News & Analysis as of

Cryptocurrency Insurance Industry

Walkers

Global Legal Insights FinTech 2024: Ireland chapter

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The Irish government has been supportive of the development of the financial services sector in Ireland and this extends to fintech. The government’s strategy for the development of Ireland’s international financial services...more

Walkers

Global Legal Insights FinTech 2024: Bermuda chapter

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Since the announcement of its Fintech strategy in November 2017, the Bermuda government has positioned Bermuda as a market-leading jurisdiction with respect to Fintech, with a view to Bermuda operating as an innovation hub...more

BakerHostetler

Weekly Blockchain Blog with Client Alert - August 2024 #2

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Crypto Offerings Launch by Major Investment Bank, Asset Manager and Insurer - According to a recent report, a major multinational investment bank and financial services firm is now allowing its investment advisors to pitch...more

Akin Gump Strauss Hauer & Feld LLP

New EU & UK Sanctions

EU’s 12th Sanctions Package - On 19 December 2023, the Council of the European Union (EU) together with the Commission published its 12th round of sanctions....more

Skadden, Arps, Slate, Meagher & Flom LLP

JPEX Is Test Case for Hong Kong’s New Regulatory Regime for Virtual Asset Exchanges

Hong Kong regulators recently brought criminal enforcement actions against virtual asset trading platform JPEX and individuals associated with the platform. This case has become the first opportunity for local authorities to...more

Robins Kaplan LLP

Insuring the Digital Future: Coverage Issues for NFTs

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Just a few years ago, Christie’s auction house sold a non-fungible token (NFT) representing a purely digital work of art for over $69 million. A company called OpenSea, positioned as the Amazon of NFTs, is valued at over $13...more

Zelle  LLP

How Ohio Software Ruling Implicates Crypto Insurance Claims

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In the last week of December 2022, the Ohio Supreme Court published a much-anticipated decision in the EMOI Services LLC v. Owners Insurance Co. case. The decision was bold, and the court made no attempt to limit its holding...more

Womble Bond Dickinson

The Spectacular Fall of FTX: Considerations about Crypto Custody and Insurance

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This morning, the FTX crypto exchange (and more than 130 affiliates) filed for bankruptcy in Delaware. FTX was recently valued at $32 billion, and now it appears to be worth $0. The bankruptcy petition listed at least $10...more

Rivkin Radler LLP

Insurance Update - September 21 2022

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Some important insurance decisions were handed down over the past month. We begin in Ohio, where public nuisance claims by state and local governments over opioids and lead paint were on full display. In Acuity, the...more

Kennedys

Coverage issues raised by cryptocurrency

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Insurers and consumers alike are seeing the emergence of cryptocurrency in their daily lives. As increasing numbers of companies worldwide begin using bitcoin and other digital assets for a host of investment, operational,...more

Latham & Watkins LLP

Hong Kong’s New Crypto Regulatory Framework to Facilitate Greater Institutional Participation

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Regulators released comprehensive guidance to banks, intermediaries, and insurers on virtual asset-related activities. Key Points: ..Banks and intermediaries looking to provide distribution, dealing, and advisory...more

Spilman Thomas & Battle, PLLC

Decoded: Technology Law Insights, Volume 2, Issue 16

The T-Mobile Data Breach is One You Can’t Ignore - "Hackers claim to have obtained the data of 100 million people—including sensitive personal information." Why this is important: Earlier this week, reports began...more

Pillsbury - Policyholder Pulse blog

Covering the Highlight Reel: The Need for Insurance Options to Protect NFT Owners

Winning a championship ring is everything. Just ask the Los Angeles Dodgers, who won 11 National League West titles between their 1988 and 2020 World Series Championships and would likely have traded several of those division...more

Latham & Watkins LLP

NFTs: But is it Art (or a Security)?

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As the market for NFTs heats up, market participants should remain mindful of the regulatory implications of complex schemes. As the current crypto boom has progressed, it seemed Decentralized Finance (DeFi) had cemented...more

Goodwin

Fintech 2020: A Global Survey on the State of Financial Technology

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Letter from Our Co-Chairs - As the digital transformation of financial markets accelerates at breakneck speeds, fintech presents significant opportunities and challenges for both investors and innovators around the world. ...more

Morrison & Foerster LLP

Following U.S. Lead, UK Office Of Financial Sanctions Implementation Issues Maritime Guidance

Much of the world’s focus is on the COVID-19 pandemic, and rightfully so, but sanctions regulators also have their gazes fixed on another issue: the maritime industry. On May 14 2020, we saw the U.S. Departments of State and...more

Cooley LLP

Blog: PLUS D&O Symposium: Rise of Cryptocurrency and Blockchain Creates New Exposures

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Last week, the Professional Liability Underwriting Society (PLUS) held its annual Directors and Officers (D&O) insurance symposium, which brings together key players and thought-leaders in the insurance industry to discuss...more

Zelle  LLP

[Webinar] Blockchain and Bitcoin: Insurance Implications – March 5th, 10:00am CT

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The first cryptocurrency, Bitcoin, was launched in 2009. Just ten years later more than 1600 cryptocurrencies exist. As cryptocurrencies and blockchain technology are increasingly utilized by businesses and individuals,...more

Proskauer - Blockchain and the Law

Wyoming Legislature Advances Blockchain-Related Bills

States have long been “laboratories of democracy” where policymakers can try out certain innovative policies on a local or regional level that could eventually, if successful, become national programs. On the tech side, some...more

Saul Ewing LLP

Blockchain in the Insurance Industry Series: Part 2

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Potential Uses of Blockchain Technology in the Insurance Industry - For the most part, blockchain technology is still in its experimental stages. The most widely known use of blockchain technology outside the insurance...more

Zelle  LLP

Crypto Economy Presents Novel Challenges for Insurers

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To cryptocurrency insiders, the name Satoshi Nakamoto is synonymous with mystery. In 2008, Nakamoto published a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” explaining the “cryptographic hash function”...more

White and Williams LLP

ICO-Related Claims and Insurance Coverage: Questions You Should Be Asking

In this post, we provide a brief overview of initial coin offerings (ICOs), discuss certain recent enforcement actions involving ICOs and highlight potential coverage issues under management and professional liability...more

Carlton Fields

SEC Sidelines Funds Focused on Cryptocurrencies

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In a January 18 letter to two of the fund industry’s leading advocacy groups, the staff of the SEC’s Division of Investment Management advised fund sponsors not to initiate registration of funds that intend to invest...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Breakingviews on Broadcom’s threat to Qualcomm’s board in the form of a slate of 11 director nominees for the company it has, so far, unsuccessfully attempted to purchase....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The Times went all in on Twinkies this weekend, with a look at how they came to be and how their comeback recently helped private equity execs laugh their way to the bank....more

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