August 24, 2023
Understanding AI Regulation in the EU
The European Commission has pioneered a comprehensive approach to AI, championing a vision where technology aligns seamlessly with European values and fundamental rights. Human-Centric AI: The primary objective of the EU's framework is clear: AI should resonate with a human-centric ethos. From ensuring transparent algorithms that demystify AI logic, to implementing risk-based classifications that bring […]
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August 17, 2023
The Legal Landscape in 2123: Navigating Tomorrow's Jurisprudence
On the cusp of the 22nd century, we're invited to cast our gaze towards a legal future shaped by groundbreaking technology, societal evolution, and intricate global bonds. Here's how the law's canvas might be painted in the next century. Technology's Transformative Touch The application of AI in the legal field is poised to go beyond […]
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August 10, 2023
Strengthening Transatlantic Ties: Highlights from the EU-US Trade and Technology Council Meeting in Luleå
The recent convening of the EU-US Trade and Technology Council (TTC) in Luleå, Sweden, marks a pivotal moment in the strengthening relationship between these two global powerhouses. Their discussions covered a breadth of topics, from technological advancements to shared concerns about global security. Let's delve into the significant outcomes and what they mean for the […]
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August 3, 2023
European Commission Adopts the New EU-U.S. Data Privacy Framework
The European Commission has given its seal of approval to the EU-U.S. Data Privacy Framework, marking a significant stride towards fostering safe transatlantic data flows and offering European citizens enhanced protection for their personal data. Key Highlights Assured Level of Protection: The Commission's adequacy decision confirms that the U.S. provides a comparable level of protection […]
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July 21, 2023
The Intersection of Blockchain and Law: A New Frontier
As we journey deeper into the age of digital transformation, our legal systems must evolve in tandem. One technological marvel driving this evolution is blockchain. A truly revolutionary innovation, blockchain is reshaping numerous sectors, including the legal profession, and it's opening new horizons that we, as legal professionals, must prepare ourselves to explore. Blockchain technology […]
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July 17, 2023
Cybersecurity Threats Soar: A Call to Action for Every Industry
In today's digital world, cybersecurity has emerged as a universal concern that no industry can afford to overlook, including the legal sector. Recent research by Check Point Software reveals a dramatic rise in global cyberattacks, serving as an urgent call to action for all industries to fortify their digital frontiers. The escalating cybersecurity threats are […]
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July 12, 2023
The Legal Implications of Decentralized Finance: An Evolving Landscape
The accelerating growth of technology has introduced us to a radical shift in the world of finance - Decentralized Finance or DeFi. Representing the confluence of blockchain, digital assets, and traditional financial services, DeFi is not only transforming the financial industry but is also democratizing it. However, as it propels towards mainstream acceptance, DeFi brings […]
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July 5, 2023
UAE Introduces Landmark Corporate Tax Reforms - Profound Implications for Businesses
Major Overhaul in UAE Corporate Tax Regulations - New 9% Tax Rate Imposed In a pivotal shift from its traditional tax-free business environment, the United Arab Emirates (UAE) has introduced substantial changes to its corporate tax laws. The updated regulations establish a 9% tax rate on corporate profits above AED 375,000, and a 0% tax […]
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June 22, 2023
Belize FSC Imposes New Restrictions on Virtual Asset Activities
Companies Involved in Virtual Asset Activities Required to Notify FSC and Cease Operations The Belize Financial Services Commission (FSC) has enacted a public notice, FSC/2/PN/012, titled "Restriction on Virtual Assets Activities" on May 25, 2023. The official document provides crucial information about the country's evolving regulatory landscape with respect to virtual assets. You can read […]
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June 14, 2023
Comment on the Law Commission of England and Wales’ Consultation
England and Wales Concludes Historic Consultation on Legal Reform for DAOs as Part of Crypto-Assets and DeFi Regulation The Law Commission of England and Wales undertook a thorough public consultation on the legal status of Decentralised Autonomous Organisations (DAOs) as part of ongoing legal reform on crypto-assets and decentralised finance ('DeFi'). The consultation took place […]
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June 2, 2023
Crypto-Influencers
