Wyoming to Recognize DAOs as LLCs
On April 21, 2021, Wyoming Governor Mark Gordon signed Bill 38 into law allowing Wyoming to recognize decentralized autonomous organizations (DAOs) as limited liability companies.
DORA review: Member States consider inclusion of payment card networks and retail payment infrastructures
On 28 April 2021 the Portuguese Presidency of the Council held a meeting of a Council working group in order to continue its legislative review of the proposed regulation on digital operational resilience for the financial sector (DORA).
FCA updates webpage on The Digital Sandbox pilot
On 28 April 2021, the FCA updated its webpage regarding The Digital Sandbox pilot by adding a new section on an evaluation report.
FCA speech: Levelling the playing field – innovation in the service of consumers and the market
On 20 April 2021, the FCA published a speech given by its CEO, Nikhil Rathi, during the FinTech Week event. The speech is entitled Levelling the playing field – innovation in the service of consumers and the market.
EU proposes new Artificial Intelligence Regulation
On April 21, 2021, the EU Commission adopted a proposal for a regulation (the AI Regulation) on “artificial intelligence systems” (AI systems), which it describes as “the first ever legal framework on AI.”
Cryptocurrency users beware: IRS targets unknown taxpayers via John Doe summons
Earlier this month a federal court in the District of Massachusetts granted an order allowing the Internal Revenue Service (IRS) to serve a John Doe summons on a digital currency exchanger.
Blockchain law: Cryptocurrency offers no escape from international sanctions
Recent US enforcement activity illustrates how the government is taking strong action against persons involved with misuses of cryptocurrency in order to meet this threat and deter others.
Member States consider amendments to MiCA proposal
On 18 March 2021, the Portuguese Presidency of the Council hosted a meeting of a working group where representatives of Member States continued discussions over the proposed regulation on markets in crypto-assets (MiCA).