Global Legal Insights
Global Legal Group Ltd (Verlag)
9781839180774 (ISBN)
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Another year has passed and virtual currency and other blockchain-based digital assets continue to attract the attention of policymakers across the globe. A lack of consistency in how policymakers are addressing concerns raised by the technology
is a major challenge for legal professionals who practice in this area. Perhaps equally challenging is keeping up with the nearly infinite number of blockchain use cases. In 2017 and 2018, it was the ICO craze. In 2019, the focus shifted to security tokens. In 2020, decentralized finance (or DeFi) attracted over several billion dollars' worth of investment. So, while ICOs are still being offered and several groups continue to pursue serious security token projects, we should expect DeFi to draw scrutiny from regulators, such as the U.S. Securities and Exchange Commission (SEC). Once again, legal practitioners will be left to counsel clients on novel issues of law raised by the application of laws and regulations enacted long before blockchain technology existed.
Of course, capital raising is only one application of the technology. Bitcoin, which remains the king of all cryptocurrencies, was intended to serve as a form of digital money. Arguably, it is this use case that has seen the most attention from governments around the word. The European Union enacted more stringent anti-money laundering (AML) regulations impacting virtual currency exchanges operating in the EU. U.S. regulators and state government officials continue to enforce money transmitter statutes and BSA regulations applicable to money services businesses. In the U.S., the state of New York, which was once thought to have over-regulated the industry out of doing business in the state, is now attracting applications from blockchain companies to become state-chartered trust companies. The charter may provide relief to virtual currency exchanges and similar businesses seeking to avoid the nearly 50-state patchwork of licensing statutes.
Institutional and large enterprise companies continue to expand into the space. It is no longer just FinTechs and entrepreneurial clients who need counsel on blockchain-related matters. Whether a small start-up or Fortune 100 company, clients need counsel in areas beyond compliance with government regulation. In some cases, intellectual property rights must be secured, or open source licenses considered to the extent a client's product incorporates open source code. Blockchain technology adopted by enterprise clients may involve a consortium of prospective network users, which raises joint development issues and governance questions.
As with the first two editions, our hope is that this publication will provide the reader with an overview of the most important issues across many different use cases and how those issues are impacted by laws and regulations in several dozen jurisdictions around the globe. And while policymakers continue to balance their desire to foster innovation, while protecting the public interest, readers of this publication will understand the current state of affairs, whether in the U.S., the EU, or elsewhere in the world. Readers may even discover themes across this book's chapters that provide clues about what we can expect to be the hot topics of tomorrow and beyond.
Preface Josias N. Dewey, Holland & Knight LLP
Foreword Aaron Wright, Enterprise Ethereum Alliance
Glossary The Editor shares key concepts and definitions of blockchain
Industry Five years of promoting innovation through education: The blockchain
industry, law enforcement and regulators work towards a common goal
Jason Weinstein & Alan Cohn, The Blockchain Alliance 1
The loan market, blockchain, and smart contracts:
The potential for transformative change
Bridget Marsh, LSTA & Josias N. Dewey, Holland & Knight LLP 5
Progress in a year of mayhem -
Blockchain, cryptoassets and the evolution of global markets
Ron Quaranta, Wall Street Blockchain Alliance 14
Cryptocurrency and blockchain in the 116th Congress
Jason Brett & Whitney Kalmbach, Value Technology Foundation 20
General chapters Blockchain and intellectual property: A case study
Joshua Krumholz, Ieuan G. Mahony & Brian J. Colandreo,
Holland & Knight LLP 38
Cryptocurrency and other digital asset funds for U.S. investors
Gregory S. Rowland & Trevor I. Kiviat, Davis Polk & Wardwell LLP 54
Not in Kansas anymore:
The current state of consumer token regulation in the United States
David L. Concannon, Yvette D. Valdez & Stephen P. Wink,
Latham & Watkins LLP 68
An introduction to virtual currency money transmission regulation
Michelle Ann Gitlitz, Carlton Greene & Caroline Brown,
Crowell & Moring LLP 93
Cryptocurrency compliance and risks: A European KYC/AML perspective
Fedor Poskriakov, Maria Chiriaeva & Christophe Cavin, Lenz & Staehelin 111
Decentralized Finance:
Have digital assets and open blockchain networks found their "killer app"?
