Reed Smith Client Alerts

As regulators across the globe turn their attention to distributed ledger technology (DLT), developments in this space have been in the news almost weekly this summer. In the past six weeks alone regulators in the United States, Canada, Singapore and China have paved the way to exercising jurisdiction over initial coin offerings, actively demonstrating a keen interest in the development of DLT. As the UK’s Financial Conduct Authority (FCA) predicted in its April 2017 discussion paper on the topic, it appears that DLT is transitioning from a proof-of-concept phase, to real-world deployment.

Autores: Brett Hillis Kari S. Larsen Michael Selig Alexander Murawa

Type: Client Alerts

As mentioned in our client alert of 2nd March, regulators across the globe are turning their attention to distributed ledger technology (DLT). Developments in the DLT and cryptocurrency space have been in the news almost weekly this summer. In the past six weeks alone: (i) Bitcoin split into two currencies; (ii) the Securities Exchange Commission (SEC), the Canadian Securities Administrators (CSA), and the Monetary Authority of Singapore (MAS) paved the way to exercising jurisdiction over initial coin offerings (ICOs); (iii) a committee led by China’s central bank denounced ICOs as “illegal fundraising activity”; (iv) ISDA released a white paper on distributed technologies’ application to its master agreement; and (v) one of the world’s largest options exchanges announced the offering of cash-settled Bitcoin futures.