SEC Charges Kim Kardashian Amid Findings that Crypto-Influencer Investment Advice Generally Leads to Unprofitable Returns The Securities and Exchange Commission (SEC) has announced charges against Kim Kardashian for promoting a crypto asset security offered by EthereumMax (EMAX) on social media and failing to disclose her financial interests in promoting the coin. The Kardashian case highlights […]
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May 26, 2023
Digital Currency Dilemma: Central Banks Clash with Public Opinion
BIS Faces Criticism as it Launches 'Innovation Hubs' Amid Growing Concerns Over Central Bank Digital Currencies The Bank for International Settlements (BIS) has launched "innovation hubs" to explore initiatives in the crypto and cyber worlds, including helping to create central bank digital currency (CBDC) projects across the globe. The initiative is part of an effort […]
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May 19, 2023
IOSCO Urges Global Regulators to Act Swiftly in Crypto Markets
IOSCO Urges Global Regulators to Step Up Crypto Oversight: Reveals Comprehensive Plan for Stricter Standards Amidst Rising Industry Crises IOSCO, the global securities watchdog, has called on regulators worldwide to take faster and bolder action in regulating cryptocurrency markets, and has recommended the breakup of companies with persistent conflicts of interest. In response to a […]
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May 12, 2023
Klima Foundation - Purpose
Klima Foundation's Dual Mission: Championing Environmental Conservation and Promoting Blockchain Technology The Klima Foundation serves a very clear purpose. It is meant to protect our environment, especially by mitigating the impacts of climate change and reducing the speed and rate of change. Sustainable and responsible behaviour towards people, the whole community and the environment is […]
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May 5, 2023
Latest news from the FCA, in a crypto outlook
FCA's 2023/24 Business Plan Outlines Strategy: Prioritizing Consumer Protection and Innovations in Financial Services On April 5, 2023, the UK's Financial Conduct Authority (FCA) published its Business Plan for the year 2023/24. The FCA expects a highly uncertain economic and geopolitical environment over the next 12 months, which includes a heightened risk of firm failure. […]
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April 21, 2023
Cryptocurrencies and Securities Law: Court Ruling Reignites Debate over Classification
Shifting Landscapes: How Evolution of Digital Assets Challenges Traditional Howey Analysis In November 2021, a federal jury in the District of Connecticut ruled on the following issue: whether or not cryptocurrencies constitute "securities" under securities law. The plaintiffs in Audet v. Fraser had filed five claims under state and federal securities laws against the director […]
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April 14, 2023
MiCA - Markets in Crypto Assets
ECB Official Warns of Regulatory Gaps in EU's Crypto Oversight: Binance and FTX May Slip Through Cracks An ECB official, Elizabeth McCaul, has warned that incoming regulations for crypto assets in the European Union (EU) will allow some of the industry's largest players to escape stricter supervision and require an overhaul. In a blog post, […]
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April 7, 2023
Staking services are not securities
Crypto Staking Surge: How DeFi Protocols like OHM and Klima Harness the Power of Proof of Stake and Foster User Participation The adoption of proof of stake over proof of work protocol has introduced the concept of staking in the cryptocurrency world. Staking allows anyone to contribute to the security of a blockchain and to […]
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March 24, 2023
The Financialization of Crypto: Lessons from FTX and the Crypto Winter of 2022-2023
Crypto Ecosystem in Crisis: Examining the 2022 Market Crash and FTX Failure The article by professors Arner, Zetzsche, Buckley and Kirkwood reminds us how, in 2022, the crypto ecosystem experienced a significant decline in market value, losing approximately $2 trillion even before the collapse of FTX Group. The failure of FTX, one of the largest […]
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March 17, 2023
The OECD's Crypto-Asset Reporting Framework (CARF)
OECD Introduces New Reporting Requirements for Crypto-Assets and Electronic Money On Oct. 10, 2022, in Washington, the Organization for Economic Co-operation and Development (OECD) released its final report outlining new reporting requirements for crypto-assets and electronic money, published along with revisions to the current Common Reporting Standard (documents are available at https://www.oecd.org/tax/exchange-of-tax-information/crypto-asset-reporting-framework-and-amendments-to-the-common-reporting-standard.pdf. For more questions/answers […]
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March 10, 2023
What changed for crypto after the SVB collapse?
First Citizens Bank Acquires Silicon Valley Bank Excluding Cryptocurrencies: Regulatory Hostility Intensifies First Citizens Bank has acquired most of Silicon Valley Bank, but it made sure that its purchase agreement excluded cryptocurrencies and loans backed by crypto. This aversion to digital assets is not unique to First Citizens, as New York Community Bank refused to […]
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