News & Analysis as of

Distributed Ledger Technology (DLT) Virtual Currency Cryptoassets

Hogan Lovells

UK embraces DLT and tokenisation: direction of travel - Redefining the frontiers of financial system efficiency

Hogan Lovells on

This articles provides some insights on the direction of travel in the UK in relation to distributed ledger technology (DLT) and digital assets, in light of recent legislative and policy developments that signal the UK’s...more

A&O Shearman

MiCAR under the microscope - Part 3: The issuance of stablecoins under MiCAR: Scope and requirements

A&O Shearman on

The huge expansion of crypto-assets over recent years and the popularity of their underlying technology (distributed ledger technology (DLT) or blockchain) have come with their share of challenges, including a significant...more

Troutman Pepper Locke

Fed Provides Details of Novel Banking Activities and Cryptocurrency Supervisory Program

Troutman Pepper Locke on

On August 8, the Federal Reserve Board (Fed) issued a press release providing additional information on its Novel Activities Supervision Program (Program) to monitor novel activities in the banks it oversees. Novel activities...more

Kilpatrick

IRS Publishes Advice Concerning Cryptocurrency that has Declined in Value

Kilpatrick on

On January 13, 2023, the Internal Revenue Service (IRS) Office of Chief Counsel published Memorandum 202302011 titled “[a]pplicability of I.R.C. section 165 to cryptocurrency that has declined in value.” The Memorandum...more

Goodwin

FINRA Exam Targets Broker Crypto Asset Communications

Goodwin on

FINRA recently announced targeted exams of its members focused on certain retail communications concerning “crypto asset” products and services between July 1, 2022 and September 30, 2022. For purposes of the exams, FINRA...more

Cadwalader, Wickersham & Taft LLP

FDIC Weighs In on Crypto Activities

Last week, the FDIC issued a Financial Institution Letter (“FIL”) related to crypto activities, following in some ways in the footsteps of the OCC in requiring notice to the regulator before engaging in crypto-related...more

Cadwalader, Wickersham & Taft LLP

The UK’s Plan to Become a Global Crypto Hub

On April 4, 2022, the UK government announced plans to become a “global hub” for the cryptoasset industry with proposals for the regulation of stablecoins, development of an NFT (non-fungible token) issued by the Royal Mint,...more

A&O Shearman

Solving the crypto-crossword: UK developments in the legal and regulatory treatment of cryptoassets

A&O Shearman on

What are cryptoassets? Regulators, judges, central banks, academics, crypto enthusiasts and many others are still debating this question. Indeed you might think of ‘crypto’ as a pun: both advertently referring to the use of...more

A&O Shearman

Solving the Crypto-Crossword

A&O Shearman on

UK Developments in the Legal and Regulatory Treatment of Cryptoassets - Cryptoassets? What are they? Over 11 years after Satoshi Nakamoto published his white paper “Bitcoin: A Peer-to Peer Electronic Cash System”,...more

Orrick - On the Chain

Power of the Peirce: SEC Commissioner Spends Some of Her Influence on Trying to Help Crypto Network Developers

Orrick - On the Chain on

SEC Commissioner Hester Peirce continues to be one of the most vocal persons in leadership positions at federal regulators who are promoting innovation in digital currency and the blockchain....more

Katten Muchin Rosenman LLP

Bridging The Week - December 2019 #2

The New York State Department of Financial Services proposed a self-certification regime for the approval of new digital coins by licensed virtual currency firms similar to the process applied by the Commodity Futures Trading...more

Katten Muchin Rosenman LLP

Bridging the Weeks - July 2019 #2

The United Kingdom’s Financial Conduct Authority proposed to ban the marketing and sale in or from the UK to retail persons of derivatives and exchange-traded notes based on cryptocurrencies and utility digital tokens,...more

Kramer Levin Naftalis & Frankel LLP

France Adds the Missing Piece to the Law Allowing Blockchain Technology to be Used to Register and Transfer Unlisted Securities

The notion of distributed ledger (formally denominated “shared electronic recording system, or DEEP in French) was first introduced to French law in 2016 by Ordinance No. 2016-520 of April 28, 2016 (the “Minibon...more

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