As Congress is on its August recess, litigation over digital asset issues continued with major developments in the Yuga Labs trademark case and the SEC cases against Kraken and Consensys. While these matters all involve...more
Crypto Firms Announce New Products in Payments, Investments, Custody - A major U.S. digital asset management company recently announced the creation and public launch of its MakerDAO Trust, which “offers investors the...more
As the Web3 and digital assets ecosystem continues to grow, hacks, scams and other threats remain a major cause for concern and a potential impediment to broader adoption. Data from various sources indicates that after a year...more
The last week of June saw a flurry of legal developments in quick succession. The SEC sued Consensys, the developers of the largest self-custodial digital wallet (MetaMask). The IRS released its digital asset tax rules. The...more
Big news dropped in the past few weeks, which sent shockwaves across the industry: according to a recently filed lawsuit, the SEC has classified the second largest cryptocurrency, Ether, as a security in certain ongoing...more
The March decision in Williams v. Binance from the U.S. Court of Appeals for the Second Circuit marks the latest chapter in the judiciary's struggle to apply the U.S. Supreme Court's 2010 decision in Morrison v. National...more
Fraud involving digital assets, specifically cryptocurrency, is rapidly increasing on both sides of the Atlantic. In the UK, the value of reported crypto-fraud increased 41% between 2022/2023 reaching a record £306m, whilst...more
Stablecoin, Wallet Products Launch; German Bank Launches Crypto Services - Circle, a global fintech firm and issuer of the USDC stablecoin, has announced new smart contract functionality to allow holders of BUIDL, a...more
Blockchain analysis is a powerful tool that provides insight into what is happening on a blockchain network. Who is trading with whom? Which wallets are most active on decentralized finance exchanges? Which wallets are...more
European Bank Launches Stablecoin; Financial Firms Expand Crypto Products - A subsidiary of a major European financial services firm recently launched EUR CoinVertible (EURCV), an Ethereum ERC20 stablecoin backed 1:1 by...more
Bitcoin Association for BSV will release software to facilitate court orders to freeze stolen or lost coins, while some courts recently authorised service proceedings by tokenised airdrop. Earlier this year, in Tulip...more
In a recent precedential decision involving electronic service to an unknown defendant, the High Court of England and Wales approved a special request to issue an interim injunction and permit service of a lawsuit via a...more
In what may be the first of its kind, a New York state court has authorized service via token airdrop in a case regarding allegedly stolen cryptocurrency assets. This form of alternative service is novel but could become a...more
Fundamental to the due process of law is notice—a requirement that all parties are made aware that a lawsuit could alter their legal rights or duties. Most defendants will be served in person by a process server....more
Cryptocurrency, Bitcoin, Ethereum. You have likely heard of these terms as cryptocurrencies, and Bitcoin in particular, have seen immense growth in recent years, the so-called “digital gold rush.” In 2021, cryptocurrencies,...more
The U.S. Attorney’s Office for the Southern District of New York recently charged two individuals for allegedly participating in a scheme to defraud purchasers of “Frosties” non-fungible tokens (or “NFTs”) out of over $1...more
On March 24, 2022, the U.S Attorney’s Office for the Southern District of New York charged two individuals for their alleged participation in a scheme to defraud purchasers of non-fungible tokens (or “NFTs”) known as...more
The battle over blockchain technology and digital assets bears a striking resemblance to the debate over the potential of the internet in the mid-1990s. Where critics see a passing fad with little actual utility or a lawless...more
The crypto industry is abuzz with a recent scandal involving OpenSea, the largest NFT marketplace in the industry (for those not in the know, NFT stands for non-fungible token, and the most common use case at the moment is to...more