In one of the first criminal cases brought under US sanctions laws involving cryptocurrency transactions, a federal magistrate judge approved the Department of Justice’s criminal complaint. In the opinion unsealed on May 13, 2022, US Magistrate Judge Zia M. Faruqi
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California Governor Signs Blockchain Executive Order
On May 4, 2022, California Governor Gavin Newsom signed executive order N-9-22 regarding blockchain and crypto assets, with the objective to “spur responsible web3 innovation, grow jobs, and protect consumers.” According to the accompanying press release, the executive order “aims…
Cryptocurrency As Compensation: Beware Of The Risks
A small but growing number of employees are asking for cryptocurrency as a form of compensation. Whether a substitute for wages or as part of an incentive package, offering cryptocurrency as compensation has become a way for some companies to…
Dubai Issues Its First Crypto Law Regulating Virtual Assets
On February 28, 2022, the Emirate of Dubai enacted Law No. 4 of 2022 on the Regulation of Virtual Assets and established the Dubai Virtual Assets Regulatory Authority. By establishing a legal framework for businesses related to virtual assets, including…
Please Join Us! Cryptocurrency, NFTs, and Retail: Protecting Your Brand With Trademarks
Please join Hunton Andrews Kurth LLP for a webinar:
Intellectual Property and the Blockchain, Part 1
Cryptocurrency, NFTs, and Retail: Protecting Your Brand With Trademarks
Tuesday, April 26, 2022
12:30 pm ET
It is well-known that a trademark is…
SEC Issues SAB 121 Providing Accounting Guidance for Companies that Safeguard Digital Assets
On March 31, 2022, the staff of the Division of Corporation Finance and the Office of the Chief Accountant of the SEC issued Staff Accounting Bulletin No. 121 (SAB 121), which “adds interpretive guidance for entities to consider when they…
DOJ Brings Criminal Charges Against Two Defendants in NFT Fraud
On March 24, 2022, the US Attorney for the Southern District of New York announced charges against two defendants and alleged an ongoing fraud involving the sale of nonfungible tokens. The federal criminal case is among the first involving NFTs…
Rising Trend in NFT Litigation Over Popular Brands
Two leading international brands have filed lawsuits in 2022 to prevent the sale of digital NFTs depicting their physical products, and both cases will test existing trademark law and impact online retailers of NFTs.…
Treasury Targets Nonfungible Tokens
The red-hot market for nonfungible tokens, or NFTs, continues to draw regulatory scrutiny. A Department of the Treasury report issued on February 4, 2022, is the latest to focus on potential regulatory issues associated with this digital asset class.…
How Retailers Can Make the Blockchain Work for Them in the IP Space
The intersection of retail sales and blockchain technology is a current “hot” topic. But what does this actually mean for retailers? Is the time and money needed to invest in new technology worth the cost? What intellectual property protection is…