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London law firm accepts bitcoin

28th February 2014

A London media law firm has created waves as the first to accept the virtual currency bitcoin as payment by its clients. While Sheridans, a media firm that provides services in the IT sector, still issues its invoices in sterling, it has now started to accept the digital currency from a number of its clients. 

In a move that looks set to impact on the future of the legal industry, and indeed business in the UK as a whole, the firm’s acceptance of the new digital currency is a move that may have a knock-on effect on individuals across the profession, from solicitors to those with company secretary jobs in London.

The bitcoin has been described as unstable in the past, having largely been used on the online black market, but is now looking to enter the mainstream as Sheridans are quick to state that the move is not just an advertising gimmick.

The law firm said that a number of its corporate clients requested to pay in the new digital currency, according to this article, as “they have lots of bitcoin”.