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
In Short: The Bank of England ("BoE") has published its final policy statement and procedures for its new Enforcement Decision Making Committee ("EDMC").
The Result: The EDMC will be the BoE's independent decision-making...more
The Court Decision: On September 25, 2018, the Higher Regional Court of Berlin held that bitcoins would not qualify as financial instruments for the purposes of the German Banking Act (Kreditwesengesetz, "KWG"), thus...more
11/1/2018
/ BaFin ,
Cross-Border Transactions ,
Cryptocurrency ,
Distributed Ledger Technology (DLT) ,
EU ,
German Banking Act ,
Germany ,
Initial Coin Offering (ICOs) ,
MiFID II ,
Securities Regulation ,
Token Sales
Spurred by the increasingly rapid growth of innovative business models and technologies, financial services regulators from around the world have jointly announced plans to create a Global Financial Innovation Network...more
The Situation: On Tuesday, May 8, 2018, President Trump announced that the United States has withdrawn from the Iran Nuclear Deal and will fully reimpose its suspended sanctions targeting Iran.
The Result: All currently...more
5/14/2018
/ Economic Sanctions ,
Exporters ,
Foreign Financial Institutions (FFI) ,
Foreign Policy ,
General Licenses ,
Iran ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
National Security ,
Nuclear Weapons ,
Office of Foreign Assets Control (OFAC) ,
SDN List ,
Trump Administration ,
TSRA
On May 8, 2018, President Trump announced that the United States would cease participating in the Joint Comprehensive Plan of Action ("JCPOA"), commonly known as the Iran Deal. This will reimpose, by no later than November 5,...more
5/10/2018
/ Economic Sanctions ,
EU ,
Export Controls ,
Foreign Policy ,
General Licenses ,
Iran ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
New Guidance ,
Office of Foreign Assets Control (OFAC) ,
SDN List ,
Trump Administration
On March 19, 2018, President Trump signed an Executive Order prohibiting U.S. persons and anyone within the United States from engaging in "transactions related to, [the] provision of financing for, and other dealings in ......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 interest continues to grow in virtual currencies, blockchain technology and initial coin offerings, governments are evaluating the benefits and potential risks of these innovations, while considering numerous regulatory...more
11/6/2017
/ Bitcoin ,
Crowdfunding ,
Cryptocurrency ,
Digital Currency ,
Ethereum ,
Financial Adviser ,
Financial Markets ,
Initial Coin Offering (ICOs) ,
Investors ,
Monetary Authority of Singapore ,
Popular ,
Profit Sharing ,
Securities and Exchange Commission (SEC) ,
Securities and Futures Act (SFA) ,
Singapore ,
Token Sales
The Situation: The English Commercial Court heard a dispute regarding a back-to-back trade of distressed debt between an upstream seller and a downstream buyer, via a "riskless principal" broker, which contained an express...more
The Situation: The UK Financial Conduct Authority has released a statement on initial coin offerings. It focuses the circumstances in which an ICO might fall within the scope of the FCA's current regulatory boundaries as well...more
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
For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments...more
3/28/2017
/ Anti-Corruption ,
Avoidance ,
BaFin ,
Corporate Taxes ,
Creditors ,
Cross-Border ,
Debtors ,
EU ,
Foreign Investment ,
France ,
Germany ,
Insolvency ,
Italy ,
Netting Agreements ,
Sapin II