MetaverseLegal

🏅 AI Pioneers Awarded 2024 Nobel Prizes in Physics and Chemistry 🏅 Contributed by Andrei Prilowski The impact of artificial intelligence continues to reach new heights, as AI pioneers have now been awarded not just one, but two Nobel Prizes in 2024 — one in Physics and another in Chemistry. 👉 Geoffrey Hinton and John Hopfield were awarded the 2024 Nobel Prize in Physics for their revolutionary work in machine learning and neural networks. Hinton, also known as the "Godfather of AI," developed methods enabling neural networks to learn from their mistakes, a critical element in training modern AI systems. Hopfield, now 91 and still a professor at Princeton, introduced a model in 1982 that mimics how the brain retrieves memories, shaping the architecture of neural networks that we use today. 👉 Meanwhile, the Nobel Prize in Chemistry was also awarded for AI-driven innovation. Half of the prize went to David Baker for his work in computational protein design, and the other half was awarded jointly to Demis Hassabis and John M. Jumper for their groundbreaking work with AlphaFold—an AI system from Google DeepMind that predicts the structure of proteins, helping accelerate drug discovery and deepen the understanding of complex diseases. The recognition of AI’s influence in both Physics and Chemistry this year reflects just how deeply it's woven into the fabric of modern science—changing not only the way machines learn but also how we explore and impact the world around us. #metaverselegal_ai #NobelPrize #MachineLearning #Innovation #Tech

The next FTX restructuring hearing is set for October 7: Claimants under $50,000 could receive payments by the end of 2024, while larger claims may be processed in 2025. But how did we get here?🤔 Contributed by: Celestino Dincă, Lawyer at Zamfirescu Racoti Vasile & Partners The collapse of the #FTX sparked numerous debates regarding restructuring and #insolvency processes in the #crypto industry. It also brought to light issues surrounding the ownership of client assets and how confidential information is protected during bankruptcy proceedings. The Timeline of FTX's Collapse After a wave of allegations concerning mismanagement of funds and insufficient liquidity, FTX began to face major difficulties in November 2022. This collapse had global ramifications, and regulators in various jurisdictions acted swiftly. 🗓️November 9, 2022: Cyprus suspended the operations of FTX Europe, leading to the freezing of local assets. 🗓️November 10: The Securities Commission of the Bahamas froze the assets of FTX's subsidiary and appointed provisional liquidators to handle the insolvency proceedings. 🗓️November 11: Both FTX Express and FTX Australia announced their bankruptcies in the early morning. 🗓️On the same day, FTX Trading Ltd., along with multiple affiliated entities including Alameda, filed for Chapter 11 bankruptcy protection in the U.S. 🗓️November 15: Provisional liquidators in the Bahamas filed a request for recognition of liquidation with the Bankruptcy Court in the Southern District of New York. Key Legal Issues Raised by the FTX Collapse A critical point in such bankruptcy proceedings is the determination of the legal status of client assets deposited on the #cryptocurrency platform. The key question remains: are cryptocurrency deposits considered the property of the clients, or part of the debtor's estate? According to U.S. Bankruptcy Code Section 541, the debtor's assets enter the bankruptcy estate only to the extent of the debtor's legal rights. If the legal title to the assets belongs to the debtor but the client holds an equitable interest, those assets will not become part of the bankruptcy estate. This distinction is crucial, as it determines which assets can be distributed to creditors. Another major concern in crypto #bankruptcies, such as FTX’s, is the protection of clients' personal information. This issue becomes even more pressing in the context of the anonymity and permanence of on-chain transactions, which create risks related to the exposure of sensitive data. The collapse of FTX highlighted not only the vulnerabilities of the cryptocurrency market but also the need for legal clarity regarding client rights and information protection. To prevent the recurrence of such crises, it is essential that both clients and crypto companies are well-informed about the legal risks and obligations in the event of insolvency.

