NFTs are verifiable cryptographic tokens, which can act as a form of digital receipt. NFTs can also be used to evidence the authenticity, ownership, and provenance of real-world items, such as artwork and real property, or...more
4/21/2022
/ Blockchain ,
Copyright ,
Copyright Infringement ,
Corporate Counsel ,
Entertainment Industry ,
Financial Markets ,
Intellectual Property Protection ,
Investment Opportunities ,
Movies ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Quentin Tarantino ,
Star Wars
CFTC Commissioner asserts that Decentralized Finance ("DeFi") likely violates the Commodity Exchange Act ("CEA") and that the regulator should respond accordingly.
DeFi is an umbrella term encompassing a range of...more
The IRS recently clarified its position on the U.S. income tax treatment of a hard fork. A hard fork occurs when protocols on a blockchain change, causing a "fork" or splintering of the existing blockchain into two distinct...more
The Situation: The requirement for a paper-based note for issuing securities under the German law has been an obstacle for the use of security tokens in Germany. With the release of a draft bill (the "Bill") permitting the...more
The Situation: Authorities in China have cracked down on privately developed cryptocurrency, yet have heavily invested in and encouraged the development of other blockchain applications and services.
The Result: The rapidly...more
1/27/2020
/ Bitcoin ,
Blockchain ,
China ,
Cryptocurrency ,
Cybersecurity ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Government Securities ,
Initial Coin Offering (ICOs) ,
Popular ,
Public Finance ,
Public Financing
The Situation: As the U.S. Securities and Exchange Commission ("SEC") continues to bring enforcement actions to stop unregistered sales of digital tokens, blockchain companies are exploring ways to sell tokens to the public...more
While the crypto market is still in its early stages, the number of asset managers offering funds investing in cryptocurrencies and companies using blockchain or distributed ledger technology ("DLT") is constantly growing....more
7/19/2019
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Anti-Money Laundering ,
Asset Management ,
Blockchain ,
Cryptocurrency ,
Distributed Ledger Technology (DLT) ,
EU ,
Financial Markets ,
Initial Coin Offering (ICOs) ,
Securities Tokens ,
Smart Contracts ,
Token Sales ,
Tokenization
Harriet Territt talks about the advantages of using blockchain in sectors and transactions where security, transparency, and traceability are important. She explains why blockchain is particularly valuable in trade finance,...more
3/26/2019
/ Analytics ,
Banking Sector ,
Blockchain ,
Distributed Ledger Technology (DLT) ,
Financial Services Industry ,
Forgery ,
Goods or Services ,
Popular ,
Retail Tracking ,
Smart Contracts ,
Suppliers ,
Transparency
Partner Harriet Territt explains that simply adding smart code to a blockchain rarely creates a valid smart contract, which requires that the structure surrounding the smart code include the elements of offer, acceptance,...more
The Situation: On January 9, 2019, the European Securities and Markets Authority ("ESMA") issued advice to the EU Commission, Council, and Parliament on initial coin offerings ("ICOs") and crypto assets.
The Result: ESMA...more
2/22/2019
/ Anti-Money Laundering ,
Blockchain ,
Cryptoassets ,
Distributed Ledger Technology (DLT) ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Instruments ,
Initial Coin Offering (ICOs) ,
MiFID II ,
Regulatory Standards ,
Token Sales
The Situation: After joining the Blockchain Partnership and setting up a task force dedicated to digital innovation, Italy enacted a set of rules establishing an overarching legal foundation for the validity and...more
Partner Harriet Territt discusses the issues clients face in implementing blockchain technology, including legal, regulatory, and data privacy considerations across the globe. She also addresses the risk of unintended...more
2/12/2019
/ Blockchain ,
Cybersecurity ,
Data Collection ,
Data Privacy ,
Data Protection ,
Data Security ,
Manufacturer Liability ,
Popular ,
Risk Assessment ,
Sanctions ,
Supply Chain ,
Technology Sector
Partner Harriet Territt discusses how technologies such as blockchain and digital currencies have outpaced regulators and the steps various governmental agencies are taking to address regulatory issues....more
2/6/2019
/ Anti-Money Laundering ,
Blockchain ,
Cryptocurrency ,
Digital Currency ,
Financial Services Industry ,
Government Agencies ,
Popular ,
Regulatory Agenda ,
Regulatory Oversight ,
Technology Sector ,
Virtual Currency
In the third installment of Jones Day's continuing series of blockchain videos, partner Harriet Territt answers the question of whether blockchain technology actually works and describes how clients are using it in their...more
In the next in a continuing series of blockchain videos, partner Harriet Territt describes the issues that general counsel should consider regarding blockchain, including how it will be deployed in a particular business,...more
The Situation: The U.S. Securities and Exchange Commission has launched a special unit to bring enforcement actions against several forms of cyber misconduct.
The Result: The Cyber Unit has already brought enforcement...more
12/20/2017
/ Blockchain ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
Ethereum ,
Initial Coin Offering (ICOs) ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Token Sales ,
Unregistered Securities ,
Virtual Currency
As the interest in blockchain technology grows, companies will be confronted with numerous decisions, challenges, and legal issues pertaining to its adoption. Relevant matters include the overall design and control of...more
9/6/2017
/ Australia ,
Blockchain ,
China ,
Cybersecurity ,
Distributed Ledger Technology (DLT) ,
Financial Institutions ,
Foreign Jurisdictions ,
France ,
Germany ,
Hong Kong ,
Japan ,
Patents ,
Popular ,
Securities and Exchange Commission (SEC) ,
Singapore ,
Smart Contracts ,
Supply Chain ,
UK