NFT creators and consumers should evaluate the legal and commercial considerations of NFTs that are linked to copyright work.
The Law Commission of England and Wales (the Commission) is a statutory independent body that...more
Bitcoin Association for BSV will release software to facilitate court orders to freeze stolen or lost coins, while some courts recently authorised service proceedings by tokenised airdrop.
Earlier this year, in Tulip...more
The latest analysis of “smarter contracts” provides helpful guidance on the opportunities and potential legal and practical risks in adopting these technologies.
LawtechUK’s latest analysis of so-called smarter contracts...more
8/19/2022
/ Blockchain ,
Contract Formation ,
Contract Management ,
Cryptoassets ,
E-Commerce ,
Information Reports ,
Non-Fungible Tokens (NFTs) ,
Risk Assessment ,
Smart Contracts ,
Software ,
Technology ,
UK
The Court held that software developers do not owe a duty of care to bitcoin owners who lost their private keys.
In Tulip Trading Ltd (TTL) v. Bitcoin Association for BSV and others, TTL claimed that personal computers of...more
5/31/2022
/ Bitcoin ,
Corporate Counsel ,
Cryptocurrency ,
Digital Assets ,
Duty of Care ,
Fiduciary Duty ,
Hackers ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Software Developers ,
UK
An FCA report evaluates the chequered implementation of technology change and identifies risks and best practices to help firms better navigate this change.
Of the nearly 1,000 “material incidents” reported to the UK’s...more
Although still actively developing, current UK policy thinking in relation to cryptocurrencies was set out by the UK Cryptoassets Taskforce in its Final Report (the “Taskforce Report”), published in October 2018.
The...more
11/19/2019
/ Banking Sector ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Custody ,
Digital Assets ,
Financial Services Industry ,
General Data Protection Regulation (GDPR) ,
Income Taxes ,
Popular ,
Regulatory Requirements ,
Smart Contracts ,
UK
UK Treasury Committee report warns that the current level and frequency of disruption and consumer harm is unacceptable.
On 28 October 2019, the Treasury Committee published a report on IT failures in the financial...more
10/30/2019
/ Banking Sector ,
Corporate Communications ,
Corporate Management ,
Financial Services Industry ,
HM Treasury ,
Information Reports ,
Information Technology ,
Outsourcing ,
Risk Management ,
SMCR ,
UK
Insights from Latham’s flagship event: Managing the risk and promise of digitisation in financial services -
The financial services industry is leading the way in outsourcing, with contract values in excess of US$10.7...more
10/21/2019
/ Compliance ,
Digital Currency ,
Enforcement Actions ,
EU ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Outsourcing ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Risk Assessment ,
Risk Management ,
Third-Party Service Provider ,
UK
UK publishes White Paper with hard-hitting regulatory proposals to tackle online harms.
On 8 April 2019, the Home Office and the Department for Culture, Media and Sport (DCMS) published an “Online Harms White Paper”,...more
4/11/2019
/ Child Abuse ,
Civil Liability ,
Corporate Counsel ,
Criminal Liability ,
Duty of Care ,
E-Commerce ,
Enforcement Authority ,
Exploitation ,
Online Platforms ,
Privacy Laws ,
Regulatory Agenda ,
Social Networks ,
Terrorist Threats ,
UK ,
UK Data Protection Act ,
White Papers
Bank of England announces that, for the first time, a non-bank payment services provider has accessed the UK payments system directly.
The Bank of England has announced that a regulated payment services provider (PSP) has...more
FCA warns providers of cryptocurrency derivatives of their regulatory obligations.
The UK Financial Conduct Authority (FCA) has issued a statement reminding businesses offering cryptocurrency derivatives of the requirement...more
The FCA has published a Feedback Statement on Distributed Ledger Technology, setting out its views and proposed next steps.
Key Points:
..Respondents to the FCA’s initial Discussion Paper were supportive of the FCA...more
The UK government’s 2017 Autumn Budget included some measures of particular interest for fintech firms, demonstrating the government’s continued commitment to making the UK a world-leading fintech hub.
The government has...more
Regulatory sandboxes are becoming a global trend, providing plenty of opportunities for innovative businesses.
Pioneered in the UK as part of the Financial Conduct Authority’s (FCA) “Project Innovate”, a regulatory sandbox...more
Initial Coin Offerings (ICOs) involve issuers offering virtual coins or tokens that are created and disseminated using distributed ledger or blockchain technology. The capital raised from the offer will fund the development...more
9/5/2017
/ Blockchain ,
Canadian Securities Administration ,
Cross-Border Transactions ,
Distributed Ledger Technology (DLT) ,
Financial Conduct Authority (FCA) ,
FinTech ,
Howey ,
Initial Coin Offering (ICOs) ,
Monetary Authority of Singapore ,
Securities ,
UK
The Bank of England (BoE) announced on 19 July 2017 that it is extending direct access to its real-time gross settlement (RTGS) service to non-bank payment service providers (i.e., e-money institutions and payment service...more
The Financial Conduct Authority (FCA) has provided an update on its regulatory sandbox initiative. The sandbox is part of Project Innovate, and allows businesses (whether already authorised or not) to test new offerings in...more
RTGS service to be interoperable with distributed ledger technology, to allow greater access and to provide sophisticated data interface for liquidity management.
There is an important opportunity for early-stage...more
UK regulator calls for submissions on potential uses, risks and benefits of distributed ledger technology in the financial services sector.
The Financial Conduct Authority (FCA) published a Discussion Paper (DP17/3) on...more
Innovative businesses in the financial services industry looking to test exciting new financial products and services will be able to apply to the UK’s regulatory sandbox beginning May 9.
The “regulatory sandbox” is the...more