🔗 UK's New Crypto Bill: A Balanced Approach Between MiCA and U.S. Regulation? The United Kingdom's recent introduction of the Property (Digital Assets, etc.) Bill, reflects a distinct regulatory path in the evolving cryptocurrency landscape. Positioned between European and the U.S. regulatory model, the UK's strategy offers a unique blend of clarity and flexibility.   Contributed by Andrei Prilowski   🔑 Key Points:   • Tracing and Ownership in Legal Cases With the recent introduction of the bill, the UK seems to position itself as a pioneer in providing robust legal protections for digital assets. By classifying these assets as property, the new bill offers clearer legal pathways for owners to trace and recover stolen funds in cases of fraud or theft. This development is particularly significant, as neither MiCA nor current U.S. regulations offer the same level of protection. Potentially, it could set a new global standard for the treatment of cryptocurrencies and other digital assets in legal disputes.   • Property Rights & Legal Certainty The UK’s bill, in line with the position of the Law Commission, introduces a new category for digital assets as property, offering clear legal recognition. Currently there are two categories of property, “things in possession” (e.g. gold, money, cars) and “things in action” (e.g. debts, shares). This Bill introduces a third category of “thing” to allow for certain digital assets to attract personal property rights. This contrasts with both MiCA and U.S. frameworks, which lack specific provisions for property classification. MiCA primarily regulates crypto as financial instruments, while the U.S. views most digital assets through a securities lens, without fully addressing their status as property.   • Flexibility vs. Uniformity It might be suggested that, like the U.S., the UK takes a flexible, case-by-case approach, relying on common law to adapt to rapidly evolving crypto technology. At the same time, the UK aims for more legal coherence than the fragmented U.S. system, which is often inconsistent due to multiple agencies (SEC, CFTC) regulating the space. On the other hand, the UK system is set to soften somewhat rigid MiCA framework.   In essence, the UK’s strategy seems to strike a middle ground between the flexibility of the U.S. and MiCA’s structured approach, aiming to create a business-friendly yet legally sound environment for digital assets.   #CryptoRegulation #DigitalAssets #UKLaw #USDT #MiCA #USCrypto #BlockchainLaw #metaverselegal_crypto

🚨 Attention to all academics researching the metaverse: new call for papers! 🚨 Our friends at The Metaverse Society are calling for papers on the Creator Economy! 🌐🎨 If you're a PhD candidate, postdoc, or professor in the UK or Europe with research in this space, this is your moment to shine. ✨ What’s in it for you? - Get published! - Win cash prizes (up to €3,000)! - Present your work in 2025 to industry experts and policymakers! ⏳ Abstract Deadline: 23 September 2024 🌟 Full details: See the attached document Let’s shape the future of the creator economy, together! 💡🚀 Luke Demichel Marine Boulot #CallForPapers #CreatorEconomy #Metaverse #AcademicResearch #Innovation

🚨 Regulatory Challenges in the DeFi Ecosystem: SEC vs. Uniswap 🚨 — In a groundbreaking case, Uniswap Labs has officially responded to the Wells Notice issued by the U.S. Securities and Exchange Commission (SEC). This post dives into Uniswap's defense against claims of operating an unregistered securities exchange and acting as an unregistered broker. ⚖️ Contributed by: Daniele Pellegrini Italian lawyer specializing in EU law, Doctor of Philosophy, University of Florence. 🔗 Decentralized exchanges (DEXs) like Uniswap are reshaping the future of finance by enabling autonomous, peer-to-peer trading without central intermediaries. While these innovations bring unprecedented transparency and accessibility to digital assets like crypto-assets and stablecoins, they have also drawn the attention of regulators. The SEC’s recent Wells Notice has sparked debate on whether these platforms fall under securities laws. 💡 Uniswap’s Response: No Congressional Authority: Uniswap argues that the SEC’s authority is limited to securities, such as “investment contracts,” and does not extend to assets like Ether, altcoins, or stablecoins traded on their platform. Decentralization and Governance: Unlike centralized exchanges, Uniswap’s Protocol is governed by a decentralized community, operating autonomously—creating a new regulatory challenge. 🔍 This case raises critical questions about the future of decentralized finance (DeFi): 1) What are the limits of the SEC’s jurisdiction over decentralized platforms? 2) How will decentralized governance impact future DeFi regulations? 3) Should decentralization shape the future of global financial systems? 4) Can current legal frameworks keep pace with decentralized technologies? Stay ahead of these developments! Follow MetaverseLegal for the latest insights into how DeFi and blockchain innovations are challenging legal norms and reshaping the regulatory landscape. #DeFi #Uniswap #Blockchain #SEC #CryptoLaw #RegTech #Decentralization

