Distributed ledger technologies blockchain and smart contractshttps://www.nortonrosefulbright.com/en/inside-fintech/blog/rss/distributed-ledger-technologies-blockchain-and-smart-contractsFind the latest articlesen{FDA4BE1F-2BEC-4CDF-927D-6C4FD3F7C4F8}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2023/12/blockchain-law-going-after-blockchain-coders-and-perhaps-even-the-codeRobert A. SchwingerDistributed ledger technologies, blockchain and smart contractsBlog postBlockchain law: Going after blockchain coders and perhaps even the code?A number of recent cases involving blockchain platforms illustrate the difficulties that sometimes emerge in understanding what roles software coders do and don’t play when it comes to such systems, and thus whether they may potentially be faced with liability.Wed, 06 Dec 2023 14:37:00 ZRobert A. Schwinger{0D8CB205-0C77-4B3B-A634-42028AA4F36E}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2023/10/esma-reports-on-defi-market-developments-and-smart-contractsAnna CarrierDeFiBlog postDistributed ledger technologies, blockchain and smart contractsESMA reports on DeFi market developments and smart contractsOn 11 October 2023, the European Securities and Markets Authority (ESMA) published two articles on decentralised finance (DeFi), one on developments and risks in the EU market and another on a methodology for the categorisation of smart contracts. In these articles, ESMA highlighted risks to consumers, new forms of market abuse, and possible vulnerabilities to financial stability. Thu, 19 Oct 2023 14:44:00 ZAnna Carrier{CC259D11-9946-4EEC-B8DC-7D015DBE2A40}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2023/06/esma-updates-qas-on-the-implementation-of-regulation-eu-2022-858-on-a-pilot-regime-for-marketSimon LovegroveDistributed ledger technologies, blockchain and smart contractsBlog postESMA updates Q&As on the implementation of Regulation (EU) 2022/858 on a pilot regime for market infrastructures based on distributed ledger technologyOn 2 June 2023, the European Securities and Markets Authority (ESMA) updated its Q&As on the implementation of Regulation (EU) 2022/858 on a pilot regime for market infrastructures based on distributed ledger technology. In particular, ESMA has added new Q&As on DLT market infrastructures, cash settlement and exemptions from the Central Securities Depositories Regulation.Thu, 08 Jun 2023 15:29:00 ZSimon Lovegrove{967AAC02-612C-481A-87F5-1A9D25405F8C}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2023/02/esma-updates-qas-on-the-implementation-of-regulation-eu-2022-858-on-a-pilot-regimeSimon LovegroveDistributed ledger technologies, blockchain and smart contractsBlog postESMA updates Q&As on the implementation of Regulation (EU) 2022/858 on a pilot regime for market infrastructures based on DLTOn 3 February 2023, the European Securities and Markets Authority (ESMA) updated its Questions and Answers (Q&As) on the implementation of Regulation (EU) 2022/858 on a pilot regime for market infrastructures based on distributed ledger technology (DLT).Thu, 09 Feb 2023 16:28:00 ZSimon Lovegrove{E2E16CC7-BFD3-4FBA-B4E2-CB339B22236E}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2023/02/blockchain-law-can-there-be-law-without-peopleRobert A. SchwingerBlog postDistributed ledger technologies, blockchain and smart contractsBlockchain law: Can there be law without people?Two seemingly unrelated recent developments in the world of blockchain are now posing the same odd question: Can there be law without people?Wed, 08 Feb 2023 13:15:00 ZRobert A. Schwinger{9A553183-784E-4D18-B0A8-6D88964CD88A}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/12/esma-publishes-final-report-on-guidelines-on-standard-forms-formats-and-templates-to-applySimon LovegroveDistributed ledger technologies, blockchain and smart contractsBlog postESMA publishes final report on guidelines on standard forms, formats and templates to apply for permission to operate a DLT market infrastructureOn 15 December 2022, the European Securities and Markets Authority published a final report containing guidelines on standard forms, formats and templates to apply for permission to operate a Distributed Ledger Technology market infrastructure (DLT MI).Tue, 20 Dec 2022 12:18:00 ZSimon Lovegrove{E15535EF-CBFF-4218-A63D-782AEC81E25B}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/11/blockchain-law-whats-at-stake-in-proof-of-stakeRobert A. SchwingerBlog