DLx Law
DLx Law is a boutique law firm advising institutions, developers, investors, and funds on regulatory, transactional, and governance matters at the intersection of digital assets, payments, AI infrastructure, and decentralized organizations, with a retainer-based Fractional General Counsel offering.
- Company typePrivate
- Founded2018
- HeadquartersNew York, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What DLx Law does
DLx Law is a boutique law firm operating as CohenWilson LLP (d.b.a. DLx Law), founded in 2018 to advise institutions, developers, investors, and funds at the intersection of digital assets, payments, financial markets, and AI infrastructure. Co-founded by Managing Partner Angela Angelovska-Wilson (former Chief Legal & Compliance Officer at Digital Asset; Chambers top-ranked in FinTech Legal) and Lewis Cohen, the firm maintains offices in New York, Washington DC (primary office), and Delaware, and operates with a partner-led 1-10 employee team. Clients include an international financial services company operating across 30+ countries, multiple blockchain protocol developers and foundations, fintech and stablecoin companies, AI/compute infrastructure operators (including a Bitcoin mining operator transitioning to high-performance compute), and decentralized organizations.
The firm's practice is organized into four interlocking service lines: Digital Assets & Token Regulation (token launches, securities/commodities perimeter analysis, stablecoins, custody, settlement, tokenized real-world assets); Payments, Banking, Stablecoins & Finance (money transmission, bank-fintech partnerships, AML/KYC/OFAC program design, structured finance, reserve mechanics); AI Infrastructure & Governance (agentic AI frameworks, data center and HPC transactions, power purchase agreements, infrastructure finance); and Decentralized Organizations & Governance (DAO structures, foundations, token governance, open-source ecosystem structuring). The business model is professional services revenue from custom-quoted legal engagements, supplemented by a Fractional General Counsel retainer service that embeds senior counsel into client organizations via Slack, deal calls, and regulatory/commercial decisions. Distribution is direct and partner-led — new matter inquiries are routed through email ([email protected]; [email protected] for Fractional GC) for conflicts clearance and engagement scoping. Pricing is quote-based, not publicly disclosed, with fractional GC structured as monthly retainers and flat-fee structures available for defined projects.
There is no proprietary technology platform; the differentiated operating assets are regulatory engagement and content. The firm submits industry comment letters to federal rulemakers (notably an OCC GENIUS Act NPRM filing in February 2026 alongside WSBA colleagues) and maintains a continuously updated live Policy Tracker covering GENIUS Act implementation, OCC stablecoin NPRM, CLARITY Act, SEC/CFTC enforcement, EU AI Act, NIST AI guidance, CFPB Rule 1033, and Federal Reserve payment infrastructure. Distribution and brand-building rely on thought leadership: the Code & Counsel Substack by Irina Marinescu, the 2025 U.S. Industry Guide for Lawyers & Dev Teams, Stanford Law publications, Global Legal Insights articles, podcast appearances, and a dedicated mailing list. The firm is Chambers & Partners Leading Firm-ranked (2025) in both FinTech Legal and Blockchain & Cryptocurrencies (USA Nationwide), is positioned among the top three blockchain legal practices in the U.S. by Chambers, and operates without disclosed external funding or institutional investors.
DLx Law firmographics
Firmographics- Name
- DLx Law
- Legal name
- CohenWilson LLP
- Website
- https://dlxlaw.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- DLx Law is a boutique law firm advising institutions, developers, investors, and funds on regulatory, transactional, and governance matters at the intersection of digital assets, payments, AI infrastructure, and decentralized organizations, with a retainer-based Fractional General Counsel offering.
