The Cleary FinTech Update, published by Cleary Gottlieb Steen & Hamilton LLP, focuses on legal developments and regulatory issues in the financial technology sector. It covers topics such as artificial intelligence and its impact on dispute resolution, quantum computing and cybersecurity in finance, fiduciary duties of cryptoasset software developers, regulatory actions related to digital assets, and enforcement trends involving cryptocurrency companies. The blog addresses emerging challenges at the intersection of technology, finance, and law, including data protection, intellectual property, financial regulation, and compliance matters relevant to fintech businesses and stakeholders.
The New York Department of Financial Services (“NYDFS”) recently announced approval of significant new activities for FinTech-oriented businesses. Over the past week, NYDFS has granted the following approvals:
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On Thursday, June 14th, the SEC Director of Corporation Finance, William Hinman, stated his view that current secondary market trades of Ether are not now securities transactions as part of a speech on the treatment of digital assets under the…
On Thursday, June 14th, the SEC Director of Corporation Finance, William Hinman, stated his view that current secondary market trades of Ether are not now securities transactions as part of a speech on the treatment of digital assets under the…
On Thursday, June 14th, the SEC Director of Corporation Finance, William Hinman, stated his view that current secondary market trades of Ether are not now securities transactions as part of a speech on the treatment of digital assets under the…
This week the New York Department of Financial Services (“NYDFS”) announced approval of significant new activities for its two licensed FinTech-oriented state trust companies, Gemini Trust Company LLC and Paxos Trust Company LLC (formerly known as itBit Trust Company), engaged…
On April 17, 2018, Cleary Gottlieb hosted a conference in the heart of the City of London to discuss key issues in the FinTech space. The conference was well attended, and a wide range of topics were discussed by industry…
On March 19, 2018, President Trump issued an Executive Order prohibiting all U.S. persons and residents from transacting in digital currencies issued by the Government of Venezuela, including the country’s recently launched oil-backed cryptocurrency the “Petro” (PTR) or petromoneda. The…
Following the success of Cleary Gottlieb’s Blockchain and FinTech Opportunities events in New York and California, we will be hosting our first London-based FinTech conference on April 17, 2018.
Sessions will cover Digital Ledger Technology and its use beyond cryptocurrencies,…
On March 27, 2018, Massachusetts Secretary of State William Galvin announced that the state had ordered five firms to halt initial coin offerings (“ICOs”) on the grounds that the ICOs constituted unregistered offerings of securities but made no allegations of…
Part 3: Developments in the United States and the Rising Tide of Enforcement
In 2017, the use of initial coin offerings (“ICOs”) as an alternative means to raise capital took off worldwide. By the end of the year, ICO…
