The Financial Conduct Authority (FCA) published a letter to Cryptoasset firms on the 4 July confirming that qualifying cryptoassets will now fall within the scope of the financial promotions regime. From the 8 October 2023, all firms marketing cryptoassets to UK consumers, including firms based overseas, must comply with the financial promotions regime. What is a Financial Promotion? A financial promotion is a broadly defined term, with no technological boundaries ...
This article first provides an overview of the current state of the crypto disputes landscape, which arises at a novel intersection of crypto, arbitration and insolvency. It then looks at the type of legal and practical factors that may be relevant to a creditor in deciding on a dispute strategy when faced with a financially distressed crypto company, including in the context of arbitration and liquidation proceedings ...
Crypto assets are a rapidly evolving and highly innovative sector of the financial industry, offering new opportunities and challenges for businesses, consumers and regulators. Crypto assets are digital representations of value or contractual rights that use cryptography and distributed ledger technology (DLT) to enable peer-to-peer transactions without intermediaries ...
On March 11, 2021, Christie’s auction house made a landmark sale by auctioning off an entirely digital artwork by the artist Beeple, a $69 million transaction in Ether, a cryptocurrency.1 In doing so, the famous auction house put non-fungible tokens (“NFT”), the product of a decentralized blockchain, in the spotlight ...
The UK Advertising Standards Authority (ASA) has ruled that the marketing of an NFT of a Johan Cruyff goal was misleading. The one-of-a-kind non-fungible token (NFT), entitled “In a Way, Immortal”, depicts Cruyff’s flying kick for Barcelona against rivals Atlético Madrid which was dubbed “The Phantom Goal” and earned Cruyff the nickname the "flying Dutchman". The NFT was auctioned and eventually sold for a reported €550.000 at Sotheby's ...
As an eventful 2018 comes to a close, we look ahead to 2019 and our “Top 10 List” of key issues U.S. financial institutions, non-banks providing financial services, and financial technology (fintech) entities should plan for and watch throughout the upcoming year. The first five items on the list are discussed below, and the remainder of our list will follow shortly in another post ...
An encouraging news update comes from Croatia, as some of the recent reports claim that the Croatian IT market reached a value of EUR 950 million in 2015. According to IDC Adriatic – a regional branch of the global market intelligence provider – this shows an increase of 10.8% when compared to the previous year.IDC Adriatic added that a continuation of the IT market's recovery is expected in 2016 as well. More precisely, further strengthening of the market at an average annual rate of 6 ...
The Croatian Competition Agency (the "Agency") initiated proceedings against Grand Auto – an authorised dealer of Land Rover and Jaguar cars for Croatia, after an initiative by the Auto Dealership "Karlo", a former authorised repairer of the said cars for Croatia ...
The Czech Customs Authority announced that Croatia and Turkey will accede to the Convention on a Common Transit Procedure between EU Member States and EFTA countries (the “Convention”) as of 1 July 2012. As a result, the forms listed in the supplements to the Convention are to change. The Czech Customs Authority adds, however, that the currently applicable forms shall continue to be in force and effect at least until 30 June 2013 ...
On June 20, 2011, in Singapore, ICANN (Internet Corporation for Assigned Names and Numbers), the global coordination company for Internet addresses, approved the new program for the thematic extension of gTLDs. This program will certainly lead to significant growth in the number of domain names (gTLDs) on the Internet ...
On June 20, 2011 in Singapore, ICANN ( Internet Corporation for Assigned Names and Numbers), the global co-ordination body for Internet addresses, approved the new program for the thematic extension of GTLDS. This program will certainly lead to significant growth in the number of domain names (GTLDS) on the Internet ...
The California Privacy Rights Act of 2020 (CPRA), also known as CCPA 2.0, was approved by California voters on November 3, 2020. The new law builds on CCPA and forecasts an even stricter regulatory data privacy environment for businesses. Please join Bradley cybersecurity and privacy attorneys Erin Illman, Junaid Odubeko, and Steve Snyder for a discussion of areas that companies need to address before CPRA goes into effect ...
Governments are turning toward the use of data driven solutions as part of their response to the COVID-19 pandemic, which raises numerous privacy concerns. Contact tracing technology seeks to inform and notify individuals that have been in contact with a person infected with COVID-19, enabling such individuals to self-quarantine, receive testing and, if required, obtain follow-up treatment ...
Spread of coronavirus infection made companies to change their daily practices in order to ensure continuous business operation without compromising individuals’ safety. In this newsletter, we elaborate on the most sensitive legal issues in terms of data protection, privacy and cybersecurity ...
After the start of Phase 2 (which began on 4 May 2020) the Italian government adopted on 16 May Law Decree no. 33 concerning, inter alia, "Further urgent measures to deal with the COVID-19 outbreak" (the "DL 16 May 2020"). Moreover, on 17 May 2020, in implementation of the aforementioned DL 16 May 2020, the Prime Minister issued a new decree with specific implementing provisions (the "PMD 17 May 2020") ...
Data protection and privacy laws are relevant to current responses aimed at preventing the spread of the coronavirus. An important response to limit the spread of the infection is the practice of identifying and monitoring anyone who may have been in contact with an infected person ...
A&L Goodbody's Dr Vincent Power writes why the COVID-19/Coronavirus crisis demonstrates why an international convention is needed to deal with various aspects of shipping (including the repatriation of crew and passengers) in the event of another pandemic or epidemic. Go to publication For more information on this topic please contact Dr Vincent Power, Partner or any member of A&L Goodbody's EU, Competition & Procurement team ...
Now that it appears the COVID-19 quarantine may be on the verge of ending, there are issues to consider before re-starting collection operations. When is too soon? Are there any special notices that could or should be sent? What about voluntary surrender of collateral during shelter in place? We will address these issues as well as lien priority and credit reporting ...
In the wake of COVID-19, cities, counties and states across the nation are issuing “shelter in place” orders to curb nonessential movement of residents, and companies around the world are moving to a remote work system. This webinar focuses on IT, cybersecurity, and privacy issues that may impact businesses that are located in “shelter-in-place” jurisdictions ...
Cryptocurrency, blockchain technology and fintech companies are well experienced in dealing with legal and regulatory issues that are unique, unprecedented and global. While usually creative and oriented to solving problems, even the most flexible of teams are stretched with the onslaught of issues unfolding in the wake of COVID-19 ...
At LEĜA we are monitoring the measures that are taken to face the crisis generated by COVID-19 and we will be sending updates to our reports and comments divided by practice areas and industry so that you can easily find the information that is relevant to you. Please note that it is our policy to report announced measures only when they are translated into acts published in the Official Gazette ...
The coronavirus disease (COVID-19) outbreak continues to put pressure on the public and private sectors alike. As we are entering new phases of the COVID-19 pandemic, we have to switch our focus towards safely and gradually reopening our businesses and economies while continuing to implement prevention measures ...
Scammers and cyber crooks did not take long to adapt their usual fraud to this uncertain period caused by the Covid-19, refinishing notably their sadly notorious “CEO Fraud” to the present circumstances ...
