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The Need for a Federal Alternative to State Money Transmission Licensing
The several states rather than the federal government are the primary regulators of money transmitters. State-by-state money transmission licensing is inefficient because transmitters provide a networked good that inherently crosses...
Why is decentralized and distributed file storage critical for a better web?
In the span of less than three decades the web has become one of the greatest achievements in human history, responsible for never before seen gains in science, technology, and...
The Bank Secrecy Act, Cryptocurrencies, and New Tokens: What is Known and What Remains Ambiguous
This report summarizes how various activities performed with cryptocurrencies and similar tokens have thus far been characterized by FinCEN and other authorities for the purposes of determining the compliance obligations...
What does it mean to issue a token “on top of” Ethereum?
Even for those with an understanding of cryptocurrencies, Ethereum and other advanced open blockchain networks can be confusing, especially when people start talking about launching their new cryptocurrency or token...
It doesn't hurt that they quoted me, but--in all seriousness--the two primary risks inherent in app-coin issuance are well flagged: securities regulation and buggy smart-contract code. And, on the securities...
Zcash is a cryptocurrency network that launched in October of 2016. Like other cryptocurrency networks (e.g. Bitcoin or Ethereum), Zcash allows anyone with a computer and an Internet connection to...
Zcash is a cryptocurrency network that launched in October of 2016. Like other cryptocurrency networks (e.g. Bitcoin or Ethereum), Zcash allows anyone with a computer and an Internet connection to...
Could your decentralized token project run afoul of securities laws?
Greetings from Shanghai and the Ethereum Foundation's Devcon2. Monday morning local time I presented a talk on Regulatory Considerations for Dapp (Decentralized Applicaiton) Development. It was the first non-panel talk...
Overcoming Obstacles to Banking Virtual Currency Businesses
Virtual currency businesses (“VCBs”) offer an alternative payment rail to traditional banks and financial institutions. In order to operate, though, VCBs themselves rely on banks to conduct fundamental payment, savings,...
Why are there so many Bitcoin scams?
Bitcoin’s public narrative is that it represents a dramatic break with the past. Corporate supporters tout digital currency as a disruptive hotbed of innovation, while ideological advocates claim it will...