- Ownership category
- akta.pro rank
DLx Law industry classification
Industry- Product category
- Legal Services — Digital Assets, Fintech & AI
- NAICS
- Offices of Lawyers (541110), Offices of Lawyers (54111)
- SIC
- Services-Legal Services (8111)
- akta.pro primary industry
- Tokenized Securities & Capital Markets Infrastructure (equities, bonds, funds, ATS/MTF connectivity) (FSAPAIAD)
- akta.pro secondary industries
- Regulatory Reporting, Tax & Audit Trails (reconciliation, provenance) (FSAPAJAI), Royalties, Rights & Revenue Management (on-chain royalties, splits, licensing, enforcement) (FSAPAFAC)
Keywords
Where DLx Law is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
DLx Law business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Legal Advisory Services: Boutique law firm providing regulatory, transactional, and governance legal services to clients at the frontier of digital assets, AI infrastructure, and financial markets. Revenue derived from professional legal fees for matters including regulatory strategy, token structuring, corporate counsel, and complex transactions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Custom legal services quoted per engagement |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels9 records
DLx Law product offering
Product offeringCore offering
DLx Law is a boutique law firm that advises companies, financial institutions, developers, investors, and funds on the regulatory, transactional, and governance dimensions of digital assets, payments, financial markets, and AI/compute infrastructure. The firm delivers specialized legal services across four practice areas—token regulation, payments and stablecoins, AI governance, and decentralized organizations—and supplements them with a Fractional General Counsel retainer offering embedded senior legal counsel. Revenue is generated through professional legal fees, with a live Policy Tracker providing continuously updated regulatory intelligence as a thought-leadership asset.
Product overview
DLx Law is a boutique legal practice offering a portfolio of specialized legal services at the convergence of digital assets, payments, financial markets, and AI infrastructure. The core practice is organized around four interlocking service areas: Digital Assets & Token Regulation (covering token launches, stablecoins, and custody); Payments, Banking, Stablecoins & Finance (covering money transmission, AML/KYC, and structured finance); AI Infrastructure & Governance (covering agentic AI frameworks, data centers, and compute transactions); and Decentralized Organizations & Governance (covering DAOs, foundations, and on-chain governance). These are supplemented by a Fractional General Counsel offering — a retainer-based embedded senior counsel service for companies that need an accountable legal lead before a full-time hire — and a live Policy Tracker tool providing continuously updated regulatory intelligence. The firm is Chambers & Partners-ranked in FinTech Legal and Blockchain & Cryptocurrencies (USA Nationwide).
Differentiator
Problem solved
Functional benefit
Products and services
- Digital Assets & Token Regulation
Quantifiable outcome
- Recognized among top 3 blockchain legal practices in the U.S. by Chambers & Partners
- +1 more outcomes
Companies that use DLx Law
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
DLx Law technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
DLx Law partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered supporting and minor.
- Exp Technology ConsultantssupportingDr. Andreas Freund and Exp Technology Consultants provide technical due diligence and development support across the firm's client roster. Dr. Freund serves as founder and president of Exp Technology Consultants and Interim CTO of MOBI (Mobility Open Blockchain Initiative).
- Protocol LabssupportingDiana Stern serves as Deputy General Counsel at Protocol Labs in addition to her role at DLx Law as Special Counsel. This is a personal dual-role rather than a formal firm partnership.
- Bessemer Venture PartnerssupportingDiana Stern serves as an Operating Advisor at Bessemer Venture Partners in addition to her role at DLx Law as Special Counsel.
- MIT Computational Law ReportsupportingDiana Stern serves as a board member of the MIT Computational Law Report.
- Proof of Stake Alliance (POSA)minorDLx Law assisted in drafting and editing the POSA MEV Definitions and Industry Principles paper. POSA is an industry alliance soliciting engagement to establish common vernacular for MEV concepts and principles for blockchain base layer actors.
- Sila Inc.supportingAngela Angelovska-Wilson is co-founder of Sila Inc., a regulated payments technology company. This represents her personal entrepreneurial involvement rather than a formal firm partnership.
Scale indicators4 records
Recent moves6 records
Expansion highlights6 records
DLx Law competitors and assessment
Company assessmentBroad incumbents
- Goodwin Procter: Large law firm with a prominent blockchain and digital assets practice group advising protocols, token issuers, and financial institutions. Overlaps with DLx on token structuring, securities analysis, and crypto regulatory matters at greater scale and broader geographic reach.
- Sullivan & Cromwell: Elite law firm with a well-publicized digital assets and FinTech practice advising large financial institutions, exchanges, and token issuers. Comparable on regulatory depth and securities/commodities perimeter analysis, with substantially greater bench and cross-border reach.