postDistributed ledger technologies, blockchain and smart contractsBlockchain law: What’s at stake in ‘Proof of stake’?Ethereum’s effectuation of the “Merge” was a technological tour-de-force with significant environmental upsides in reducing energy consumption and perhaps facilitating continued future innovation in the blockchain space. But unsettled fundamental legal questions remain.Thu, 01 Dec 2022 11:49:00 ZRobert A. Schwinger{5C5DB44F-EEC0-4483-9CE3-446FC4719F2A}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/10/serving-process-by-airdropping-nfts-the-next-frontierRobert A. SchwingerDistributed ledger technologies, blockchain and smart contractsBlog postServing process by airdropping NFTs: The next frontier?Critical to obtaining effective relief against a wrongdoing defendant is being able to serve process on that defendant in a manner that the forum hearing the dispute will deem sufficient, and that meets constitutional due process requirements for giving a defendant notice. Sometimes, though, this is easier said than done. This is especially so when litigating matters involving cryptocurrencies and other blockchain tokens. In such cases, the defendants being sued not infrequently operate only anonymously or pseudonymously, without ever disclosing their true names, physical addresses or even their general location—and that location might be anywhere in the world.Mon, 17 Oct 2022 15:19:00 ZRobert A. Schwinger{2DC6EB2F-CE93-42E6-BDA6-38FCF153E7A8}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/08/blockchain-law-meta-claims-from-the-metaverseRobert A. SchwingerDistributed ledger technologies, blockchain and smart contractsBlog postBlockchain law: Meta-claims from the metaverseThe explosion of activity and interest in “the metaverse” is now giving rise to disputes about that realm. Yet paradoxically these disputes have begun to take shape in the courts of our physical world.Wed, 03 Aug 2022 11:00:00 ZRobert A. Schwinger{1EDA7D81-AA48-45E4-8F0F-12D81BCA7C73}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/07/hermes-challenge-of-metabirkin-nfts-to-continueFelicia J. BoydCrypto-assets, cryptocurrencies, stablecoins and CBDCsDistributed ledger technologies, blockchain and smart contractsBlog postHermès Challenge of “MetaBirkin” NFTs to ContinueIn a case that is likely to provide much awaited guidance on the application of trade mark law to non-fungible tokens (NFTs), luxury design house Hermès International and Hermès of Paris, Inc. (Hermès) is suing artist Mason Rothschild in the U.S. District Court for the Southern District of New York for trademark infringement and dilution, misappropriation of its BIRKIN trademark, cybersquatting, false designation of origin and description, and injury to business reputation.Tue, 19 Jul 2022 08:23:00 ZFelicia J. Boyd{9E2E2C54-70D2-42E4-8772-BCEC674B2BBB}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/06/blockchain-law-anonymous-no-more-blockchain-analytics-in-the-courtsRobert A. SchwingerDistributed ledger technologies, blockchain and smart contractsBlog postBlockchain law: Anonymous no more: Blockchain analytics in the courtsBlockchain transactions are often said to be anonymous or at least pseudonymous—but are they really? At least for some users, part of the appeal of using cryptocurrency is the perceived anonymity it seemingly offers. But increasingly, judicial decisions and governmental enforcement activity show that this perception is mistaken.Tue, 07 Jun 2022 11:42:00 ZRobert A. Schwinger{69ADED33-5206-44ED-9744-21E93EA6A713}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/06/norton-rose-fulbright-advises-on-global-blockchain-and-digital-assets-industry-association-mergerMichael SinclairDistributed ledger technologies, blockchain and smart contractsBlog postNorton Rose Fulbright advises on global blockchain and digital assets industry association mergerGlobal law firm Norton Rose Fulbright advised the Global Blockchain Business Council (GBBC) on its merger with Global Digital Finance Limited (GDF), which sees the establishment of the world's largest members' association for the blockchain technology and digital assets sector.Tue, 07 Jun 2022 11:39:00 ZMichael Sinclair{1DB7A37D-25D1-4595-BC39-E0C67209B76C}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/06/are-nfts-a-type-of-property-under-english-lawSean MurphyBlog postCrypto-assets, cryptocurrencies, stablecoins and CBDCsDistributed ledger technologies, blockchain