Khaitan & Co’s Post

In “Who’s Your Debtor? Group Insolvency and the Curious Case of Celsius,” author Ilya Kokorin reviews the existing complex structure of many international corporate businesses, usually involving dozens of legal entities ✍️ In particular, the author analyzes the distinctive features of cryptocurrency firms, using the cryptocurrency lending platform Celsius as a leading example 🙌 These features notably include combining contract law, insolvency law, property law and tort law. The author then discusses ambiguous terms of use often present in cryptocurrency transactions involving lending platforms, including conflicting contract interpretations, legal standards for contract interpretation, and alternative approaches to contract interpretation 💡 The author concludes with a discussion as to whether substantive consolidation of Celsius Network Limited (CNL) and Celsius Network LLC (LLC) should be ordered in order to resolve the disputes surrounding debtor identity 📖 #BFLR #Crypto #Celsius #CelsiusNetworkLimited #CelsiusNetworkLimitedLLC

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

🕊 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

Discover the world of cryptocurrency law with Roland Amoussou, Partner at Vovan Trocadelyo Group. His volume 2 crypto law guide is now available on Amazon providing insights on international arbitration counsel. Don't let this chance slip away. Dive into the complexities of crypto law with this expert guide today! #RolandAmoussou #VovanTrocadelyoGroup #CryptoLaw #ArbitrationCounsel #Amazon https://lnkd.in/g9FWdwUJ

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

Interested in Smart Contracts? Respond to our Consultation Paper by 16th June #smartcontracts #lawreform #digitalobjects #DAO #law #financiallaw

"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

Are you in financial services? Have you read the Jersey Law Commission consultation on #smartcontracts, #digitalobjects and #DAO? The purpose of the consultation is to outline the importance of smart contracts (and smart legal contracts) for Jersey law and provide a basis for understanding under Jersey law relating to: - The recognition of smart legal contracts in Jersey; - The useage of smart legal contracts in Jersey; - Invite comment in relation to smart legal contracts. The consultation also addresses the concept of digital objects and decentralised autonomous organisations and whether Jersey law should recognise these. Have your say by 16 June 2024. For the full text, see: https://lnkd.in/eVxp5rDF #jerseylawcommission #jerseylaw #lawreform #smartlegalcontract #digitalassets #slc #datatrust #consultation #fintech #jerseyforfintech #jerseyci #web3 #dlt #blockchain

Have you commented on the Jersey Law Commission consultation on #smartcontracts, #digitalobjects and #DAO? Authored by E G. of Monoceros Innovation and #monoceroslaw this consultation is an important step to informing the development of #Jerseylaw in the recognition of #smartlegalcontracts, digital objects and decentralised autonomous organisations in Jersey. Have your say by 16 June 2024. For the full text, see: https://lnkd.in/eVxp5rDF #jerseylawcommission #jerseylaw #lawreform #smartlegalcontract #digitalassets #slc #datatrust #consultation #fintech #jerseyforfintech #jerseyci #web3 #dlt #blockchain

I wrote about the recent change to the law that enables UK authorities to seize someone’s crypto assets without them being arrested. My piece, published by Cointelegraph, explains that the change is due to amendments to the Economic Crime and Corporate Transparency Act 2023, which amends the confiscation regimes in the Proceeds of Crime Act 2002 (POCA). While this change may be thought of as a necessary step forward, I say it could be  “an asset grab powered by a presumption of guilt without any evidence being produced.’’  Law enforcement needs to use the new powers with caution. Link to full article in comments. #crypto #cryptocurrency #cryptoassets #legal #law #lawfirm