In this month’s Privacy & Cybersecurity Update, we examine the FTC’s blog post suggesting an increased focus on protecting consumers’ sensitive data and Plaid’s settlement to resolve a class action arising from its data...more
On July 21, 2022, the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) each brought insider trading charges against a former Coinbase product manager, his brother and a close friend for using...more
7/27/2022
/ CFTC ,
Coinbase ,
Confidential Information ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Insider Trading ,
Material Nonpublic Information ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Securities and Exchange Commission (SEC)
Recent guidance from the New York State Department of Financial Services (DFS) and a proposed bill in the U.S. Senate portend more regulatory and legislative activity to clarify the status of and requirements for stablecoin...more
In this month's Privacy & Cybersecurity Update, we examine California’s draft amended regulations for the California Privacy Rights Act, the introduction of comprehensive federal privacy legislation in Congress and the U.K.’s...more
On June 9, 2022, Sens. Patrick Leahy (D-Vt.) and Thom Tillis (R-N.C.) sent a letter to the directors of the U.S. Patent and Trademark Office (PTO) and the U.S. Copyright Office requesting a study of intellectual property (IP)...more
The recent indictment of an employee of OpenSea, a prominent NFT marketplace, highlights the risk of trading digital assets based on the improper use of confidential information, even where the digital asset is not a...more
In recent years, innovation in the blockchain or “Web3” space has been impacted by uncertainty on the regulatory front. Undoubtedly, the greatest area of uncertainty has involved the Securities Exchange Commission (SEC) and...more
In this month’s Privacy & Cybersecurity Update, we review Connecticut’s passage of a comprehensive privacy law (making it the fifth state to do so), the newly enacted federal Better Cybercrime Metrics Act, New York’s new law...more
6/3/2022
/ COPPA ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Processors ,
Data Protection ,
Data Security ,
Federal Trade Commission (FTC) ,
General Data Protection Regulation (GDPR) ,
Information Commissioner's Office (ICO) ,
Personal Data ,
Popular ,
State Privacy Laws
A first-of-its-kind putative class action lawsuit filed in the Southern District of California is testing the legal argument that a decentralized autonomous organization (DAO) is a general partnership exposing its members to...more
In this month’s Privacy & Cybersecurity Update, we examine the FTC chair’s comments suggesting a potential shift in its approach to data privacy regulation, the European Data Protection Board’s request for comment on its...more
5/4/2022
/ Cybersecurity ,
Data Breach ,
Data Collection ,
Data Privacy ,
Data Protection ,
Data Security ,
Federal Trade Commission (FTC) ,
Food and Drug Administration (FDA) ,
Medical Devices ,
Personal Data ,
Personally Identifiable Information ,
Popular
In the non-fungible tokens (NFT) space, many have focused their attention on how the Securities and Exchange Commission (SEC) may view these digital assets. However, state laws are important, as well, as evidenced by recent...more
On April 6, 2022, Sen. Pat Toomey (R-Pa.), the ranking member of the Senate Banking Committee, and an advocate for clarity in cryptocurrency regulations, released a discussion draft of legislation that would provide a...more
In this month’s Privacy & Cybersecurity Update, we analyze the U.S. and EU’s joint commitment to create a new data transfer framework to replace the invalidated Privacy Shield, as well as Utah’s new state privacy law and...more
4/5/2022
/ Court of Justice of the European Union (CJEU) ,
Cybersecurity ,
EU ,
EU-US Privacy Shield ,
European Commission ,
European Economic Area (EEA) ,
General Data Protection Regulation (GDPR) ,
International Data Transfers ,
Personal Data ,
Schrems I & Schrems II ,
Standard Contractual Clauses
The Web3 community has long expressed frustration at the lack of clarity emanating from the SEC regarding the treatment of cryptocurrencies and other digital assets under current securities laws, with many characterizing the...more
In December 2020, the Securities and Exchange Commission (SEC) filed an action against Ripple Labs, Inc. and two of its executives, alleging they raised over $1.3 billion through an unregistered ongoing securities offering of...more
