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About this Blog

Our Snell & Wilmer team posts updates and news about the opportunities and challenges companies face regarding blockchain technology and digital currencies.

10 Key Points of the Lummis-Gillibrand Crypto Bill

On June 7, Senator Cynthia Lummis (R-WY) and Senator Kirsten Gillibrand (D-NY) unveiled the long-awaited 69-page draft of the Lummis-Gillibrand Responsible Financial Innovation Act (“Act”). The Act is meant to create a regulatory framework for digital assets, pioneer legal reform and regulation across various regulatory entities, and update current laws with language regarding digital assets. All cryptocurrency […]

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To the Moon After All? DOL Targets Cryptocurrency in Retirement Plans

In Compliance Assistance Release No. 2022-01 (the “Release”), the Department of Labor (the “Department”) signaled its intention to scrutinize inclusion of cryptocurrency assets and crypto-derivative products as investments in ERISA-covered retirement plans.  In particular, the Release articulates the Department’s view that offering exposure to this asset class – either in a plan’s investment lineup or via a […]

| 2 min read

FBI Seizes $4.275 Billion in Stolen Cryptocurrency

By: Charles Gianelloni, Las Vegas Partner and Eddie Curry, Las Vegas Diversity Writing Intern (Curry is not admitted to practice law) On February 8, 2022, two individuals were arrested for conspiracy to launder cryptocurrency stolen during the 2016 hack of Bitfinex, a Hong Kong-based virtual currency exchange. According to court documents, Ilya Lichtenstein, 34, and […]

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SEC Forms New ‘FinHub’ Office for Public Engagement in FinTech

The U.S. Securities and Exchange Commission recently announced the launch of a new office called the “Strategic Hub for Innovation and Financial Technology” (“FinHub”). The SEC aims to provide resources to effectively handle public engagement relating to FinTech. Previously, several working groups at the SEC focused on FinTech matters. The SEC hopes that the FinHub […]

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Former Associate

Federal Judge Says CFTC Can Regulate Virtual Currencies

On March 6, a Federal District Court in the Eastern District of New York entered a 79-page order that provides the Commodity Futures Trading Commission (CFTC) the power to pursue virtual currency fraudsters.  Judge Weinstein held that the CFTC has standing to seek relief related to misleading advice, fraudulent schemes, and misappropriation of virtual currencies, […]

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Do write a white paper. Don’t write a prospectus.

Initial coin offerings, or ICOs, represent a new funding mechanism for companies building blockchain-based business models. The company’s “white paper” has become the go-to document for evaluating these new blockchain-based business models. Sometimes, the white paper is a deeply technical document. Many times, however, it reads more like a marketing brochure to hype a future ICO, and […]

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Welcome to our blog!

Welcome to “The Blockchain Law Blog”, a new blog created by Snell & Wilmer’s Blockchain and Digital Currency practitioners. We’re excited to share our thoughts and insights with you about this rapidly-evolving practice area. Our goal is to provide timely, relevant and helpful updates and analysis on legal developments in the blockchain and digital currency […]

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