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.
Blockchain Legal Resource
Analysis and Insight in Blockchain Law
The Blockchain Legal Resource, published by Hunton Andrews Kurth LLP, focuses on legal developments and regulatory issues related to blockchain technology, cryptocurrencies, and digital assets. It covers topics such as stablecoin legislation, regulatory compliance for crypto issuers, securities law implications for digital assets, anti-corruption statutes affecting international transactions, and the intersection of emerging technologies like AI with legal frameworks. The blog also addresses enforcement guidance from U.S. agencies on sanctions and export controls impacting foreign companies. It serves as a resource for understanding the evolving legal landscape affecting blockchain and related financial technologies.
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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…
Federal Reserve Publishes Discussion Paper on CBDC
On January 20, 2022, the Federal Reserve Board published a discussion paper on the potential for a US central bank digital currency, or CBDC. Entitled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation,” the paper provides…
Top Posts of 2021
The Hunton Andrews Kurth Blockchain team would like to provide you with an update on legal developments in the world of blockchain technology, as posted on this blog. Here is a selection of our top 10 posts from 2021 we…
Senator Outlines Stablecoin Principles
In connection with a December 14, 2021, hearing of the Senate Banking Committee focused on the topic of stablecoins, Ranking Member Pat Toomey (R-PA) released a collection of principles that he hopes will influence the development of a future legislative…
Biden Administration Announces US Strategy on Countering Corruption
On December 6, 2021, the Biden administration released a first-of-its-kind, comprehensive US Strategy on Countering Corruption. The Strategy addresses all angles of the fight against corruption: prevention, investigation, exposure, and prosecution.…
New Cryptocurrency Information Reporting Regime Required on Form 1099 and Form 8300
On November 15, 2021, President Biden signed the Infrastructure Investment and Jobs Act, which significantly expands tax information reporting for certain cryptocurrency transactions. The Infrastructure Bill includes an information reporting requirement for cryptocurrency asset exchanges and custodians on an IRS…
Freddie Mac Addresses Cryptocurrency in Mortgage Lending Criteria
On December 1, 2021, Freddie Mac published Bulletin 2021-36 for Freddie Mac sellers to provide updated guidance on eligibility criteria for qualifying mortgages. Freddie Mac publishes such bulletins on a regular basis for loan originators who wish to resell mortgages…
Senate Banking Committee Probes Stablecoins
On November 23, 2021, the Senate Committee on Banking, Housing, and Urban Affairs sent a series of letters to prominent stablecoin issuers and cryptocurrency exchanges. Citing the recent President’s Working Group on Financial Markets report on stablecoins, the letters seek…
Dubai Financial Services Authority Recently Launched Its Framework for Regulating Digital Assets
On 25 October 2021, the Dubai Financial Services Authority, the regulatory body of the Dubai International Financial Centre (DIFC), announced that it implemented a regulatory framework for investment tokens issued or traded within the DIFC, which follows from the Consultation…