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Blockchain Roundup: 4 October 2017

Only midweek and already a slew of information. Good to see some attempt at ICO regulation and law firms actually advertising the fact they are hiring good cybersecurity lawyers.


Title: The people behind the hype-filled ICO craze are trying to regulate themselves

Author: CNBC

Date: 4 October 2017


Extract: The digital coin industry is increasingly trying to find ways to curry favor with regulators on fundraisers known as initial coin offerings. “We are starting to see the self-regulation of this market, I think the taming of the Wild West,” said Marco Santori, head of fintech practice at Cooley and an advisor to the International Monetary Fund, told CNBC. Along with Juan Benet and Jesse Clayburgh of blockchain developer Protocol Labs, Santori released a whitepaper on Monday that lays out how certain initial coin offerings can avoid falling the designation of “security.” Even in Switzerland, where financial authorities approved a private bank for bitcoin asset management, the Crypto Valley Association distributed Tuesday a paper by local lawyers to define three categories of tokens and four kinds of associated risks.


Title: Leading Privacy and Cybersecurity Lawyer Maarten Stassen Joins Crowell & Moring’s Brussels Office:New senior counsel will advise clients on privacy and data-protection law, including GDPR

Author: Cromwell & Moring Press Release

Date: 3 October 2017


Extract: Crowell & Moring is pleased to announce the arrival of Maarten Stassen to its Brussels office as a senior counsel in the firm’s Privacy and Cybersecurity Group. With nearly 15 years of experience, Stassen will advise private organizations and public-sector entities on privacy and data protection law, with a focus on corporate compliance and governance surrounding the internet of things (IoT), distributed ledger and blockchain technology, as well as health information technology. He will also counsel clients on the European General Data Protection Regulation (GDPR), which will apply in May 2018 and affect how companies do business across Europe.


Title:  Leading Blockchain Law Firm MME Introduces New Legal Framework to Shape the Future of Tokenized AssetsCrypto Valley Association member introduces concept of Blockchain Crypto Property (BCP) to provide classification and risk-assessment of crypto assets

Author: The

Date: 3 October 2017


Extract:  The Crypto Valley Association (CVA), a Swiss-based not-for-profit association supporting the development of Blockchain and cryptographic related technologies and businesses, today distributed a paper on behalf of MME and Blockhaus, proposing a new method for token classification. Both MME, the leading Swiss consultancy firm for law, tax and compliance in Blockchain applications and Blockhaus, a developer of decentralized investment banking platform applications for tokenized ecosystems, are active members of the CVA. The framework was developed specifically for utilization for regulatory and critical risk-assessment purposes. The paper, entitled “Conceptual Framework for Legal & Risk Assessment of Blockchain Crypto Property,” introduces the concept of Blockchain Crypto Property or BCP.


Title: Why there is no “one-size-fits-all” regulation for ICOs

Author:  Betakit – Amy Ter Haar

Date: 3 October 2017


Extract: Lee Schneider and Erik Syvertsen are active legal forces in the New York legal community, where they are focused on the blockchain and cryptocurrency space. They can often be found speaking at events, running podcasts, and providing their expertise on critical and emerging issues in blockchain law around the globe.

As the world reacts to the uncertainty of cryptocurrency offerings such as initial coin offerings, initial token offerings, and sales of securities of cryptocurrency investment funds, many startups in the community are having discussions on what the future of innovation in the cryptocurrency space looks like.

Schneider and Syvertsen will be sharing their thoughts at a program entitled “Blockchains, Smart Contracts and the Law” on November 15, during a one-day program where 17 top legal, tech and financial industry experts from the US and Canada will discuss the biggest legal issues facing the blockchain.


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