and smart contractsAre NFTs a type of property under English law?An English court has reportedly recognised a non-fungible token (NFT) as a type of property in an as yet unreported High Court decision (Lavinia Deborah Osbourne v (1) Persons Unknown (2) Ozone Networks Inc Trading as Opensea) (the OpenSea case).Mon, 06 Jun 2022 10:28:14 ZSean Murphy{D2C465A3-FC85-40D0-9538-744DF0CC74CA}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/05/norton-rose-fulbright-joins-blockchain-legal-industry-group-as-founding-memberDistributed ledger technologies, blockchain and smart contractsBlog postNorton Rose Fulbright joins Blockchain + Legal Industry Group as founding memberNorton Rose Fulbright has joined the Blockchain + Legal Industry Group, an organization aimed at promoting a better understanding of how blockchain impacts the legal technology landscape, as a founding member along with fellow legal professionals, academics and technologists.Wed, 25 May 2022 13:54:00 Z{23A0A056-4FFC-4D93-9D37-8F81B9EBFBC0}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/05/eiopa-publishes-its-feedback-statement-on-its-discussion-paper-on-blockchain-and-smart-contractsDistributed ledger technologies, blockchain and smart contractsInsurTechBlog postEIOPA publishes its feedback statement on its discussion paper on blockchain and smart contracts in insuranceThe European Insurance and Occupational Pension Authority (EIOPA) has published its feedback statement on its 2021 discussion paper on blockchain and smart contracts in insurance. EIOPA received a number of responses to its earlier paper and has summarised these in the statement. Stakeholders were able to identify a number of use cases for blockchain. The paper also looks at crypto-asset use cases in insurance and considers risks and benefits.Wed, 25 May 2022 13:52:00 Z{625D50F5-9AF2-43FB-AE53-F096D80A6870}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/04/european-parliament-legislative-resolution-for-the-proposed-regulation-on-a-pilot-regimeSimon LovegroveDistributed ledger technologies, blockchain and smart contractsBlog postEuropean Parliament legislative resolution for the proposed Regulation on a pilot regime for market infrastructures based on DLTOn 24 March 2022, the European Parliament published the text of a legislative resolution on the proposal for a Regulation of the European Parliament and of the Council on a pilot regime for market infrastructures based on distributed ledger technology.Tue, 12 Apr 2022 15:51:00 ZSimon Lovegrove{7A559DEA-36E1-41A2-8213-1D00E9E8B20D}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/04/blockchain-law-daos-enter-the-spotlightRobert A. SchwingerDistributed ledger technologies, blockchain and smart contractsBlog postBlockchain law: DAOs enter the spotlightWhat exactly are decentralized autonomous organizations, or "DAOs"? How do they operate? What are their advantages? Pitfalls? How do they compare to traditional legal entity structures, such as corporations and limited liability companies?Tue, 12 Apr 2022 15:50:00 ZRobert A. Schwinger{50A7EA40-D36E-4824-A0BA-9F420DE1A354}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/04/high-court-rejects-claim-blockchain-developers-owe-duties-to-usersHarriet Jones-FenleighAdam SanittDistributed ledger technologies, blockchain and smart contractsBlog postHigh Court rejects claim blockchain developers owe duties to usersThe latest instalment in the Tulip Trading v Bitcoin Association litigation has been greeted with relief by many in the blockchain community, after the High Court threw out a claim that bitcoin developers (including several bitcoin forks) owed a duty of care or a fiduciary duty to an alleged owner of bitcoin. But the Court did not rule out duties being owed in other circumstances – distributed ledger technology developers, miners and users should all beware that the risk of unexpected liability has not been completely eliminated.Tue, 12 Apr 2022 15:49:00 ZHarriet Jones-Fenleigh, Adam Sanitt{A4776A07-BB35-4A28-87B9-43BE6891338F}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/04/digital-securities-interview-with-jens-hachmeisterDistributed ledger technologies, blockchain and smart contractsArtificial intelligence and digitalisationCrypto-assets, cryptocurrencies, stablecoins and CBDCsTechnology and innovationBlog postDigital securities: interview with Jens Hachmeister, Managing Director, Issuer Services and New Digital Markets, Deutsche