Laurie Rosini, an attorney in the Technology Transactions & Privacy practice, focuses her practice on electronic financial services, blockchain technology and digital currencies, and privacy and data security. Laurie has experience reviewing clients’ products and services to ensure sound privacy policies, data security practices and transaction processing. Laurie also counsels clients regarding the regulatory compliance issues facing electronic financial services businesses and virtual currency firms.

We are pleased to release an updated edition of our smart contracts white paper, originally published in May 2017.   The updated white paper surveys the current academic and industry landscape related to smart contracts, and discusses the key legal issues surrounding smart contract applications. Authors of the white paper are Dax Hansen, Partner and

On April 18 the governor of Washington signed into law amendments proposed by the Washington Department of Financial Institutions (“DFI”) in December of last year, to the state’s Uniform Money Services Act, including provisions specific to digital currency.  The changes take effect on July 23, 2017.

Aligning with Washington’s Interim Regulatory Guidance on Virtual Currency

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of publicly-reported news that may be of particular interest.

U.S. Developments

Arizona Bill Seeks to Recognize Validity of Smart Contracts and Blockchain Records

A bill introduced in Arizona seeks to legally recognize smart contracts, digital signatures, and other blockchain records.  Arizona House Bill 2417 proposes to define blockchain technology as “distributed ledger technology that uses a distributed, decentralized, shared and replicated ledger, which may be public or private, permissioned or permissionless, or driven by tokenized crypto economics or tokenless.  The data on the ledger is protected with cryptography, is immutable and auditable and provides an uncensored truth.”  The bill is sponsored by Rep. Jeff Weninger.Continue Reading Blockchain Week in Review – February 10, 2017

The Washington Department of Financial Institutions (“DFI”) introduced a bill last month amending portions of the Washington Uniform Money Services Act (“UMSA”). The proposal includes provisions specific to digital currencies, providing clarity to an industry struggling to muddle its way through unclear and disparate regulations across 50 states. Washington has been a leader in providing

Last week, California legislators introduced an amended AB 1326, which substantially changed California’s proposed bill addressing procedures and regulations of digital currency businesses. After a second reading in the California Senate, this bill has been re-referred to the Committee on Banking and Financial Institutions for additional comment. See California Legislative Status on AB-1326. Industry

This week, at the tail-end of the legislative session, California legislators have introduced a bill (amended from a bill originally introduced in April 2015) that statutorily addresses the increasingly topical question of how to regulate the emerging crypto-currency market.

The amendment, introduced on August 8, 2016, is a vast departure from the earlier iterations of

Despite much hype over the ruling by a Florida court that bitcoin is not money, the likeliest outcome of Monday’s decision will be legislative amendments to Florida’s money transmitter laws, rather than the sweeping impact envisioned by some.

Florida state Judge Teresa Pooler dismissed charges on Monday against a man accused of  money laundering and