This presentation covers the regulation of cryptocurrencies and ICOs under EU Law. An overview is given of EU regulation of digital assets. The legal research covers multiple aspects of ‘crypto regulation’ within the EU, as well as in its Member States. For each jurisdiction, an inquiry is made into the regulation of digital currencies, and the regulation of ICOs. Finally, the most crypto-friendly jurisdictions are examined in more detail.
Author: Thijs Maas
U.S. Regulators want to stop Facebook’s Libra. Here’s why.
If you haven’t heard about Libra yet, it’s about time. Facebook’s recently unveiled coin, which is held stable by backing it with other currencies and debt obligations, might cause significant changes in the financial system as we know it. The U.S. House of Representatives called for a halt of Libra’s development in an open letter to Facebook. Are U.S. regulators overreaching? Or is their approach warranted? Read it here.
The Case for Hybrid Tokens
I see many articles proclaiming the death of the Initial Coin Offering. Indeed, volumes of ICO funding have indeed gone down drastically. At the same time, many praise the Security Token Offering (STO) as the ‘next big thing’. The new hype, that will catch people off-guard. However, many misunderstand the differences…
SEC Doubles Down On Hinman Test: A Legal Analysis
SEC Chairman Jay Clayton has confirmed that the SEC believes that if a token is ‘sufficiently decentralized’, it can no longer be seen as a security. This controversial ‘Hinman Test’ is subject to great debate. In this article, I explain how such a test might be approached. Emphasis is given to the influence of the issuer on the governance of a blockchain protocol.
The SEC is wrong! Ethereum is a Security.
In a speech in August, the SEC stated that Ethereum is no longer a security, due to its decentralization. I believe they are wrong. In this legal analysis, I explain why I believe that the blockchain-based cryptocurrency is still a security under US securities law and jurisprudence, such as the Howey-test.
United States Is Cracking Down On ICO Fraud — Operation Cryptosweep Has Begun
On Monday, North American Securities Administrators Association (NASAA) announced Operation Cryptosweep: one of the largest coordinated series of securities enforcement actions ever. If you have been following the crypto space over the last two years, this should not come as a surprise. In fact, it was inevitable. Still, the scope of Operation Cryptosweep is massive.
The Curious Tale of Tezos —from a $232 MILLION ICO to 4 class action lawsuits.
Just 8 months ago, a blockchain project called Tezos raised $232 million with an initial coin offering. It was the biggest ICO ever. Arthur and Kathleen Breitman, the young couple that founded the project, literally raised over 10x more than their wildest estimates. 8 months later, the couple and the project is facing four class action lawsuits. How could it all go so wrong?
The European Commission on Cryptocurrencies: Here are their 6 main conclusions.
The European Commission held a roundtable discussion on the impact, potential and challenges of cryptocurrencies. Afterwards, the commission presented its conclusions and recommendations for the future.
Want to do an ICO in Switzerland? Read this first!
Thijs Maas Thijs Maas is a Dutch LLM student who developed a keen interest in the interplay between distributed ledger technologies and law. He started LawAndBlockchain.eu to help narrow the increasing gap between legal doctrine and regulatory challenges posed by blockchain-based asset classes.
Insights From Lawyers: Blockchain at Berkely’s Legal Panel
Last week, Blockchain at Berkely, a student organization dedicated to the promotion of blockchain research, held its first major blockchain event. One panel in particular drew my attention. You guessed it: it’s the legal blockchain panel.