The EU General Data Protection Regulation and The Blockchain

The EU General Data Protection Regulation and The Blockchain

The European Union's General Data Protection Regulation ("GDPR") will take effect in a few days on May 25, 2018 and will require businesses that process EU citizen's data to allow for increased privacy protections. Among the important changes is the right of erasure, also known as the "right to be forgotten" or the right to [...]

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Unlock Blockchain Forum

Unlock Blockchain Forum

At this week's Unlock Blockchain Forum, Director General of Smart Dubai's keynote address stated that Dubai is taking steps toward becoming the blockchain capital of the world. In fact, there are already 20 public sector blockchain use cases and counting. According to the World Economic Forum, by 2021, Dubai aims to create: 1. A smart, liveable [...]

Taxation of Cryptocurrency

Taxation of Cryptocurrency

While 'Tax Season' may traditionally be from January 1st through April 15th for most individuals, it is a year-round consideration for those who hold and transact cryptocurrency assets. Internal Revenue Service ("IRS") Notice 2014-21 (the "Notice") is an important guidance for those in the crypto and digital currency space, especially when it comes to reporting profits. Under [...]

An IPO For the Ages: Saudi Aramco

An IPO For the Ages: Saudi Aramco

When I am not thinking about cryptocurrency's market valuation of over $700 billion dollars, I am eagerly anticipating Saudi Aramco's Initial Public Offering ("IPO"). Saudi Arabia is the world's largest oil exporter and there is much speculation about Aramco's value with figures ranging from $500 billion to $2 trillion being mentioned by Crown Prince Mohammad Bin Salman. [...]

Blockchain Technology: From Digital Currency to Digital Transformation

Blockchain Technology: From Digital Currency to Digital Transformation

Blockchain is a type of distributed ledger where value-exchange transactions are sequentially grouped into blocks. These blocks are chained and recorded in a peer-to-peer network. According to Harvard Business Review, there are five principles on how blockchain works: Distributed database No single party controls the information or data. Peer-to-peer transmission Communication occurs directly between peers. [...]

The SEC’s Keynote Address on Token Regulation

The SEC’s Keynote Address on Token Regulation

On November 30, 2017, Blockchain@Berkeley held an ICO Financing Conference with Keynote address by the Securities and Exchanges Commission ("SEC"). Panelists included: Kristin Snyder — Associate Regional Director (Examinations) at SEC, Zach Fallon — Special Counsel in Office of Small Business Policy at SEC, Victor Hong — Senior Counsel in the Division of Enforcement at SEC, and Scott Walker — Attorney Advisor in the [...]

The Bank Secrecy Act and Cryptocurrency

The Bank Secrecy Act and Cryptocurrency

The Bank Secrecy Act ("BSA") sets forth that financial institutions are to collect and retain information about their customers and share such information with the Financial Crimes Enforcement Network ("FinCEN"), a bureau that is within the Treasury. In 2013, FinCEN published a guidance on the "Application of FinCEN's Regulations to Persons Administering, Exchanging, or Using [...]