- Perkins Coie: Long-standing leader in blockchain and digital assets legal practice through its Crypto/Multiverse industry group. Comparable on token law, DAO governance, and regulatory strategy for digital asset businesses, with broader intellectual property and tech law capabilities.
- Davis Polk & Wardwell: Wall Street firm with an active digital assets and crypto regulatory practice advising banks, exchanges, and stablecoin issuers. Comparable on stablecoin structuring, securities regulation, and bank-fintech partnerships but at significantly larger scale and traditional finance orientation.
- Cooley LLP: Major tech-focused law firm with one of the largest dedicated digital asset and crypto practices. Comparable on token offerings, stablecoin regulatory work, and advising protocols, but operates at significantly greater scale as part of a full-service tech/M&A platform.
- Latham & Watkins: Global law firm with a sizeable FinTech and digital assets practice and a payments regulatory group. DLx's managing partner previously practiced at Latham, and the firm's work on bank-fintech partnerships and AML/KYC programs directly overlaps with Latham's FinTech regulatory capabilities.
- Cleary Gottlieb Steen & Hamilton: Premium law firm active in digital asset enforcement defense, regulatory matters, and tokenized securities work. Comparable in regulatory sophistication across SEC/CFTC frameworks, with a broader corporate and litigation platform.
Direct peers
- Anderson Kill: Specialized mid-size law firm with active blockchain, digital assets, and FinTech practices. Directly comparable as a niche-focused firm serving institutional clients in crypto, payments, and emerging technology law.
Emerging players
- CT Horizo LLP: Specialized FinTech and blockchain advisory practice focused on tokenization, stablecoin issuance, and digital asset regulation. Comparable niche position to DLx as a focused legal and advisory boutique serving digital asset issuers, but with a heavier consulting rather than law firm structure.
- Greenvill Littler (blockchain/FinTech counsel): Large labor and employment firm with emerging digital asset and AI regulatory capabilities for technology employers. Comparable as a complementary specialty overlay rather than direct competition; comparable to DLx on AI governance and workforce questions around agentic systems.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
DLx Law social profiles
Digital presenceDLx Law compliance and trust
Trust signalCompliance3 records
DLx Law financial estimates
Financial estimateRevenue estimate
Valuation estimate
DLx Law leadership team
Management profileNumber of profiles
Profiles5 records
DLx Law funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
DLx Law M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about DLx Law
What does DLx Law do?
DLx Law is a boutique law firm that advises companies, financial institutions, developers, investors, and funds on the regulatory, transactional, and governance dimensions of digital assets, payments, financial markets, and AI/compute infrastructure. The firm delivers specialized legal services across four practice areas—token regulation, payments and stablecoins, AI governance, and decentralized organizations—and supplements them with a Fractional General Counsel retainer offering embedded senior legal counsel. Revenue is generated through professional legal fees, with a live Policy Tracker providing continuously updated regulatory intelligence as a thought-leadership asset.
Is DLx Law a public or private company?
DLx Law is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was DLx Law founded?
DLx Law was founded in 2018. It employs 1 to 10 people.
Where is DLx Law based?
DLx Law is headquartered in New York, United States, in the North America region.
How does DLx Law make money?
One revenue line is on record: legal Advisory Services.
Who are DLx Law's main competitors?
Broad incumbents on record are Goodwin Procter, Sullivan & Cromwell, Perkins Coie, Davis Polk & Wardwell, Cooley LLP, Latham & Watkins and Cleary Gottlieb Steen & Hamilton. Anderson Kill is listed as a direct peer. Emerging players are CT Horizo LLP and Greenvill Littler (blockchain/FinTech counsel).
Does DLx Law have an API?
No public API is recorded for DLx Law.
What industry is DLx Law in?
DLx Law's product category is Legal Services — Digital Assets, Fintech & AI. Its primary akta.pro industry code is FSAPAIAD, Tokenized Securities & Capital Markets Infrastructure (equities, bonds, funds, ATS/MTF connectivity), with a secondary code of FSAPAJAI, Regulatory Reporting, Tax & Audit Trails (reconciliation, provenance). Its NAICS code is 541110 and its SIC code is 8111.