Banking and Finance Law Review’s Post

"The Rise of Cryptocurrency Law" As cryptocurrencies and digital assets continue to grow in popularity and adoption, a whole new field of legal expertise is emerging - cryptocurrency law. Crypto lawyers are tackling complex issues around regulations, taxation, security, and jurisdictional challenges in this rapidly evolving space. Their work is crucial for businesses, investors, and policymakers navigating the crypto ecosystem. This is just one example of how the law is evolving to keep pace with technology and innovation. What other emerging legal specialties are you seeing take shape? I'm fascinated by how the profession is adapting to new realities. #CryptocurrencyLaw #LegalTech #BlockchainRegulation #DigitalCurrency #CryptoRegulations #LegalInnovation #FintechLaw #RegulatoryCompliance #CryptoLawyer #FutureOfFinance

🕊 Bitcoin and other digital assets can be legally recognized as personal property under a new draft law introduced in the British Parliament. The law would give legal protection to digital assets like cryptocurrency, NFTs (non-fungible tokens), digital art, and carbon credits, treating them as personal property. The law would also help resolve legal disputes related to digital assets, such as during divorce settlements or cases of fraud. Traditionally, the law recognizes two categories of property—"things in possession" (like physical objects) and "things in action" (like debts). This Bill introduces a third category for digital assets. #DigitalAssets #CryptocurrencyLaw #Web3Law #NFTs #Bitcoin #DigitalProperty #LegalTech #BlockchainRegulation #PropertyLaw #TechLaw #UKLaw #FinTech #LawCommission #DigitalEconomy #LegalInnovation #RegTech #BlockchainLegal #CryptoRegulation #LegalFramework #UKParliament #DigitalRights

Senior Legal Advisor Expresses Doubt Over SEC's Liberal Stance on Cryptocurrency According to Odaily, Bill Hughes, Senior Legal Advisor and Global Director of Regulatory Affairs at Consensys, has expressed skepticism about the U.S. Securities and Exchange Commission (SEC) adopting a more liberal stance on cryptocurrency. However, he noted that the SEC might highlight the 'tension in legal theory'. #SEC #ETF #DeFi #Metaverse #crypto #compliance #news #virtualcurrency #law #USA #India #Tokenization Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content.

Early in my career I was fortunate to work with some of the first electronic trading platforms that came into Canada. At the time, while these platforms had become common in the U.S., Canadian regulators were taking a very cautious approach and analyzing every aspect of consumer protection possible that could be associated with allowing people to access these platforms, including dispute resolution mechanisms. Eventually of course those platforms gained access and became part of the capital markets landscape in Canada. But then along came cryptocurrency trading with all of its complications (was it a security, was it a derivative, does a platform need the same licence as an exchange or alternative trading system?). For me, as a non-litigator, the last time the jurisdiction of an arbitration clause caught my attention was in the recent Uber litigation. As my Dentons colleague Chloe Snider points out, the courts in Ontario have reminded us again that these clauses have limits. In a recent Arbitration Matters article, Chloe analyzes Lochan v. Binance Holdings Limited, 2023 ONSC 6714, where the Court of Appeal for Ontario refused to stay a proposed class action against the defendant cryptocurrency trading platform in favour of arbitration. The case serves as a reminder that drafting arbitration agreements requires careful consideration of fairness, transparency and accessibility, especially when dealing with standard-form contracts in the consumer context. I don't want to spoil the ending of the movie, but Chloe's article reminds us of the importance of ensuring that arbitration agreements do not create barriers for dispute resolution, aligning with the general public policy principle that agreements to arbitrate should be fair. Read the article here: https://lnkd.in/g8xYeJJW #Arbitration #Cryptocurrency #Litigation

🌟 02/01 #AICoin Highlight News  -  #Fed holds rates steady, indicates it is not ready to start cutting. - Ripple co-founder @chrislarsensf: There was unauthorized access to a few of my personal $XRP accounts, not #Ripple. Law enforcement is already involved. - Dune: Over 50% of #Jupiter airdrop has been claimed. $JUP - #Celsius emerges from Chapter 11 and commences distributions of over $3 Billion of cryptocurrency to creditors. - #FTX lawyer: Plans for a re-launch of the exchange won’t come to fruition, but former customers will get money back in full. - The Singapore High Court approves #DeFiance Capital suit against #3AC. - #Tether records a net profit of 2.85 billion USD in Q4, with a yearly profit of 6.2 billion USD in 2023. - @Optimism: 30 million $OP will be transferred to a dedicated RetroPGF wallet, round 3 grants will start to be delivered from this wallet tomorrow. 🌟 Focus on - Regulatory ban on unregistered exchanges takes effect in the #Philippines.

Australian Cryptocurrency Firm NGS Crypto Renamed As Hiddup Amid ASIC Investigation According to BlockBeats, Australian cryptocurrency company NGS Crypto has been renamed as 'Hiddup'. The rebranding comes as the company is currently under investigation and legal proceedings by the Australian Securities and Investments Commission (ASIC). On June 25, NGS Crypto stated that the reason for their rebranding was due to a trademark dispute. This occurred during the ASIC's case against the company for approximately AUD 61 million (USD 41 million) in investor interest arrears. In April of this year, the assets of the company's directors Mark Ten Caten, Brett Mendham, and Ryan Brown, as well as the company's funds, were all frozen. The renaming of NGS Crypto to Hiddup is seen as a significant development in the ongoing legal proceedings. #SEC #ETF #DeFi #Metaverse #crypto #compliance #news #virtualcurrency #law #USA #India  #Tokenization  Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content.

Great article by Eric Monzo and Tara Pakrouh! I look forward to seeing how these complicated issues play out in the Bankrutpcy courts. 

Attorneys Tara Pakrouh and Eric Monzo unpack the evolving role of bankruptcy courts in cryptocurrency regulation. Discover how these legal battlegrounds shape the future of crypto governance in their latest article "Bankruptcy Courts' Role in Shaping Crypto's Legal Framework" published for Law360. #CryptoLaw #BankruptcyInsights

🇰🇷 During a policy debate on the 'Enforcement and Challenges of the Virtual Asset User Protection Act' held by the office of Democratic Party of Korea lawmaker Min Byeong-deok, there was discussion regarding whether cryptocurrency futures trading, not subject to the Capital Markets Act, should be punished as a gambling offense. Yonsei University Law School Professor Kim Yu-seong emphasized the need for an in-depth review to determine if virtual asset futures trading should be categorized as a gambling crime, with clear standards to be established. 📊🤝 #CryptoRegulation #KoreaCrypto 🌐