Global FinTech & Payments Blog

Tag Archives: Digital Assets

Can Broker-Dealers HODL? SEC and FINRA Say Keep It Noncustodial for Now

The regulators attempt to clarify their position on the possible custody of digital assets by broker-dealers, but questions remain. By Stephen P. Wink, Cameron R. Kates, Shaun Musuka, and Deric Behar The SEC and FINRA recently released a joint staff statement (Joint Statement) addressing the custody of digital asset securities by broker-dealers. For some time, … Continue Reading

US Digital Asset Bills: Will April Legislation Bring May Flowers?

Federal legislators introduce two bills in an attempt to provide the blockchain economy with regulatory certainty. By Stephen P. Wink, Morgan E. Brubaker, Cameron R. Kates, and Shaun Musuka US regulators and federal legislators may be heeding the calls of crypto-enthusiasts for legal clarity regarding the status of digital assets and cryptocurrencies (collectively, Tokens). Two … Continue Reading

Russian Civil Code Recognizes Digital Rights and Smart Contracts

The new legislation may act as a catalyst for a crypto-evolution within Russian law. By Andrew C. Moyle and Elizaveta Bacheyeva On 18 March 2019, the Russian legislator took the first step in introducing the Russian civil law system to the new universe of digital assets. The Russian Civil Code was amended to include concepts … Continue Reading

New SEC Token Guidance: This Is Howey Do It

The SEC provides additional guidance for analyzing whether a digital asset is a security. By Stephen P. Wink, Cameron R. Kates, and Shaun Musuka On April 3, 2019, the U.S. Securities and Exchange Commission’s Strategic Hub for Innovation and Financial Technology (the SEC) released a framework (the Framework) for assessing whether a blockchain-issued token or … Continue Reading
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