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Reed Smith LLP | USA | 7 Jun 2023

Web3 round-up: best of May 2023

Welcome to Reed Smith's monthly DigiDigest series on all things metaverse and web3. These short updates cut through the noise and put the most…
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DLA Piper | USA | 26 May 2023

Do protocol upgrades have tax consequences?

On April 21, 2023, the IRS released Chief Counsel Memorandum 202316008 addressing whether a protocol upgrade on the blockchain that did not result in…
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Cadwalader Wickersham & Taft LLP | USA | 24 May 2023

IRS Says Crypto Protocol Changes Are Not Taxable

On April 21, 2023, the IRS released Chief Counsel Advice Memorandum 202316008 (the "CCA"), which provides that cryptocurrency protocol changes are…
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King & Wood Mallesons | China, Hong Kong | 23 May 2023

Expanding Mainland China NFT platforms into Hong Kong - What do you need to know?

Currently, there is no legal definition of “non-fungible token” or “NFT” under Hong Kong laws. That said, the Financial Action Task Force (“FATF”)…
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Baker & Hostetler LLP | USA | 22 May 2023

Fintech Firms Pursue DeFi, CBDC Initiatives; Blockchain Integrations Announced; IRS Trains Ukraine on Crypto; FATF Voices Crypto AML Concerns

MetaMask, a web3 Ethereum Network cryptocurrency wallet, recently announced a new integration with a major U.S. payments and fintech firm…
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Lexology PRO | European Union, United Kingdom | 18 May 2023

Financial services: key UK & EU compliance updates (12 - 18 May)

The EU Council adopts MiCA, the UK’s PRA releases its policy for model risk management, and the EBA publishes its draft Regulatory Technical Standards on consolidation for investment fund groups – plus other key updates.
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Berkeley Research Group, LLC | Global, USA | 18 May 2023

Blockchain for Business: Applications, Implementation, and Innovation

Businesses stand to save billions by embracing blockchain technology. Here's what they need to know We hear it all the time: how will the decline in…
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Kramer Levin Naftalis & Frankel LLP | USA | 15 May 2023

Blockchain Patents and Litigation — Updated May 2023

Blockchain had a challenging year but continues to grow as a technology with broad applicability. Here, we update our previous article on the state…
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Shoosmiths LLP | European Union, United Kingdom | 12 May 2023

Intellectual Property and NFTs: A Discussion of Copyright, Trade Marks and some Key Issues

Although NFTs have existed for a number of years, and have changed the world of merchandise and art, it is worth considering how Intellectual…
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Baker McKenzie | USA | 4 May 2023

SEC Settles Charges With Coinme Over Improper ICO

Coinme is a company that started by making cryptocurrency transactions available through ATM machines. It originally used its own ATMs but, in…
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