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Goodwin

A Token of Appreciation: Cryptoassets and Employee Incentives - a UK Tax Primer

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Businesses in the blockchain and cryptoasset space are increasingly looking to utilise digital currency and other cryptoassets as an alternative to or alongside other, more traditional employee incentive arrangements, such as...more

Morgan Lewis

Bitcoin Identity Trial Concludes Dr. Craig Wright Is Not the Creator of Bitcoin

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Dr. Craig Wright’s claim to be Satoshi Nakamoto, the elusive creator of bitcoin and author of the bitcoin white paper, has been unequivocally dismissed by Mr. Justice Mellor of the British High Court. The judgment, issued on...more

Cooley LLP

Crypto-Recovery: Bitcoin Association Produces Software to Freeze Coins

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As reported in a blog post earlier this year, the High Court of England and Wales held in Tulip Trading Limited v Bitcoin Association for BSV & Others that software developers do not owe a legal duty of care to assist owners...more

BakerHostetler

Crypto and NFT Firms Make Announcements; Treasury Interprets Crypto Reports; Crypto Enforcement Actions by CFTC, SEC, IRS, DOJ and...

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Exchange Reaches Agreement to Sell Assets; New Crypto Products Launch - In a press release this week, Voyager Digital, a cryptocurrency exchange that recently filed for Chapter 11 bankruptcy, announced that it selected the...more

Dechert LLP

Bitcoin fraud: the English Court grants extensive interim remedies to protect investors

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The English High Court has granted a combination of powerful remedies including worldwide freezing orders in favour of a UK resident who fell victim to persons unknown operating a suspected cryptocurrency investment scam....more

Perkins Coie

Blockchain Week in Review - November 2020

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U.S. Developments - DOJ Seizes More Than $1 Billion in Cryptocurrency from Silk Road Hacker - On November 5, the U.S. Department of Justice (the DOJ) announced that it seized more than 69,000 Bitcoin, now worth more than $1...more

Goodwin

Dealing With Crypto-Assets In A Downturn – Lessons From London And Other Jurisdictions

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The next recession will be the first to occur since Bitcoin and other crypto-assets became prevalent in UK businesses. This Client Alert highlights how UK courts and insolvency officeholders may deal with crypto-assets in an...more

Robinson+Cole Data Privacy + Security Insider

British Member of “The Dark Overlord” Hacking Organization Extradited to Face Conspiracy and Identify Theft Charges in the United...

Beginning in 2016, the computer hacking organization known as “The Dark Overlord,” began to target victims in the St. Louis, Missouri area, including various health care providers, several accounting firms, and a medical...more

Perkins Coie

Blockchain Week in Review - November 2019 #3

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U.S. Developments - The Fed Chairman Comments on Potential for a US-backed Digital Currency - Jerome Powell, Chairman of the Federal Reserve, wrote to Congress this week discussing the merits of implementing a central...more

Polsinelli

Regulatory Activity in the Digital Asset Space

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The end of July saw continued regulatory activity in the digital assets space. This entry of BitBlog will cover some of the highlights. 1) The U.S. Securities and Exchange Commission (“SEC”) continues to dole out bits of...more

A&O Shearman

Stablecoins

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Over the recent months there has been a proliferation in the development of stablecoins, namely crypto-assets pegged in value to fiat currency or other assets. While the price fluctuations of other crypto-assets make them...more

Latham & Watkins LLP

UK Cryptoassets Taskforce Publishes its Final Report

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The Taskforce’s final report outlines the UK’s policy and regulatory approach to crypto-assets and distributed ledger technology in financial services. Key Points: ..The Report provides an overview of crypto-assets and...more

Orrick, Herrington & Sutcliffe LLP

UK and EU Move Slowly Toward Virtual Currency Regulatory Scheme in Recent Statements

In the last month, UK and European politicians have been vocal about the regulation, or lack thereof, in the virtual currency sphere. ...more

Orrick, Herrington & Sutcliffe LLP

New EU and UK Anti-Money Laundering Rules: The Fifth AML Directive Extends to Cryptocurrencies

The Fifth Anti-Money Laundering Directive (MLD5) entered into force in July 2018. MLD5 updates the legal framework under the Fourth Anti-Money Laundering Directive (MLD4) and must be implemented by the EU member states by...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

U.S. Financial Industry Developments - FINRA Requests Comment on Financial Technology Innovation in the Broker-Dealer Industry - On July 30, 2018, the Financial Industry Regulatory Authority ("FINRA") published a...more

Hogan Lovells

Bank of England confirms renewed payments systems will interface with blockchain

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What has happened? The Bank of England (BoE) has confirmed that its revamped real-time gross settlement (RTGS) system will be compatible with interface systems that run on blockchain-based technology....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Milwaukee-based Harley-Davidson announced on Monday that it will shift some of its motorcycle production overseas “to avoid retaliatory tariffs imposed by the European Union” in response to the White House’s trade moves....more

WilmerHale

Digital currencies: taming an unpredictable market

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On 22 February 2018, the Treasury Committee launched a new inquiry into digital currencies and distributed ledger technology. Digital currencies such as Bitcoin – often known as cryptocurrencies – are digital tokens which...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Walmart’s shares took a hit yesterday on Q4 results that showed slowing online sales and below-expected earnings despite a rise in revenue....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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More trouble for the embattled British PM Theresa May. We learned yesterday that Britain’s second-largest construction firm—Carillion—was forced into liquidation after amassing a staggering $1.35 billion in debt. The downfall...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The UK and EU made a significant breakthrough early this morning to “unlock” Brexit divorce negotiations. The still-rough agreement would see Britain repaying $53 billion and addressed in at least vague terms thorny issues...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The Senate Banking Committee has voted out of committee a bipartisan effort to ease Dodd-Frank regulations. The bill in question could “drastically cut” the number of banks subject to heightened Fed oversight and “would ease...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Wells Fargo is again in federal regulators’ crosshairs. The OCC has dubbed the bank a repeat offender and is weighing a “formal enforcement action” over “improprieties in its auto-insurance and mortgage operations”....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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So much for the quiet off-ramping for SoFi’s Mike Cagney. The fintech company’s board announced on Friday that Cagney is out immediately as CEO, not at the end of the year as Cagney had announced earlier in the week....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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In an apparent effort to appease dissatisfied activist investors, chemicals giant DowDuPont has announced plans to change its breakup plan with an reorganizational structure that focuses on three “distinct businesses: an...more

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