The task of collecting the evidence that meets this
standard is much easier on a practitioner when the
client is in compliance with the domestic regulations of
"Ideally, the client
seeking to apply
proceeds from
cryptocurrency to the
EB-5 investment should
consult with an attorney
before converting
his digital coins or
tokens into traditional
monetary instruments."
digital exchange markets and his overall accumulation
of wealth from the cryptocurrency trade is consistent
with client’s education, background, and professional
occupation. Ideally, the client seeking to apply proceeds
from cr yptocurrency to the EB -5 investment should
consult with an attorney before converting his digital
coins or tokens into traditional monetary instruments.
Careful planning and structuring of the transaction may
help closing many “gaps” natural for this developing
market due to the imputed “anonymity” of blockchain
technology, while assessing feasibility of putting time and
effort into collecting evidence that meets requirements
of immigration ser vices. When a petitioner presents
credible evidence in support of proving a particular fact
and no contradicting evidence is available, USCIS should
conclude that the petitioner has satisfied his or her burden
of proving the fact. 6 For this reason, it may be advisable
to create an investor’s “portfolio” that boosts his or her
credibility as a sophisticated trader and business person
capable of making decisions in handling digital assets
personally or through designated agent.
Natalia Polukhtin,
founder
and principal at Global Practice based
in Scottsdale, AZ, guides clients on
special issues related to employment-
based immigration. She specializes in
investment immigrant and nonimmigrant
categories. She has unique expertise in
the documentation of complex sources of
funds from former Soviet Union nations
and Eastern European countries. She also
assists clients from all over the world to establish businesses in the
U.S. and to accomplish their immigration goals through investment,
job creation and professional skills. Polukhtin is a blogger, speaker
and consultant on investment immigration issues.
Sources:
1
“Cryptocurrency Market Capitalizations,” CoinMarketCap, https://coinmarketcap.com/ with values
as accessed on January 20, 2020.
2
8 CFR §204.6(j)(3)
“Regulation of Cryptocurrency Around the World,” Global Legal Research Center, Law Library of
Congress, June 2018, available at https://www.loc.gov/law/help/cryptocurrency/cryptocurrency-
world-survey.pdf; last accessed on January 14, 2020
3
4
See Hugo Miller and Leonard Kehnscherper, “Facebook’s Cryptocurrecy Gets a Warm Welcome in
Geneva,” Bloomberg, June 25, 2019; Advisory Letter from the Ministry of Finance, Division of Federal
Taxation, dated October 3, 2016. http://docs.cntd.ru/document/456022863 (in Russian); last
accessed on January 14, 2020.
5
Matter of Chawathe, 25 I&N 369, 376 (AAO 2010).
See, e.g., Young China Daily v. Chappell, 724 F. Supp. 552 (N.D. Cal.1989); Augat, Inc v Tabor, 719
F.Supp. 1158 (D.Mass. 1989); Hong Kong T.V. Video Program, Inc v. Ilchert, 685 F.Supp. 712 (N.D.
Cal. 1988)
6
With absent policy guidance and established precedent,
it is hard to predict with any degree of certainty how each
piece of evidence presented in connection with source of
funds originated from cryptocurrency will be accepted by
the adjudicator. However, the volume of the trade in digital
assets market and cryptocurrencies’ importance and
implications for the local and global economy undeniably
indicate that origination of investment capital from the
trade of cryptocurrencies becoming a new reality for EB-5
practitioners. We have to be prepared to deal with this
reality.
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