🚀 Join MetaverseLegal as Administrator - Shape the Future of Law in Web3 and AI! 🌐 MetaverseLegal is a decentralised community dedicated to exploring and addressing the legal aspects of emerging technologies like the Metaverse, Blockchain, and Artificial Intelligence. Our community is governed collectively by our administrators, ensuring a diverse and inclusive approach to all our initiatives. You can read our Rules of Governance here: https://lnkd.in/e5BuuFfQ We are looking for a new batch of administrators – legal professionals eager to be at the forefront of legal innovation, dedicated, and ready to contribute to the community's development. For a more active role, you can also apply to join the Board, helping steer the strategic direction of MetaverseLegal. For more information and to submit your application, please contact Ekaterina Oger Grivnova or any other administrator, and join our Discord community (https://lnkd.in/eg8KNeNA). #MetaverseLegal #Web3 #AI #LegalInnovation #DecentralisedCommunity #Blockchain #LegalTech #ArtificialIntelligence Bernardo Regueira Campos Filippo Zuti Giachetti Celestino Dincă Daniele Pellegrini Juliette Asso-Richard Elizabeth Chan (陳曉彤) Alba Crespo Vildosola Oana Jeanina Astilean Shriya Pandey Belemir Demirbag Masri, J.D. Felix Yuen Laura Azaria-Beniflah Elif Ceren Gül

Os comparto con ilusión mi artículo "Resolución de conflictos en la web3: el arbitraje como «tantum solutio»" publicado en la Revista de Arbitraje Comercial y de Inversiones del CIAMEN - Real Instituto de Estudios Europeos, que acaba de ser publicado en open access junto con el resto de interesantísimos artículos y estudios que forman parte de este volumen. En este artículo analizo los desafíos jurídicos que acarrea la irrupción de la Web3 y del Metaverso como una nueva dimensión del mundo de los negocios, y examino el arbitraje como mecanismo idóneo para la resolución de los conflictos que trae consigo este nuevo entorno. Sin duda, los desafíos que plantea la interacción entre el mundo real y la esfera digital son una oportunidad de desarrollo sin precedentes para la comunidad arbitral. #Arbitraje #Web3 #Metaverso  #Legaltech

💻 Digital assets are ever more prominent in our society. ❓ How can the legal community keep pace with such continuingly evolving technology❓ 👀 The best way seems to be to keep your eyes open for disputes and the way they are resolved around the world. 🎯 If that's the case, do you really think you can miss out on the opportunity to hear about recent developments in Asia from nothing less than Mariel Dimsey, Secretary-General of HKIAC? The choice is yours 😀 Our advice though is to check out this great event organised by our friends at ArbTech!

Have your morning coffee or afternoon tea with ArbTech ☕ We hope to see you on 📆 24 January 2024 to hear more about digital assets disputes in Asia. ☕ 09:00am UTC / 10:00am CET / 05:00pm HKT It will be a 30 minutes session with Mariel Dimsey, Secretary-General of HKIAC. 📝 Registration: https://lnkd.in/eJk92U7n

If #digital #assets are mostly decentralized, immaterial representations of value, how can centralized institutions (like courts or arbitral tribunals) assert their #jurisdiction over them? 👨⚖️ 👩⚖️   🗓 On 28 November 2023, @2PM CET, Mihaela Apostol will guide us through the steps to establish jurisdiction and the rapidly evolving landscape of decisions across the globe on digital assets.   Mihaela is a dual qualified lawyer (England & Wales and Romania), an arbitrator and the co-founder of ArbTech, a community fostering discussion on the intersection between law and technology.   🏃♀️ Secure your spot at the link in the comments 👇 and join us for a vibrant discussion! CC: Filippo Zuti Giachetti, Ekaterina Oger Grivnova