“Why Blockchain Custody Is So Difficult—Paths Forward?” was recently posted on Perkins Coie’s Asset Management ADVocate blog. The blog post completes the analysis of the difficult question of how to comply with regulations requiring independent custody of cryptocurrency. This series focuses on the custody requirements for registered investment companies in an attempt to
From Uncertainty toward Regulatory Clarity: Senior SEC Officials Provide Regulatory Clarity for Digital Assets
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On June 14, 2018, the Director of the Division of Corporation Finance of the Securities and Exchange Commission delivered a speech outlining the framework used by the SEC Staff in…
On July 25, 2017, the Securities and Exchange Commission (“SEC”) released groundbreaking materials relating to blockchain tokens. These materials provide significant and welcome insight to the SEC’s and its staff’s thinking in this area, although they leave a number of important questions unanswered.
The SEC released a detailed investigative report under Section 21(a)…
Read our new article in The Investment Lawyer to learn more about the legal and regulatory implications of emerging technologies, including blockchain and digital ledger technology, investing in fintech companies, robo-advisers and algorithms, and cybersecurity.
The Securities and Exchange Commission announced today that it would deny a proposed rule change that would have permitted the first exchange traded fund to track digital currency. If granted it would have permitted the Bats BZX Exchange, Inc. (“Exchange”) to list and trade shares issued by the Winklevoss Bitcoin Trust on the Exchange. The …
The European Union has recently demonstrated additional interest in the potential uses of blockchain technology for financial services outside of virtual currencies. On April 22, 2015, the European Securities and Markets Authority (ESMA) issued a “Call for Evidence” (the “Call”) from stakeholders to provide information related to uses of blockchain technology related to securities and investment products, including investments in virtual currencies.
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