As of this writing, the Ethereum “Merge,” one of the most anticipated events in blockchain history, is finally expected to occur in September 2022. The “Merge” will shift the Ethereum blockchain (native token ETH, or ether) from a
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 6
New York Financial Regulator Brings First AML and Cybersecurity Enforcement Action against Licensed Crypto Trading Entity
In what is the New York Department of Financial Services’ (NYDFS) first enforcement action against a NYDFS-licensed “virtual currency business,” on August 1, 2022, the agency announced $30 million settlement with cryptocurrency investing platform Robinhood Crypto, LLC (“RHC”). The settlement…
Rise of Financial Crime in the NFT Market Elicits New Scrutiny from Regulators
By Katherine Ko
With the enduring popularity of certain NFTs and the promise of their use in the Metaverse and beyond, the hype around the new technology has been accompanied by rising concerns over NFTs being the centerpiece of traditional financial crimes like…
The Other Side of The Coin: Cryptocurrency Assets in Bankruptcy
On July 5, 2022, cryptocurrency brokerage Voyager Digital filed for chapter 11 in the Southern District of New York Bankruptcy Court, citing a short-term “run on the bank” due to the “crypto winter” in the cryptocurrency industry generally and the…
Senators Ask USPTO and US Copyright Office to Conduct NFT Study, with a Focus on IP Issues
UPDATE: On July 8, 2022, the USPTO and the Copyright Office responded to the Senators’ letter and indicated that they would conduct a joint study on the current and potential future applications of NFTs and their respective IP-related challenges.
With…
ESG Issues and Opportunities Arise as Companies and Asset Managers Hone in on Blockchain-Based Technology Investments
By Jason Finger
Beyond the wider adoption of cryptocurrencies by consumers in recent years, companies and organizations have also shown increased interest in crypto-assets in the past year. A myriad of industries, from sports to fashion to art to videogames to music, are…
New York Financial Regulator Publishes Stablecoin Guidance
There have been a number of developments swirling around stablecoins in the past month, including, earlier this week, the recent introduction in the U.S. Senate of a bill (the “Responsible Financial Innovation Act”) that would put in place a regulatory…
Three Questions Brands Must Ask about Trademarks and the Metaverse
Web 3.0 and the promise of the metaverse has generated excitement about new markets for businesses large and small. But as with any technological frontier, legal uncertainties cause new risks to emerge alongside the opportunities. One area currently full of…
From Cryptic to (Some) Clarity: English Law and Policy Rising to the Challenge of Cryptoassets (Part 3)
By Steven Baker & Julia Bihary
In the first two instalments of our series we examined the progress of English law to provide a secure and certain legal infrastructure for cryptoasset investment and management. In particular, we looked at how recent English case law has addressed…
From Cryptic to (Some) Clarity: English Law and Policy Rising to the Challenge of Cryptoassets (Part 2)
By Steven Baker & Julia Bihary
In the first part of this series of articles, we examined the progress of English law to shape and build an infrastructure to support the development of a secure and certain environment for investment in digital assets. We considered how…