The pace of enforcement actions initiated by the SEC against cryptocurrency firms reached unprecedented levels last week with the filing of two significant lawsuits against Binance and Coinbase. In the case of Binance, the charges are more extensive, encompassing allegations of fund commingling and an artificial separation between Binance.com and Binance.us.
Read MoreLawmakers in the European Union have approved two new crypto-related laws. The Markets in Crypto-Assets (MiCA) law requires licensing for crypto wallet providers and exchanges operating in the EU, making it the first major jurisdiction in the world to implement such a comprehensive crypto law. Another law, the Transfer of Funds regulation, mandates crypto operators to identify their customers to prevent money laundering. The votes in favor of these laws were overwhelming, with only a few lawmakers abstaining. The new laws also require issuers of stablecoins to hold adequate reserves.
Read MoreHermès is famous for their Birkin handbag, which is expensive and serves as a symbol of wealth. They registered the trademark BIRKIN® with the US Trademark Office, but it only covered tangible handbags and not digital representations. In 2021, an artist named Mason Rothschild created MetaBirkin NFTs, which are digital representations of a unique, fuzzy Birkin handbag. He sold over a million dollars worth of them, but Hermès sued him for trademark infringement, dilution, and cybersquatting. Hermès argued that the MetaBirkin name trades on the goodwill of the Birkin brand and that consumers may be confused into thinking there is an endorsement or connection with Hermès.
Read MoreSix points to Consider before Investing & Trading in Cryptocurrency
Throughout the years, SEC Commissioner Hester Pierce earned the nickname “crypto mom,” as one of the staunchest supporters of digital assets. Her recent statements at Duke Conference are particularly meaningful, especially considering the frosty 2022 from which the crypto industry is slowly coming out.
Read MoreAs widely known, Non-Fungible Tokens (NFTs) are digital assets that register an immutable transaction on the blockchain. However, often it is not very clear what legal rights the purchaser obtains with the digital asset embedded in the NFT.
Read MoreA crucial question that often arises in conversations with our clients is whether a digital asset that is being offered or planned to be launched soon will trigger compliance with security laws. The answer to the question typically is based on the analysis as to whether the client will issue a security token or a utility token.
Read MoreI am very happy to announce that Cea Legal is launching today an innovative NFT rewards program for its clients. Each client - whether a business or an individual - that spends in a one-time transaction at least $2,500, $5,000, $7,500 or $10,000 in legal fees will receive a Cea Legal NFT, minted on Cea Legal's website and hosted on the Ethereum blockchain.
Read MoreOne of the most attractive features of Non-Fungible Tokens (NFTs) is the opening of new revenue streams for artists and creators, thanks to the rolling royalty structure enabled by the NFT technology.
Read MoreThe corporate world as we have known for the past several years is about to be shaken by the Web3, which is the latest Internet development empowering its users to transact through decentralized blockchain platforms without the need to rely on Web2 giants (such as Facebook, Youtube, and the likes).
Read MoreIn “simple” terms, the metaverse is a new environment characterized by the interconnection of the digital and the physical worlds. The results of this union are multiple and fascinating thanks to the blockchain technology that allows users to connect and transact in decentralized environments – which, as a whole, are now known as “Web 3”.
Read MoreMany still think that Non-Fungible Tokens (NFTs) do not have any practical purpose and are only used as a beauty exercise by trust fund kids and money launderers to purchase digital art or other collectibles. Given the novelty and complexity of the subject, this is an understandable misconception.
Read MoreDecentralized finance (DeFi) is a term used to encompass a growing number of financial services provided on blockchain platforms (mainly Ethereum). The DeFi industry has been becoming increasingly attractive thanks to its appealing premise allowing transactions to be carried out between peers without financial intermediaries, such as banks. Instead, the transacting parties “trust” smart contracts, which are self-executing software codes performed on a public blockchain, and as such fully visible by anyone and transparent.
Read MoreWhat Is An NFT? How Do NFTs Work?
Binance, the largest cryptocurrency exchange in the world, advertised that it would release its own Non-Fungible Token (NFT) market on June 24, following the steps of other major players in the industry, such as Gemini.
These digital currencies present a new set of legal questions, though, because no centralized government entity controls them. Many countries have introduced detailed laws regulating the exchange of digital currencies, and members of industries that use blockchain technology warn that if the United States does not enact its own regulations for digital currencies, it will lose out on a valuable boost to its economy, as blockchain businesses will choose to set up shop in other countries.
Read MoreMost people who made their fortune by investing in commercial real estate already had a considerable fortune to start with, whether in the form of family wealth or extraordinarily good luck. Investing in a multifamily dwelling or a shopping center requires more capital than most of us have.
Read MoreAlthough it first entered the public consciousness in this context, blockchain technology is not just for cryptocurrencies. It is also applicable to industries that have been around for centuries, such as banking, real estate investing, and art collecting.
Read MoreOver the last few years, crypto assets have continued to grow in popularity amongst investors. One of the biggest obstacles faced by digital assets, however, is the difficulty that both large and small cryptocurrency businesses have had in securing banking services.
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