Börse Group, on the D7 platformIn this blogpost we summarise a recent interview with Jens Hachmeister, Managing Director, Issuer Services and New Digital Markets, Deutsche Börse Group, in relation to the D7 platform.Mon, 11 Apr 2022 14:49:48 Z{E886AEDB-0138-431D-97B3-976BCF1C8D0F}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/02/blockchain-law-no-longer-underground-emerging-issues-for-minersRobert A. SchwingerDistributed ledger technologies, blockchain and smart contractsBlog postBlockchain law: No longer underground: Emerging issues for minersIn his Blockchain Law column, Robert Schwinger takes a closer look at the “unsung players” in the blockchain world—the miners and validators who keep the blockchain infrastructure functioning. Who are they, what do they do, and what legal issues might they face?Tue, 08 Feb 2022 12:32:00 ZRobert A. Schwinger{BFCCC2E0-89F2-4AD1-AB01-5C092F397096}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/02/blockchain-law-the-fork-not-takenDistributed ledger technologies, blockchain and smart contractsBlog postBlockchain Law: the fork not takenIs the token holder – often the holder of some sort of digital currency – always free to choose which branch of the fork to take?Tue, 08 Feb 2022 12:31:00 Z{D4A47D17-CFE1-438B-897A-30C80843D91A}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/02/smart-legal-contracts-under-english-law-part-3-remedies-consumer-contracts-jurisdictionHarriet Jones-FenleighAdam SanittJonathan HawkinsDistributed ledger technologies, blockchain and smart contractsBlog postSmart legal contracts under English law: Part 3: Remedies, Consumer Contracts, Jurisdiction & Governing LawThe Law Commission has concluded its investigation into how the current law of contract is able to apply to smart legal contracts. Our previous two posts considered the landscape of English contract law and how it might need to adapt to address the challenges presented by smart legal contracts, as well as more detailed consideration as to how the fundamental tenets of contract law – formation and interpretation – may work in practice.Tue, 08 Feb 2022 11:50:00 ZHarriet Jones-Fenleigh, Adam Sanitt, Jonathan Hawkins{6762FFAA-4A2D-4D88-B1E7-E221991516C6}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/02/smart-legal-contracts-under-english-law-part-1-introductionHarriet Jones-FenleighAdam SanittJonathan HawkinsDistributed ledger technologies, blockchain and smart contractsBlog postSmart legal contracts under English law: Part 1: IntroductionThe Law Commission has concluded its investigation in to how the current law of contract applies to smart legal contracts. Their report is heartening reading for business. The laws of England & Wales are robust and flexible enough to adapt to the use of smart legal contracts, although there will be a period of adjustment, during which incremental changes and adaptations are required.Tue, 08 Feb 2022 10:50:00 ZHarriet Jones-Fenleigh, Adam Sanitt, Jonathan Hawkins{14039517-B4B3-433B-8775-4F3345A82446}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2022/02/smart-legal-contracts-under-english-law-part-2-formation-interpretationHarriet Jones-FenleighAdam SanittJonathan HawkinsDistributed ledger technologies, blockchain and smart contractsBlog postSmart legal contracts under English law: Part 2: Formation & InterpretationThe Law Commission has concluded its investigation in to how the current law of contract is able to apply to smart legal contracts. Our previous post provided an introduction to smart legal contracts and the big picture challenges that English contract law will need to address. In this post we consider two fundamental contractual questions addressed by the Law Commission report:Tue, 08 Feb 2022 10:48:00 ZHarriet Jones-Fenleigh, Adam Sanitt, Jonathan Hawkins{CECE9C52-85B9-4FA9-B63D-A4D7F9CA32C1}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2021/12/eu-pilot-regime-on-dltSimon LovegroveDistributed ledger technologies, blockchain and smart contractsBlog postEU pilot regime on DLTOn 24 November 2021, the European Parliament announced that it had reached agreement with the Council on a pilot scheme based on distributed ledger technology (DLT). The project follows the ‘sandbox’ approach, allowing for temporary derogations from certain requirements under the EU’s financial services legislation.Tue, 14 Dec 2021 15:04:00 ZSimon