March 19, 2018 - Blockchain, Financings, Fintech

Cryptocurrency Compensation: A Primer on Token-Based Awards

These days more and more companies are using virtual tokens to compensate and incentivize founders, directors, employees, and other service providers. For the most part, these token-based awards emulate traditional equity-based awards, but they differ from those awards in some important ways, particularly when it …›

February 23, 2018 - Blockchain, Financings, Fintech

Understanding the CFTC’s Proposed Interpretation of “Actual Delivery” for Cryptocurrency Retail Commodity Transactions

Subject to certain exceptions, the Commodity Exchange Act (CEA) makes it unlawful to enter into a transaction in any commodity with someone who meets the CEA’s definition of a “retail customer.” Nevertheless, many cryptocurrency platforms currently serve retail customers, relying on the CEA’s “actual …›

February 8, 2018 - Blockchain, Fintech, Regulatory

Do You Want to Launch an ICO? Please, Listen to the SEC

The Chairman of the U.S. Securities and Exchange Commission (SEC), Jay Clayton, urged market professionals who in any way participate in initial coin offerings (ICOs) to “act responsibly.” Having once stated that all the ICOs he’s seen have had “a sufficient number of hallmarks of …›

January 23, 2018 - Blockchain, Financings, Fintech

SEC Staff Raises Concerns Related to Cryptocurrency ETFs and Mutual Funds

On January 18, 2018, the Securities and Exchange Commission’s (SEC) Division of Investment Management broke its relative silence regarding the recent growth of cryptocurrencies and cryptocurrency-related products. While signaling that registration of funds intending to invest substantially in cryptocurrency and related products is …›

September 20, 2017 - Blockchain, Financings, Fintech

Why The Delaware Blockchain Initiative Matters To All Dealmakers

Delaware, the state where more than half of all U.S. publicly traded companies are incorporated, has taken steps to facilitate a favorable legal and regulatory environment for the development of blockchain technology. The state’s initiatives are designed to, among other things, enable companies to precisely …›

July 20, 2017 - Fintech

Acting Comptroller Endorses Fintech Charters

Acting Comptroller of the Currency Keith Noreika has expressed support for efforts by the Office of the Comptroller of the Currency (OCC) to establish national bank charters for financial technology companies. Noreika detailed his support for the efforts in remarks he made at …›

July 11, 2017 - Fintech

OCC Releases Semiannual Risk Perspective: Fintech is Risky?

Federal banking system risks remain a “top concern” for OCC. According to its Semiannual Risk Perspective report issued July 7, 2017, national banks and federal savings associations face strategic, credit, operational, and compliance risks. As fintech companies have begun to offer traditional bank …›