In the third episode of “Understanding Blockchain,” Morrison & Foerster’s Susan Gault-Brown and Dario de Martino discuss one of blockchain’s foundational technologies – cryptography. This ongoing series is dedicated to providing an overall understanding of blockchain technology and how companies can use it to share, …›
It’s all very well to issue regulatory guidance – but it’s what you do to enforce it that really counts. The UK financial services regulatory agencies have imposed fines exceeding $2 million on a UK bank that did not implement enough oversight on an …›
On July 10, 2019, Blockstack Token LLC (“Blockstack”), a wholly-owned subsidiary of Blockstack PBC, a Delaware public benefit corporation, became the first company to have an offering of digital assets qualified by the U.S. Securities and Exchange Commission (“SEC”) under Regulation A. Blockstack is a …›
Recent Congressional activity reflects increasing concern in the fair lending implications of artificial intelligence (AI) in credit underwriting. Congress and regulatory agencies are likely to press financial services providers to better understand the AI they use and to ensure that its use does not …›
A Nevada resident, Morgan Rockcoons, was sentenced in the U.S. District Court for the Southern District of California to 21 months in prison for wire fraud and unlicensed money transmission. In connection with the sentencing, Rockcoons will also be required to forfeit $80,600 in …›
A wide range of businesses in Southeast Asia from traditional retailers and financial institutions to start-ups are harnessing new technologies and entering into new commercial partnerships to offer financial products and services regionally. MoFo’s Jake Robson, Gordon Milner and Nicholas Davies discuss how companies can …›
In this episode of “Understanding Blockchain,” Morrison & Foerster’s Susan Gault-Brown and Dario de Martino discuss the differences between each blockchain structure. Susan and Dario cover public, private, and permissioned blockchains and how the objectives of a given project might determine which structure is …›
From 14 September 2019, certain electronic and remote payments must be subjected to two-factor, or “strong customer authentication”, under regulatory standards covering the European Economic Area relating to the second EU Payment Services Directive, which took effect in January 2018. Retailers are uncertain whether …›
In the first episode of “Understanding Blockchain,” Morrison & Foerster’s Susan Gault-Brown and Dario de Martino define blockchain for those without a technical background. They break down how it works, what it’s used for, and technologies under the blockchain umbrella, such as cryptography, distributed …›
The Financial Crimes Enforcement Network (“FinCEN”) issued a press release announcing a civil money penalty for violations of the Bank Secrecy Act against Eric Powers, an individual who acted as a peer-to-peer virtual currency exchanger. The enforcement action is the first-ever penalty assessed by …›