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The regime introduces rules on various crypto tokens, including cryptocurrencies and stablecoins, in the Dubai International Financial Centre.

By Brian A. Meenagh, Matthew Rodwell, and Ksenia Koroleva

On November 1, 2022, the Dubai Financial Services Authority (DFSA) crypto token regulatory regime came into effect.

The rules expand upon the DFSA framework for regulating investment tokens established in 2021 (the 2021 Rules). The Dubai International Financial Centre (DIFC) regime defines a token as a cryptographically secured digital representation of…

NFT creators and consumers should evaluate the legal and commercial considerations of NFTs that are linked to copyright work.

By Andrew Moyle, Christian McDermott, and Avinash Balendran

The Law Commission of England and Wales (the Commission) is a statutory independent body that keeps the law of England and Wales under review and recommends reform where it determines that it is needed. The Commission recently published a public consultation paper on digital assets which closed on 4 November 2022.

Hong Kong’s Core Climate aims to facilitate trading of carbon credits, while the Hub plans to expedite Singapore’s ESG ecosystem growth.

By Farhana Sharmeen, Paul A. Davies, and James Bee

On 28 October 2022, the Hong Kong Exchange and Clearing Limited (HKEX) launched Core Climate, Hong Kong’s International Carbon Marketplace. The birth of Core Climate is a further step toward the growth of ESG initiatives in Asia, which are gaining particular traction among the continent’s stock exchanges.

HKEX…

Unpacking three key competition issues for digital asset innovators and investors: M&A, interlocking directorates, and interoperability.

By Kelly Fayne, Anna Rathbun, and Evan Omi

In a sea of regulatory hurdles and issues, antitrust and competition laws may be low on the list of concerns of digital asset innovators and investors. But competition in the digital asset space is front of mind for key industry regulators. On October 24, 2022, SEC Chair Gary Gensler noted in a speech at…

The comprehensive framework, which spans multiple reports, aims to spur risk mitigation efforts and potentially a US central bank digital currency.

By Alan W. Avery, Arthur S. Long, Yvette D. Valdez, Stephen P. Wink, Douglas K. Yatter, Pia Naib, Adam Bruce Fovent, and Deric Behar

On September 16, 2022, the White House published a fact sheet described as the first-ever “Comprehensive Framework for Responsible Development of Digital Assets” (the Framework). The Framework articulates…

Mobile and desktop reference tool defines nearly 600 industry terms.

Latham & Watkins has published the second edition of The Book of Jargon® — Blockchain, Crypto & Web3, a comprehensive digital glossary developed for the business, academic, and legal communities. The resource renders the often complex vocabulary, acronyms, and slang of the blockchain, cryptocurrency, and Web3 sector more accessible and understandable to all.

With nearly 600 terms, the user-friendly glossary is roughly double the size of the first edition…

The plan directs the agency to develop a robust regulatory framework to prevent market misconduct, as SEC officials’ public comments keep advancements in technology high on the agenda.

By Marlon Q. Paz, Stephen P. Wink, Donald Thompson, and Deric Behar

On August 25, 2022, the Securities and Exchange Commission (SEC) published a draft Strategic Plan (the Plan) for fiscal years 2022–2026. The Plan focuses on three goals that, according to SEC Chairman Gary Gensler, advance the SEC’s…

Latham lawyers discuss the state of the crypto industry and the challenges for companies.

Turbulent market conditions are presenting novel challenges for companies in the cryptocurrency space. What are the factors contributing to the downturn, the implications for companies, and the legal rights and remedies that companies may have?

Restructuring & Special Situations Practice partners George Klidonas, Andrew Sorkin, and Suzzanne Uhland, together with Digital Assets & Web3 Practice Co-Chair and partner Yvette Valdez, recently hosted an in-depth discussion on…

Ethereum’s transition to proof of stake presents opportunities and pitfalls for certain digital assets and tokens built on the network.

By Jenny Cieplak, Ghaith Mahmood, Yvette D. Valdez, Stephen P. Wink, Adam Fovent, and Justin Tzeng

After years of development, the Ethereum blockchain appears poised to make its much-anticipated transition from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) model. This change has been described as one of the most significant upgrades in the…

The guidance is part of the rapidly evolving rules on anti-money laundering and aims to promote UAE as a jurisdiction compliant with best practices.

By Brian Meenagh, Ksenia Koroleva, and Matthew Rodwell

On August 1, 2022, the UAE Central Bank (CBUAE) issued the Guidance for Licensed Financial Institutions on the Risks Relating to Payments.[1]

The guidance was issued to implement the requirements of Federal Decree Law No. 20 of 2018 on Anti-Money Laundering and Combating the Financing…