Privacy and Security

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Weekly Focus:

  • Jay Clayton to step down as Chairman of the Securities and Exchange Commission
  • Brian Brooks nominated to five-year term as Comptroller of Currency
  • Origin Protocol attacked, resulting in estimated loss of $7 million
  • SEC issues no-action letter for IMVU
  • Mitsubishi UFJ Financial Group plans launch of blockchain payments network in 2021
  • Texas State Securities Board files emergency cease-and-desist orders against ten digital asset investment platforms

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Continue Reading Blockchain Week in Review: Week of November 20, 2020

The California Consumer Privacy Act (“CCPA”) is a sweeping new law that introduces a host of privacy rights for California consumers, as well as creates a series of robust obligations for certain businesses that collect personal information about those consumers.

Join us for CCPA Week: A series of webinars hosted by Perkins Coie’s Privacy…

Cryptocurrency owners must face death—be it their own, or that of anyone else with custody of the owner’s cryptocurrency or other digital assets. We received a stark reminder of this when the Canadian exchange QuadrigaCX recently filed court papers[1] indicating it may have lost access to nearly $200 million USD of its customers’ Bitcoin, Ether and other cryptocurrencies. The exchange claimed to have used cold wallets to store its portion of customers’ vital cryptocurrency offline. After the owner of the exchange died, however, the exchange has apparently struggled to access this cryptocurrency and related fiat deposits, and customers may forever lose their assets housed on the exchange.[2]…
Continue Reading Dying and Private Keys

The French data protection authority, Commission Nationale de l’Informatique et des Libertés (CNIL), became the first European data protection authority to issue written guidance on the intersection of the use of blockchain technology and the General Data Protection Regulation (GDPR). The CNIL guidance provides welcome clarification on how to tackle some of the inherent tensions between GDPR and blockchain, although the CNIL left open certain important issues that will require deeper analysis and explanation in the future.…
Continue Reading French Data Protection Authority Issues Guidance on Application of Blockchain to the GDPR

On November 19, the New Jersey Attorney General entered into a $1,000,000 settlement with E-Sports, a website that had allegedly deployed malicious software onto its own users’ computers, creating a virtual network to mine bitcoins. The AG asserted claims for deceptive and unconscionable commercial practices under the New Jersey Consumer Fraud Act, N.J. Stat. §…