Blockchain technology utilizes a distributed digital ledger to record and track information, and can be leveraged to gain transparency and certainty in transactions ranging from cryptocurrency to supply chain tracking. This blog provides information on the legal developments surrounding implementation of blockchain technology, with an initial focus on the financial services sector.
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Jury Finds Crytpo Mining-Linked Products Were Not Securities
by: Jonah R. Hecht | (November 04, 2021)
Case Marks the First Jury Verdict on Whether a Cryptocurrency Product Is a Security
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OCC's Hsu Calls for Bank-Like Regulation of Fintech Companies
by: Jonah R. Hecht | (November 04, 2021)
Hsu says there is a need to "Level Up" banking and finance.
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Highly-Awaited Report Sets Forth Stablecoin Risks and Recommendations to Address Them
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FATF Crypto AML Guidance may put Cryptocurrency Firms at Risk
by: Ella Markina | (November 01, 2021)
On October 28, 2021, the Financial Action Task Force (FATF), an international, intergovernmental anti-money laundering (AML) policy-making body that standardizes financial surveillance rules, released its revised and finalized crypto guidance, calling for jurisdictions worldwide to implement more stringent regulations for crypto firms as a way of preventing money laundering and terrorism financing.
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Banking Regulators to Provide Guidance on Holding Cryptocurrencies
by: Alexandra J. Marinzel | (October 28, 2021)
According to comments made by Jelena McWilliams, Chair of the Federal Deposit Insurance Corporation, federal bank regulators are looking to provide more guidance to banks interested in holding cryptocurrencies.
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SEC Chair Gary Gensler Voices Concern that DeFi Will "End Poorly" Without Regulation
by: Alexandra J. Marinzel | (October 26, 2021)
SEC Chair Gary Gensler expressed concern over the regulation of DeFi while speaking at Yahoo Finance’s All Markets Summit on Monday, October 25th.
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