naïve consumers, and then disappear after they receive funds but before they can be identified.

The SEC encourages investors to ask questions of themselves, the platform and the investment itself prior to beginning, including encouraging investors to see if the platform in question is registered with the SEC, whether the platform holds user assets, what sort of protections are provided for user information as well as any assets the platform may hold, and how prices are set on the platform, among other questions.

Investors that take the time to research prior to investment will undoubtedly save themselves the stress of uncertainty at a later date, even if they are unable to save themselves the stress of a fluctuating investment.

By Newport News criminal defense attorney Rocco Columbus with Price Benowitz, LLP.

Operating a motor vehicle with a blood-alcohol content (BAC) more than the legal limit is considered driving under the influence, or more commonly, driving drunk. It does not matter where you are; the operation of the vehicle with a BAC higher than the legal limit is all that is necessary for a charge.

However, the Virginia legislature recently passed a law that would allow the operation of a motor vehicle, with a blood-alcohol level in excess of the legal limit, without running the risk of being arrested for drunk driving. The catch? You can only be on your own property.

Does this make drunk driving morally acceptable within the confines of your property line? Not necessarily, but it makes it legal. However, Virginia law has not changed as it relates to operation of a motor vehicle on any property other than the drunk individual’s own property. Which means that if you drive drunk on the property of another, you can still be charged with driving while intoxicated.

“Another point that is important here is that this law only relates to the criminality of driving drunk: it does nothing to affect civil liability,” said Rocco Columbus, a DUI defense attorney with Price Benowitz, LLP. “Just because you cannot be arrested for driving drunk on your property does not mean that you could not be found civilly liable for damage or injuries to others or their property you cause as a result of driving drunk.”

Columbus thinks that this law is likely to be very narrowly construed and that anyone seeking to be protected by this law will need to have clearly been on their own property.

“This law was rewritten several times because of concerns about it being too broad,” he said. “The courts will be unlikely to entertain any extensions of coverage, so anyone seeking to contest a drunk driving arrest under this law will need a very clear case.”

Another point Columbus makes: this law will not protect you just because you are on your own property when the police finally stop you. “If the police identify you as possibly drunk driving on the way home from the bar, but you drive on to your house before finally stopping in hopes of avoiding arrest, this law will not protect you,” he said.

This column is written and sponsored by D.C. real estate agent and Edgewood resident Jessica Evans. Email her questions at  [email protected].

5 Mistakes That are Costing Sellers Money in Today’s Market

1. Not Preparing
2. Overpricing
3. Skipping Easy Upgrades
4. Not Compensating for Negatives
5. Selling Off Market

Prepare For the Worst, Hope For the Best

In today’s sellers market, it’s easy to fall into the trap of thinking that you don’t really have to do much to prepare your home for sale, because there will be plenty of buyers. In reality, while buyer demand exceeds supply, there are no guarantees that your home is going to sell instantly or for the price that you want without proper preparation.

Your home may never be a 10/10 and that’s OK, but you should put some time and effort into making sure that it shows its best. The little things can add up and impact a buyers impression of your home, don’t skip on repairing anything not in normal working order, thorough cleaning, de-cluttering and de-personalizing and staging — these can all make a difference.

Overpricing

This time of year it is especially easy for sellers to look at similar homes in their neighborhood that have sold and think they can sell for more.

It’s true that prices have been going up, but a solid pricing strategy includes pricing at the market value, not above. It is important to be honest about property condition. If your kitchen is 10 years old, it does not have the same appeal to buyers as a newly renovated kitchen.

Similarly, a 1st floor location in a building is not going to sell for the same price as the 5th. It’s as important as ever to really analyze the differences between your home and the other homes that have sold recently, and price accordingly.

Overpricing can have dramatic effects on the end sales price, in as little as 14-21 days a buyers mindset is likely to shift to thinking that your home is overpriced (which it probably is if its under $1m and sits on the market for that long) and offers will reflect this. Pricing appropriately for the market value is the surest way to get the highest possible sales price.

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By Virginia criminal defense attorney Patrick Woolley with Price Benowitz, LLP.

The opioid epidemic across the country has led to millions of overdoses and thousands of deaths. Virginia is not immune to the crisis, which is why the state is looking to open a needle exchange site later this year in an effort to curb the spread of diseases, specifically hepatitis C.

The needle exchange site will more than likely open somewhere in Wise County, which has been devastated by the opioid epidemic. The county has seen 120 deaths related to opioid overdoses from 2007 to 2017. The hepatitis C rate is almost double the 141 per 100,000 people in a county of 40,000 residents.

“I think it’s really exciting that they have been the leaders in this and are showing the state the way to go and are jumping right in,” Elaine Martin, the director of HIV prevention services for the Virginia Department of Health, said.

The program should be approved relatively soon. The department has received the application for the site and has reviewed the proposed site, according to Martin.

The Health Department released statistics related to hepatitis C for the age range of 18-30, the group most likely to contract the disease via drug use. In 2017 alone, there were 2,141 new cases of the disease in the state. This was an increase from just 840 new cases six years ago.

Virginia became the 28th state to legalize needle exchange programs, doing so in July 2017. No more than 55 localities can apply to become exchange sites. So far, Wise County is the only locality that has applied in Virginia.

“Many organizations, especially law enforcement agencies, are skeptical about approving needle exchange sites,” Patrick Woolley, a Virginia drug crimes attorney, said.

The opioid epidemic in Virginia reached new heights in 2017, according to preliminary data from the Health Department. There were 1,227 deaths related to opioid overdoses, which includes painkillers and heroin. The increase in deaths from 2015 to 2017 was more than 50 percent for the state.

When it comes to hepatitis C cases, Roanoke has the highest rate of the disease in the state. Six years ago, there were six new cases. In 2017, Roanoke had 85 reported cases of the disease.