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Blockchain Proposed Amendments

Lathrop GPM

Digital Assets as Collateral Under the Uniform Commercial Code

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In 2019, the American Law Institute (“ALI”) and Uniform Law Commission (“ULC”) began developing amendments to the Uniform Commercial Code (“UCC”) to adapt to the changing landscape of transactions involving digital assets,...more

Goodwin

SEC’s ATS Re-proposal Doubles Down on DeFi and Digital Asset Regulation

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In April 2023, the SEC re-proposed amendments to Exchange Act Rule 3b-16 to expand the definition of what it means to be an exchange. When the SEC initially proposed these amendments in January 2022, there were zero direct...more

Goldberg Segalla

FASB Seeking Comments on Proposed Amendments Regarding Digital Assets

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The Financial Accounting Standards Board (FASB) is seeking comments by Tuesday, June 6 on its newly proposed Accounting Standards Update (ASU). With the world of digital assets moving at lightning speed, the FASB’s...more

Jones Day

SEC Seeks Additional Comment on Whether DeFi Systems Must Register as "Exchanges"

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In Short - The Situation: The U.S. Securities and Exchange Commission ("SEC" or "Commission") has reopened the comment period for its January 2022 proposal to amend Exchange Act Rule 3b-16 to broadly expand the...more

Harris Beach PLLC

Proposed UCC Amendments Set Guidelines for Security Interests in Digital Assets

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Lenders looking to take security interests in digital assets, including cryptocurrency and non-fungible tokens (NFTs), may gain some certainty in the near future. The Uniform Commercial Code (UCC) sponsoring...more

Dechert LLP

The UCC and Emerging Technologies: Proposed Amendments

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Emerging technologies, such as bitcoin, blockchain and non-fungible tokens (“NFTs”), have led to the creation of massive alternative investment vehicles, additional portfolio diversification as well as expansion of the...more

Latham & Watkins LLP

Responsible Financial Innovation Act Offers Clarity, Safeguards for Digital Assets - Taxation

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Latham & Watkins presents a blog series on the Responsible Financial Innovation Act, which was introduced in the US Senate on June 10, 2022, to create a framework for digital assets, cryptocurrency, and blockchain technology....more

ArentFox Schiff

Virginia Finalizes CDPA Text With the Addition of Three Amendment Bills

ArentFox Schiff on

Connecticut Passes the Fifth US State Consumer Privacy Law - The Connecticut governor has formally signed and passed An Act Concerning Personal Data Privacy and Online Monitoring (CPDA), making this law the fifth US state...more

Womble Bond Dickinson

SEC Proposes to Redefine “Exchange” - New Definition Could Subject Blockchain Crypto Platforms to SEC Regulation

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The Securities and Exchange Commission (“SEC” or “Commission”) has released a proposal to amend Exchange Act Rule 3b-16, Regulation ATS, and Regulation SCI. Criticized by SEC Commissioner Hester Peirce as “too wide-ranging”...more

Perkins Coie

Blockchain Week in Review - August 2021

Perkins Coie on

U.S. Developments - 1. Unamended Infrastructure Bill with “Broker” Reporting Requirements Set for Vote in September - The U.S. House of Representatives locked in a date of September 27, 2021, for the vote on a $1...more

Proskauer - Blockchain and the Law

Issuers of Digital Securities May Benefit from Proposed Changes to Regulation A

In March, the Securities and Exchange Commission (SEC) announced proposed rule amendments to “harmonize, simplify, and improve the exempt offering framework to promote capital formation and expand investment opportunities...more

Katten Muchin Rosenman LLP

Bridging The Week - January 2020 #3

Will the fourth time be the charm? This week, the Commodity Futures Trading Commission will try for the fourth time since 2011 to revise its speculative position limits rules. Details have not been made public, but Heath...more

Perkins Coie

Blockchain Week in Review - December 2019 #2

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U.S. Developments - Federal Reserve Governor Speaks on Stablecoins and Related Risks - On December 18, 2019, Governor Lael Brainard of the U.S. Federal Reserve delivered a speech entitled “Update on Digital Currencies,...more

Sullivan & Worcester

New York Proposed Guidance on Virtual Currencies

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On December 11, 2019, the New York State Department of Financial Services ("DFS") issued two proposed changes to the regime that is in place in New York for the regulation and licensing of virtual currency ("VC") businesses....more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest Featuring Articles on FINRA TRACE Reporting Obligations and FCA Guidance on Cryptoassets

BROKER-DEALER - FINRA Proposes to Ease Restrictions on Initial Equity Public Offerings and New Issues - The Financial Industry Regulatory Authority (FINRA) is proposing to amend its Rule 5130 and Rule 5131 to ease ...more

McDermott Will & Emery

Capital Markets & Public Companies Quarterly: SEC Proposes Amendments to Accelerated and Large Accelerated Filer Definitions,...

McDermott Will & Emery on

During the previous quarter, the SEC proposed new rulemaking to reduce the number of smaller companies that become subject to enhanced reporting requirements through “accelerated filer” and “large accelerated filer” status....more

Kramer Levin Naftalis & Frankel LLP

France Set to Enact the First Regulatory Framework for Crypto-asset Intermediaries

After allowing registration and transfer of unlisted securities through distributed ledgers in 2017 and drafting legislation for initial coin offerings (ICOs) earlier this year, France is contemplating the introduction of a...more

Sheppard Mullin Richter & Hampton LLP

Taking Stock of the “Blockchain Amendments” to the Delaware General Corporation Law

Two amendments have been proposed to the Delaware General Corporation Law (the “DGCL”) to permit corporate record keeping utilizing blockchain databases (the “Blockchain Amendments”)....more

K&L Gates LLP

Delaware Proposes New Legislation Addressing Electronic Databases for Corporate Records, Dating Requirement for Stockholder...

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The Corporation Law Section of the Delaware State Bar Association recently approved amendments (the “Proposed DGCL Amendments”) to the General Corporation Law of the State of Delaware (the “DGCL”), which would allow Delaware...more

Latham & Watkins LLP

What Do the SEC’s Recent Bitcoin Disapproval Orders Really Mean for Investors?

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Regulators responded to a narrow question about trading bitcoin-based securities, with orders that should not limit innovation in bitcoin technologies. On March 10, 2017, the US Securities and Exchange Commission (SEC)...more

Cooley LLP

Alert: Newly Released Delaware Corporate Law Amendments Would Permit Blockchain Shares

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The Corporate Council of the Corporation Law Section of the Delaware State Bar Association has released a long-awaited set of proposed amendments to the Delaware General Corporation Law (DGCL). The amendments are the latest...more

Goodwin

Financial Services Weekly News - January 2017 #3

Goodwin on

Editor's Note - Opposition Emerges to OCC FinTech Charter. In advance of the deadline to submit comments to the Office of the Comptroller of the Currency’s (OCC) paper proposing a federal FinTech charter, the Conference...more

Katten Muchin Rosenman LLP

Corporate and Financial Weekly Digest - Volume XII, Issue 3

FINRA Issues Report on Implications of Blockchain - Broker-Dealer - On January 18, the Financial Industry Regulatory Authority, responding to increased industry interest in distributed ledger technology (DLT) known...more

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