Lewis Cohen, Angela Angelovska-Wilson & Greg Strong, DLx Law 126
Legal issues surrounding the use of smart contracts
Stuart Levi, Cristina Vasile & MacKinzie Neal,
Skadden, Arps, Slate, Meagher & Flom LLP 148
Distributed ledger technology as a tool for streamlining transactions
Douglas Landy, James Kong & Jonathan Edwards, Milbank LLP 165
Blockchain M&A: The next link in the chain
F. Dario de Martino, Morrison & Foerster LLP 178
Untying the Gordian Knot - Custody of digital assets
Richard B. Levin, David M. Allred & Peter F. Waltz, Polsinelli PC 197
Country chapters
Australia Peter Reeves & Emily Shen, Gilbert + Tobin 210
Austria Ursula Rath & Thomas Kulnigg, Schoenherr Rechtsanwalte GmbH 222
Canada Simon Grant, Kwang Lim & Matthew Peters, Bennett Jones LLP 229
Cayman Islands Alistair Russell & Jenna Willis, Carey Olsen 242
Cyprus Akis Papakyriacou, Akis Papakyriacou LLC 250
Gibraltar Joey Garcia & Jonathan Garcia, ISOLAS LLP 257
Hong Kong Yu Pui Hang (Henry Yu), L&Y Law Office / Henry Yu & Associates 266
Ireland Keith Waine, Karen Jennings & David Lawless, Dillon Eustace 280
Italy Massimo Donna & Lavinia Carmen Di Maria, Paradigma - Law & Strategy 289
Japan Taro Awataguchi & Takeshi Nagase, Anderson Mori & Tomotsune 295
Jersey Christopher Griffin, Emma German & Holly Brown, Carey Olsen Jersey LLP 306
Luxembourg Jose Pascual, Holger Holle & Clement Petit, Eversheds Sutherland LLP 312
Mexico Carlos David Valderrama Narvaez, Alejandro Osornio Sanchez &
Diego Montes Serralde, Legal Paradox (R) 320
Montenegro Jovan Barovic, Luka Veljovic & Petar Vucinic,
Moravcevic Vojnovic i Partneri AOD in cooperation with Schoenherr 327
Portugal Filipe Lowndes Marques & Mariana Albuquerque,
Morais Leitao, Galvao Teles, Soares da Silva & Associados 332
Serbia Bojan Rajic & Mina Mihaljcic,
Moravcevic Vojnovic i Partneri AOD Beograd in cooperation with Schoenherr 342
Switzerland Daniel Haeberli, Stefan Oesterhelt & Alexander Wherlock, Homburger AG 348
Taiwan Robin Chang & Eddie Hsiung, Lee and Li, Attorneys-at-Law 363
United Kingdom Stuart Davis, Sam Maxson & Andrew Moyle, Latham & Watkins LLP 369
USA Josias N. Dewey, Holland & Knight LLP 384
| Erscheinungsdatum | 26.10.2020 |
|---|---|
| Reihe/Serie | Global Legal Insights - Blockchain & Cryptocurrency Regulation ; 3 |
| Verlagsort | London |
| Sprache | englisch |
| Maße | 156 x 246 mm |
| Themenwelt | Recht / Steuern ► Allgemeines / Lexika |
| Recht / Steuern ► EU / Internationales Recht | |
| Recht / Steuern ► Wirtschaftsrecht ► Bank- und Kapitalmarktrecht | |
| Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung | |
| ISBN-13 | 9781839180774 / 9781839180774 |
| Zustand | Neuware |
| Informationen gemäß Produktsicherheitsverordnung (GPSR) | |
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