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Blockchain & The Law Roundup

Here’s the latest end of week roundup on  blockchain and the law.

 

Title: White Shoe to Wild West: Lawyers to Launch Blockchain-Only Law Firm

Author: Coindesk

Date: 11 May 2018

URL: https://www.coindesk.com/white-shoe-wild-west-lawyers-launch-blockchain-law-firm/

Extract: 

Blockchain technology is shaking up the legal industry.

At least that’s according to prominent blockchain industry attorneys, Angela Angelovska-Wilson and Lewis Cohen, who revealed exclusively to CoinDesk Friday that they have started their own law practice focused on the nascent industry.

Called DLx Law LLP, the firm opened its doors this month, with offices in New York and Washington, D.C. Its founders, Angelovska-Wilson, previously general counsel and chief compliance officer at enterprise blockchain startup Digital Asset, and Cohen, a seasoned securities lawyer, aim to run the firm differently than the typical law practice, in a way that aligns better with the culture of the blockchain space.

For example, they eschew the term “partner,” because in their view it fosters a sense of possession over clients or cases. Instead, lawyers will assume responsibilities based on their skills, not seniority, Cohen told CoinDesk.

 More concretely, and like a few other law firms with cryptocurrency clients, DLx accepts payment in bitcoin or ether. And down the road, it would like to rethink the age-old practice of charging by the hour and experiment with smart contracts and other unorthodox ways of being paid for legal services.

 

Title: Athena Blockchain Brings Advisory Services To The Blockchain: New entity becomes investment advisory firm of choice for financing deals with tokenized securities

Author:  PR newswire

Date: 10 May 2018

URL: https://www.prnewswire.com/news-releases/athena-blockchain-brings-advisory-services-to-the-blockchain-300646568.html

Extract: 

The leaders of Athena Blockchain, an investment advisory firm, announced today the launch of a new markets advisory business focused on tokenized securities.

With offices in Chicago, Santa Monica, and Miami, Athena Blockchain provides advisory services to issuers, sponsors, and promoters of tokenized securities by leveraging legal, compliance, technical, and financial experience to structure offerings and provide an understanding of capital markets.

“The tokenization of securities using DLT increases operational focus and reduces capital raising expenses for small issuers, frees securities from the data silos in which they reside, and democratizes access to capital markets, said Founder & CEO Eric Gravengaard. “Just as we have witnessed the power of digital currency to open new avenues for commerce, we now see smart contracts, Ethereum, and tokens creating untapped opportunities for investors, new ventures, and traditional financial institutions. Athena Blockchain’s team of experienced finance professionals and principals understand the cryptocurrency industry and how they will democratize early stage finance, disintermediate asset custodianship, and transform stagnant markets.”

 

Title: Blockchain Firm Aeternity Launches “House of Blockchain” In Liechtenstein

Author: Block Tribune.com

Date: 10 May 2018

URL:  http://blocktribune.com/blockchain-firm-aeternity-launches-house-of-blockchain-in-liechtenstein/

Extract: 

Blockchain 3.0 platform Aeternity and legal firm Nagele Attorneys at Law have officialy launched the House of Blockchain (HoB) in Vaduz, Liechtenstein.

The House of Blockchain will support teams and startups developing decentralized applications with guidance and support from industry experts. Currently, ten projects have joined the House of Blockchain Coworking Space, which is part of the HoB initiative. These include equity crowdfunding platform Chainium, Light 47, SmartToken, Upvest, Weeve, TV-TWO and DORIUM.

During the House of Blockchain opening ceremony on Monday, Adrian Hasler, Prime Minister of Liechtenstein, said that he was pleased to see the blockchain ecosystem thriving in Liechtenstein, a country that supports the growth and innovative business models quickly emerging from the technology. He acknowledged that with flourishing innovation comes a need for strong support from all regulatory bodies and in Liechtenstein, the government firmly believes in the potential and the many use cases that blockchain technology brings.

 

Title:  Legal Issues With Blockchain-Based Crypto Games and Collectibles

Author: National Law Review

Date: 9 May 2018

URL: https://www.natlawreview.com/article/legal-issues-blockchain-based-crypto-games-and-collectibles

Extract: 

The use of blockchain technology for crypto games, such as CryptoKitties, and other token-based digital collectibles is on the rise. Also growing is the number of tokenized-assets marketplaces such as Rarebits and cryptocurrency designed specifically for gaming, such as Enjin Coin. These innovative platforms are leveraging the power of blockchain technology as applied to games and other interactive entertainment.

As is always the case with cutting edge technology and business models, a number of potential legal issues may be lurking of which many companies may not be aware. In the crypto world, most of the regulatory focus is on initial coin offerings (ICOs), as over $6.6 in token generating events already have occurred in 2018. However, many of the potential regulatory issues with ICOs and other legal issues could apply to blockchain-based crypto games and collectibles. Little attention has been paid to these issues.

For example, in some circumstances, crypto game tokens could be securities and token marketplaces could be securities exchanges. Additionally, if not structured properly, these offerings could constitute gambling and/or require money transmitter licenses.

 

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