Learn about crypto & blockchain at ABA Techshow

January 30, 2019

Join us at the ABA Techshow in Chicago – February 27 – March 2, 2019. The company will be warm and welcoming, whatever the weather. If you are confused about blockchain and cryptocurrency, our panel will help you make sense of it all. This is an area that all legal professionals need to understand. Here is a link to a primer on cryptocurrency and digital coins that I wrote for the ABA Law Practice Management Magazine: https://www.americanbar.org/groups/law_practice/publications/law_practice_magazine/2019/january-february/JF2019Braganca/ There is so much more at Techshow. Read about it here and then sign up. http://www.abajournal.com/news/article/techshow-to-deal-with-future-proofing-the-practice-of-law

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Court tells SEC, this is not a security

January 25, 2019

The 5th Circuit Court of Appeals reversed a district court’s order granting the SEC summary judgment based upon a finding that certain oil and gas interests were securities. The 5th Circuit provides a detailed analysis of whether the partnership interests satisfy the Howey test. This is well covered in Thomas Gorman’s blog SEC Actions @secactions and should be of interest to folks in the cryptocurrency and blockchain space.

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Truth without proof program description

Truth without Proof? Blockchain on Trial

November 30, 2018

You have irrefutable proof of a blockchain transfer of bitcoin. But how do you get that blockchain transaction into evidence?  It is not as easy as you think. The Chicago Bar Association Financial and Emerging Technologies Committee, FinTEx, ChicagoBlockchainProject, ChicagoBlockchain Center and the Loyola University School of Law present this live demonstration of how legal practitioners can navigate the rules of evidence with respect to blockchain ledger entries and crypto-assets.

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Insurance coverage for SEC investigation of your ICO?

November 5, 2018

A question that businesses contemplating an initial coin offering (ICO) should consider is whether they have insurance coverage for an SEC or other government investigation. This is an excellent analysis of the question on the D&O Diary. Guest Post: ICO-Related Claims and Insurance Coverage: Questions You Should be Asking

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digital coins

Digital Coins, Tokens, Cryptocurrencies for Beginners

September 29, 2018

Digital Coins Digital coins, virtual coins, tokens, or cryptocurrencies are bits of computer code. What makes this computer code special is that it is created on something called a “blockchain.” Blockchain technology allows people to engage in financial transactions directly with each other, without a bank or other financial intermediary. Transactions taking place on a blockchain are protected through cryptography and recorded on thousands of identical computer ledgers all over the world. There are some great introductions to blockchain technology and bitcoin that you can watch on YouTube. Here are a few I have blogged about previously. http://bit.ly/2xKWjWS http://bit.ly/2Iowr70  

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When is a cryptocurrency a security – remarks of SEC Chairman

June 10, 2018

When is a cryptocurrency a security? When is a cryptocurrency a security? The cryptocurrency industry has been looking for clear guidance from regulators for some time. Recently, SEC Chairman Jay Clayton in an interview with CNBC has clarified this question.

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FTC shuts down bitcoin chain referral scheme

March 17, 2018

FTC shuts down bitcoin chain referral scheme The FTC shut down a fraudulent scheme that promised big profits to those who sent bitcoin and got others to send bitcoin. This is called a chain referral scheme — basically a pyramid scheme. Here is the FTC’s recent warning. The prospect of big profits is just an illusion.  “Ever get a chain letter in the mail or online? Then you know the drill — you send money to a person at the top of the list, then take their name off and add yours to the bottom before sending the letter to more people. If the letters keep going, you’re supposed to make money as your name moves up the list. In fact, most people are guaranteed to lose money. “Chain letters have been around for decades. Today’s twist: online chain referral scheme s involving cryptocurrencies like bitcoin and Litecoin.

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John Oliver on bitcoin

March 12, 2018

Who does it better? The good, the bad, the goofy. Bitcoin and blockchain technology may turn out to be transformational — just like technology behind online shopping. We can now buy books, toilet paper, and cough drops on Amazon.com. But, those investors in Pets.com and countless other dot com flame-outs lost a ton of money. As long as folks keep pouring money into things like PonziCoin, DogeCoin, and DeepOnion, a lot of folks are going to lose a lot of money.

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I’ll have some Ether with my latte – will Starbucks put tokens on the menu?

March 2, 2018

Business Insider reports that Starbucks could dive into the cryptocurrency space. Another significant challenge to the Wall Street model for raising capital? Could it be as easy as ordering a latte? Business Insider posted an interview with Patrick Byrne, CEO of Overstock.com and crypto/blockchain enthusiast. Overstock reports that it passed the $100 million mark in its tZERO ICO. While this is basically a promotional piece for tZERO, it is interesting nonetheless. Note how many times Bryne points out that tZERO and other tokens are speculative investments. 

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