As the digital asset sector has exploded in recent years, there has been growing frustration in the U.S. at the lack of clarity on the application of existing laws to this new ecosystem and a perceived lack of coordination...more
In this month’s Privacy & Cybersecurity Update, we examine the Illinois Supreme Court’s decision in a case involving workers compensation and the state’s Biometric Information Privacy Act, U.K. data transfer regimes before...more
3/2/2022
/ Biometric Information ,
Biometric Information Privacy Act ,
COPPA ,
Cybersecurity ,
Data Collection ,
Data Privacy ,
Data Protection Authority ,
EU ,
Federal Trade Commission (FTC) ,
General Data Protection Regulation (GDPR) ,
IL Supreme Court ,
International Data Transfers ,
Internet of Things ,
NIST ,
Personal Data ,
Popular ,
Standard Contractual Clauses
This is the fourth in a series of articles in which we discuss recent efforts by regulators and other governmental bodies to set expectations and standards, or pursue governmental initiatives, with respect to cryptocurrencies...more
In this month’s Privacy & Cybersecurity Update, we examine the U.S. Chamber of Commerce’s letter to Congress calling for federal cybersecurity legislation, the New York attorney general’s report on “credential stuffing”...more
2/3/2022
/ Biometric Information Privacy Act ,
Commercial General Liability Policies ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Privacy Rights ,
Cybersecurity ,
Data Collection ,
Data Privacy ,
Data Protection ,
Data Security ,
Federal Trade Commission (FTC) ,
FTC Act ,
Medical Devices ,
Personal Information
Takeaways -
Most existing agreements covering the exploitation of intellectual property rights did not contemplate how NFTs should be treated.
Drafting and negotiating agreements involving NFTs requires an...more
1/25/2022
/ Blockchain ,
Copyright ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Derivative Works ,
Digital Assets ,
FinTech ,
Initial Coin Offering (ICOs) ,
Intellectual Property Protection ,
Name and Likeness ,
Non-Fungible Tokens (NFTs) ,
Securities and Exchange Commission (SEC) ,
Smart Contracts
In this month’s Privacy & Cybersecurity Update, we review the TSA’s new cybersecurity requirements for critical U.S. infrastructure, the White House OMB’s new guidance on cyber incident reporting procedures and the U.S.-U.K....more
In this month’s Privacy & Cybersecurity Update, we examine the FBI’s warning to companies regarding cyberattacks targeting confidential M&A activity, as well as the Cybersecurity and Infrastructure Security Agency’s directive...more
12/1/2021
/ Cyber Attacks ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
EU ,
European Data Protection Board (EDPB) ,
FBI ,
International Data Transfers ,
Ransomware ,
Robocalling
Two new Chinese laws dealing with data security and privacy came into force in the fall of 2021 that are likely to have an impact on many multinational companies operating in China or whose operations touch China. These two...more
11/4/2021
/ Algorithms ,
Artificial Intelligence ,
China ,
Corporate Counsel ,
Cybersecurity ,
Data Privacy ,
Data Protection ,
Data Security ,
International Data Transfers ,
Personal Information ,
Personal Information Protection Law (PIPL)
In this month’s edition of our Privacy & Cybersecurity Update, we examine the FTC’s changes to the Gramm-Leach-Bliley Act’s Safeguards Rule and the CFPB’s order requiring six tech companies to disclose information regarding...more
11/2/2021
/ Consumer Financial Protection Bureau (CFPB) ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Federal Trade Commission (FTC) ,
GEICO ,
Gramm-Leach-Blilely Act ,
Hackers ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Multidistrict Litigation ,
Putative Class Actions ,
Safeguards Rule
In this month’s edition of our Privacy & Cybersecurity Update, we examine the California Privacy Protection Agency's public comment period for the California Privacy Rights Act, the U.K. government's public consultation...more
10/4/2021
/ California Consumer Privacy Act (CCPA) ,
Consumer Privacy Rights ,
Cybersecurity ,
Data Collection ,
Data Privacy ,
Data Protection ,
Data Security ,
EU ,
Fourth Amendment ,
General Data Protection Regulation (GDPR) ,
Office of Foreign Assets Control (OFAC) ,
Personal Information ,
Public Comment ,
Surveillance