As the global digital asset industry continues to grow, regulators worldwide have increased efforts to define and shape the legal landscape through various approaches. In the UAE, for example, the Financial Services...more
10/25/2021
/ Africa ,
Bitcoin ,
Cryptoassets ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Digital Currency ,
Disclosure Requirements ,
Enforcement Actions ,
Ether ,
Financial Markets ,
Investment ,
Middle East ,
Popular ,
Regulatory Agenda ,
Regulatory Oversight ,
Token Sales ,
United Arab Emirates (UAE)
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: Following the enactment earlier in 2019 of new French legislation to regulate activities related to digital assets (including cryptocurrency but excluding tokenized securities), final regulatory provisions were...more
1/2/2020
/ AML/CFT ,
Cryptocurrency ,
Digital Assets ,
Financial Instruments ,
Financial Statements ,
France ,
Initial Coin Offering (ICOs) ,
Investment ,
New Legislation ,
Popular ,
Regulatory Oversight ,
Token Sales ,
Virtual Currency
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
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 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
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