On September 19, 2024, Governor Newsom signed SB-942 the California AI Transparency Act (“SB-942” or the “Act”) into law. Broadly, the Act, which becomes operative on January 1, 2026, codifies requirements “Covered Providers”...more
California AI Senate Bill 1047, titled the Safe and Secure Innovation for Frontier Artificial Intelligence Models Act (“SB 1047” or the “bill”), has the potential to significantly impact AI development and use. The bill,...more
On August 1, 2024, the European Union's Artificial Intelligence Act (EU AI Act), entered into force. The EU AI Act is the first enacted comprehensive legislation targeting recently developed advanced artificial intelligence...more
日本銀行は、中央銀行デジタル通貨(CBDC)に関する２年間の概念実証(proof-of-concept)リサーチを完了し、現在、実証実験(パイロット・プログラム)を開始している。これにより、日本は、CBDC開発の実証段階に進んだ世界有数の経済国のひとつとなった。金融専門家は、2030年までに5兆ドルのCBDCが最大40億人に流通すると予想している。世界第3位の経済大国として、デジタル円が採用される可能性は、世界の金融システムやデジタル資産金融技術...more
Kilpatrick Townsend attorneys Michael Breslin, Marc Lieberstein, Rob Potter, and Anthony Glosson recently presented a webinar discussing doing business in the metaverse along with how to build a metaverse strategy, transact...more
Join the Kilpatrick Townsend tax team for our winter CLE webinar as team members discuss the current federal, state, and unclaimed property treatment of cryptocurrency, non-fungible tokens and related tax topics. The webinar...more
Once a month, we cover an interesting topic in 60 seconds. This month, Partner Michael Breslin discusses the best practices for companies holding cryptocurrency....more
Despite often operating on a nationwide scale, fintech companies rarely meet the stringent requirements for obtaining a national banking charter. Under the current regulatory landscape, these companies must therefore secure...more
Partner Michael Breslin discusses the U.S. Department of Defense (DOD) contract that Indiana-based SIMBA Chain received to architect a blockchain proof of concept for securing sensitive research and development (R&D) data. ...more
On March 12, 2020, Indiana-based SIMBA Chain announced it received a contract from the U.S. Department of Defense (“DOD”) to architect a blockchain proof of concept for securing sensitive research and development (“R&D”)...more
On Monday, House Democrats unveiled a host of bills for the COVID-19 stimulus package that includes plans for a United States digital dollar, also known as a central bank digital currency (CBDC). On Tuesday, Senator Sherrod...more
In the latest skirmish over the Federal Trade Commission’s (“FTC”) enforcement authority, an entity called Complete Merchant Solutions, LLC (“CMS”) has gone on the offensive and served the FTC with a declaratory judgment suit...more
The country with the most cashless consumer transactions announced this week that it plans to test its own cryptocurrency “that can work as a complement to cash.” Sweden’s central bank, the Riksbank, stated it will be...more
On February 6, SEC Commissioner Pierce gave a speech at the International Blockchain Congress in Chicago where she unveiled her proposal for a safe harbor that would temporarily exempt blockchain tokens from federal...more
Kilpatrick Townsend’s Michael Breslin recently led a panel presentation, alongside Kilpatrick attorney Joshua Benson and AT&T in-house attorney Jason Thelen, covering key concepts and trends that in-house counsel should be...more
The financial services industry has seen an explosive growth in Artificial Intelligence (AI) to supplement, and often supplant, existing processes both customer-facing and internal. Given the potential created by rapid...more
Mike Breslin recently moderated a panel at the American Bar Association's Section of Litigation & Solo, Small Firm and General Practice Division CLE Conference that discussed Fintech trends and developments....more
Kilpatrick Townsend’s Michael Breslin recently moderated a panel of leading experts who discussed “What’s Hot in
Financial Technology: Latest and Greatest Developments and Fintech Trends.” The panel gathered at the American...more
The Consumer Financial Protection Bureau (CFPB or Bureau) has issued proposed revisions to its 2016 final policy on issuing No-Action Letters, along with a proposal to create a new Product Sandbox.
The Bureau proposed its...more
Yesterday, a senior U.S. Securities and Exchange Commission (SEC) official announced that Ethereum will not be regulated as a security – at least not in its “present state.”
The statement was part of a broader speech made...more
1. Less Simple = Less Secure -
The more features and complexity in a distributed application, the more potential vulnerabilities -
Ask: What is our strategic goal? What functionality is necessary vs. just desirable?
...more
Texas Judge Issues Preliminary Injunction Against Dubai-Based Officer of Allegedly Fraudulent Cryptocurrency Offering -
Earlier this year, the United States District Court for the Northern District of Texas entered an ex...more
In 2013, Justice Alito’s concurrence in Oxford Health raised serious questions whether absent class members could be bound by an arbitrator’s incorrect determination that an arbitration agreement authorized class arbitration....more
Bitcoin futures surged as much as 26 percent in their December 10 debut on Cboe Global Markets, creating traffic on Cboe’s website that was so heavy it caused temporary outages. About twenty trading firms actively...more
We previously reported on Social Finance, Inc.’s application for an industrial loan company (ILC) charter. That is now over, at least for the time being. On Friday, October 13, the online lender announced it is withdrawing...more