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Europe steps up its fight against fraud
European watchdogs have long been focusing on enforcement against corporate crime with a great focus on anti-corruption, economic sanctions and money laundering.
A number of recent decisions in crypto bankruptcies and lawsuits illustrate the point that the plain text of the contracts between platforms and users often matters far more to defining their rights than any of the policy debates or philosophizing that sometimes can occupy the FinTech community and press.
Perhaps the most valuable lesson I may ever have learned in law school was when an exasperated professor cut off a longwinded student by saying "Stop thinking great thoughts and just read the contract." A number of recent decisions in crypto bankruptcies and lawsuits illustrate a similar point — that the plain text of the contracts between platforms and users often matters far more to defining their rights than any of the policy debates or philosophizing that sometimes can occupy the FinTech community and press.
Robert A. Schwinger explores recent developments in this edition of his New York Law Journal Blockchain law column.
Download the full New York Law Journal article, "Stop thinking great thoughts and just read the contract"
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European watchdogs have long been focusing on enforcement against corporate crime with a great focus on anti-corruption, economic sanctions and money laundering.
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The Digital Markets, Competition and Consumers Act (DMCC Act) received Royal Assent on 24 May 2024 and is generally expected to come into force in autumn this year.
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What appears to be a simple question is not as straightforward as one would think. One might take the view that it is just a matter of common sense whether something is a ship or not, yet it is difficult to define exhaustively what exactly a ship is, or the extent to which something forms part of a “ship”.
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