• How the SEC Can Be a Better Lifeguard
    by: Daniel S. Alter | The WLF Legal Pulse | (05/31/2018)

    Commissioner Peirce’s Insightful Comments on Regulators’ Role in a Sea of FinTech Innovation. In this entry for The WLF Legal Pulse, the blog of the Washington Legal Foundation, partner Daniel Alter of the FinTech & Blockchain Practice identifies the divergent regulatory approaches for the SEC as regulatory frameworks for crypto assets take shape.

  • Arbitration in the cryptocurrency world promises to be very different from traditional “securities” arbitrations against broker-dealers. The latter are conducted pursuant to the strict rules and procedures of the Financial Industry Regulatory Authority. In contrast, the parties likely to be involved in cryptocurrency disputes have far greater freedom in determining which disputes are arbitrable, the particular arbitration forum and venue for resolving the disputes, and the applicable procedures and remedies. The article attached, which appeared in Law360 on May 30, examines the predispute arbitration clauses that certain major digital asset exchanges require customers to agree to as a condition of opening an account, and considers how arbitrations in the cryptocurrency world will differ from traditional securities arbitration and the ramifications for industry participants.

  • Did your company prepare for GDPR, Europe’s sweeping new data privacy law? Joseph Facciponti and Katherine McGrail’s Cybersecurity Law360 article details how companies can show momentum toward GDPR compliance by moving quickly and prioritizing their compliance efforts.

  • The CFTC's Division of Market Oversight and Division of Clearing and Risk recently issued an advisory providing guidance to exchanges and clearinghouses regarding virtual currency derivatives to be listed or cleared.  Entities already listing or clearing virtual currency derivatives, as well as those considering doing so, should be aware of the compliance and enforcement implications stemming from the advisory.

  • A new law might provide blockchain companies a new way to raise funds. On May 22, 2018, the U.S. House of Representatives passed S. 2155, the “Economic Growth, Regulatory Relief, and Consumer Protection Act.”  The Senate had passed the bill previously.  The bill now goes to President Trump, who is expected to sign it into law.

  • The CFTC's Division of Market Oversight and Division of Clearing and Risk recently issued an advisory providing guidance to exchanges and clearinghouses regarding virtual currency derivatives to be listed or cleared.  Entities already listing or clearing virtual currency derivatives, as well as those considering doing so, should be aware of the compliance and enforcement implications stemming from the advisory.