In late May, the Global Shipping Business Network (GSBN), a consortium of ocean carriers and terminal operators, filed a petition with the Federal Maritime Commission (FMC) to obtain an antitrust exemption under the U.S. Shipping Act of 1984. The Act
Blockchain and the Law
The "Blockchain and the Law" blog, published by Proskauer Rose LLP, focuses on legal developments and regulatory issues related to blockchain technology, cryptocurrencies, and digital assets. It covers topics such as tokenized securities, stablecoin regulation, strategic Bitcoin reserves, and the evolving legal landscape for digital finance in the United States. The blog discusses federal and state legislative initiatives, regulatory proposals by agencies like the SEC, and the implications of new laws such as the GENIUS Act. It also addresses the intersection of blockchain with financial markets, compliance, and government policy, providing insights into how legal frameworks adapt to innovations in blockchain and crypto assets.
Latest from Blockchain and the Law - Page 11
Issuers of Digital Securities May Benefit from Proposed Changes to Regulation A
In March, the Securities and Exchange Commission (SEC) announced proposed rule amendments to “harmonize, simplify, and improve the exempt offering framework to promote capital formation and expand investment opportunities while preserving and enhancing important investor protections,” which may increase the…
Major Italian News Agency Uses Blockchain-Based Label to Verify the Origin of Its Articles
The leading Italian news agency, Agenzia Nazionale Stampa Associata (ANSA), which represents 24 major Italian newspapers and distributes over 3,000 news articles daily, announced in early April that it has begun using a blockchain-based solution run on the…
Hawaii is Latest State to Implement a Regulatory Sandbox to Attract Cryptocurrency Business
On March 17, 2020, the governor of Hawaii announced the Digital Currency Innovation Lab, a collaborative effort between Hawaii’s Department of Commerce and Consumer Affairs, the Division of Financial Institutions (DFI) and Hawaii Technology Development Corporation, to regulate business transactions…
Digital Dollars: Amid the COVID-19 Crisis, Support for a U.S. Digital Currency Emerges
During congressional debates over the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), a relatively novel idea was the focus of proposals from the Senate and House of Representatives: “digital dollars.” Several legislative proposals introduced the idea to address…
Smart Contracts: Benefits, Legal Enforceability and Best Practices
The combination of smart contracts with blockchain technology has created new opportunities to conduct business, realize efficiencies and establish legally enforceable digital contracts. In this two-part video series, Proskauer’s Jeffrey Neuburger and Wai Choy share:
- Part 1 (Smart Contracts: Benefits
…
Court Sides with SEC in Ruling to Prevent Telegram from Distributing Grams
By Allen S. Li & Ayisha McHugh
In the latest development in the ongoing dispute between the SEC and Telegram Group Inc. (Telegram), Judge P. Kevin Castel of the U.S. District Court for the Southern District of New York in a March 24, 2020 opinion granted the…
Department of Homeland Security Lists Blockchain Managers Among “Critical Services Workers” During COVID-19 Response
On March 19, 2020, the U.S. Department of Homeland Security, Cybersecurity and Infrastructure Security Agency (CISA), issued Guidance on the essential critical infrastructure workforce needed to ensure national resilience during the COVID-19 response. CISA developed its initial list of critical…
SEC Settles Charges Against Enigma MPC for its Unregistered ICO
On February 19, 2020, the U.S. Securities and Exchange Commission (SEC) settled charges against Enigma MPC (Enigma) related to Enigma’s 2017 issuance of “ENG Tokens”. The SEC found Enigma engaged in an unregistered initial coin offering (ICO), in which it…
Trump Administration Plans to Introduce New AML Requirements for Cryptocurrencies
Treasury Secretary Steven Mnuchin remarked before a hearing of the Senate Finance Committee three weeks ago that “significant new requirements at FinCEN” for cryptocurrencies would be introduced quickly, in response to Senator Maggie Hassan’s (D-NH) question regarding the Treasury Department’s…