Technology will continue to fundamentally transform both the financial services and legal industries. Initial Coin Offerings, cryptocurrencies, and digital token exchanges are under heavy scrutiny from regulators, who are launching investigations, intervening in trading and offerings, and appear to be planning to bring a significant number of enforcement actions. In addition to the expansion of blockchain, other technologies are driving changes to how financial services are provided and consumed. Artificial intelligence, for example, is playing a greater role in the delivery of financial services. AI is the engine of so-called “robo-advisors” that provide investment advice to customers without human intervention. Machine learning (including deep learning) is also increasingly being used for automated trading, including high-frequency trading, which engages in complex transactions, again without human intervention.