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Blockchain and the Law Blog

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U.S. Senate and House of Representatives Introduce Competing Crypto Regulation Bills

USA - August 8 2023 On July 12, 2023, U.S. Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-N.Y.) proposed a revised version of their previously introduced…

Cryptocurrency Companies: Enforceable Terms of Use Matter

USA - July 27 2023 It is not unusual for users of a platform or of software to challenge the enforceability of a company’s terms of use if they take issue with the…

From Code to Consequence: CFTC Obtains Default Judgment Against Ooki DAO for Commodity Exchange Act Violations

USA - July 20 2023 Unlike traditional corporate entities with a typical hierarchical structure, a decentralized autonomous organization (“DAO”) - a management structure…

CFTC Acts to Ensure Covered Entities Are Considering Evolving Risks from Digital Assets and Other Technologies

USA - June 23 2023 In a post-FTX environment, several financial regulators are taking action to emphasize a policy of sound custody and disclosure practices and to…

Part II: With New DAO Law on the Books, Utah Joins Race with Wyoming and Tennessee to Become U.S. “Crypto Capital”

USA - May 31 2023 As discussed in Part I of this series, state DAO LLC laws have been enacted in the last several years and have become one option for decentralized…

Part I: With New DAO Law on the Books, Utah Joins Race with Wyoming and Tennessee to Become U.S. “Crypto Capital”

USA - May 25 2023 Little-known legal trivia: In 1977 Wyoming was the first state to pioneer the LLC, which is now a commonly applied legal innovation. Fast forward…

DAO Deemed ‘General Partnership’ in Negligence Suit over Crypto Hack, Prompting Decentralized Orgs to Rethink Corporate Formation

USA - April 28 2023 In what appears to be an issue of first impression, a California district court ruled that various defendants allegedly holding governance tokens to…

CFTC Enforcement Highlights Potential Compliance Risks to Crypto Exchanges for Derivatives Trading

USA - April 6 2023 Binance is the latest major crypto industry player to be sued by a U.S. regulator. On March 27, 2023, the CFTC announced that it had filed a civil…

Part II: When You Jump Chains, Do NFTs Stay the Same? Ordinals on the Bitcoin Blockchain

Global, USA - March 31 2023 As discussed in Part I of this series, Ordinals are a pioneering new method of utilizing the Bitcoin blockchain that will usher in new and innovative…

Part I: When You Jump Chains, Do NFTs Stay the Same? Ordinals on the Bitcoin Blockchain

USA - March 29 2023 The NFT community has been humming in 2023 after the recent rise in Bitcoin NFT mints. Ordinals, a non-fungible token (“NFT”) protocol, sent the…