Lovegrove{4D3B613F-E0B2-4C2C-9ECC-08C01660567C}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2021/11/nfts-and-intellectual-property-rightsFarah MukaddamDistributed ledger technologies, blockchain and smart contractsBlog postNFTs and Intellectual Property RightsAny creative endeavour is in theory capable of being tokenised or “NFT’d”. Record prices are being reached for the sale of non-fungible tokens (NFTs). But what are NFTs? How are they created? Why are they so valuable? What does the buyer own? What rights do they confer? And why should IP lawyers care? Wed, 24 Nov 2021 11:45:00 ZFarah Mukaddam{DAE125FF-EF11-4810-A80B-A02EFA848E8B}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2021/07/blockchain-law-when-plaintiffs-raise-claims-of-platforms-behaving-badlyRobert A. SchwingerDistributed ledger technologies, blockchain and smart contractsBlog postBlockchain law: When plaintiffs raise claims of platforms behaving badlyConsumers and businesses should be able to control their financial assets and investments through use of electronic cryptocurrency platforms with confidence. What happens, however, when these platforms do not function properly or the platform operators work against their own users? Does the user have any remedies? A series of rulings over recent months provides little encouragement for plaintiffs.Tue, 21 Sep 2021 11:09:00 ZRobert A. Schwinger{6731C2FA-75FD-400B-8DEC-A8B81BAB5CC2}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2021/06/econ-discusses-amendments-on-mica-dora-and-dltrFlupke van den BogartBlog postCrypto-assets, cryptocurrencies, stablecoins and CBDCsDigital operational resilience in financial services DORADistributed ledger technologies, blockchain and smart contractsECON discusses amendments on MiCA, DORA and DLTROn 16 June 2021, the European Parliament Committee on Economic and Monetary Affairs (ECON) held a meeting in which it discussed the main legislative proposals under the European Commission (Commission) Digital Finance Strategy.Wed, 23 Jun 2021 08:54:00 ZFlupke van den Bogart{934DD940-DFA5-4C34-8A0A-7BF4624C8104}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2021/04/wyoming-to-recognize-daos-as-llcsAndrew James LomRachael HashmallBlog postDistributed ledger technologies, blockchain and smart contractsWyoming to Recognize DAOs as LLCsOn April 21, 2021, Wyoming Governor Mark Gordon signed Bill 38 into law allowing Wyoming to recognize decentralized autonomous organizations (DAOs) as limited liability companies.Fri, 30 Apr 2021 11:42:00 ZAndrew James Lom, Rachael Hashmall{1E038EDA-393F-49EE-95EE-3A0DC049F864}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2021/03/econ-rapporteur-publishes-draft-report-on-dlt-market-infrastructures-pilot-regimeFlupke van den BogartBlog postDistributed ledger technologies, blockchain and smart contractsECON Rapporteur publishes draft report on DLT market infrastructures pilot regimeOn 12 March 2021, European Parliament rapporteur Johan van Overtveldt (BE, ECR) published his draft report on the European Commission’s proposal for a Regulation on a pilot regime for market infrastructures based on distributed ledger technology (DLT) [link]. Fri, 12 Mar 2021 11:45:00 ZFlupke van den Bogart{35C655B6-A379-44F0-90D2-7336CCD1AA49}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2021/02/speaking-of-blockchain-technology-when-does-tech-talk-become-a-crimeStephen M. McNabbRobert A. SchwingerBlog postDistributed ledger technologies, blockchain and smart contractsSpeaking of blockchain technology: When does tech talk become a crime?The United States District Court for the Southern District of New York recently explained how providing a talk on the wrong subject to the wrong people in the wrong place can lead to criminal culpability. Mon, 01 Feb 2021 11:47:00 ZStephen M. McNabb, Robert A. Schwinger{CB916CCB-D52A-44AA-B4F8-86310D374EF1}https://www.nortonrosefulbright.com/en/inside-fintech/blog/2020/09/proposed-european-regulations-on-markets-in-crypto-assets-and-dlt-market-infrastructureAnna CarrierDistributed ledger technologies, blockchain and smart contractsCrypto-assets, cryptocurrencies, stablecoins and CBDCsBlog postProposed European Regulations on markets in crypto-assets and DLT market infrastructureOn 23 September 2020 the European Commission published its long-awaited draft regulation on markets in crypto-assets (MiCA), with its accompanying annex and a draft regulation on a pilot regime for market infrastructures based on distributed ledger technology (DLTR).Thu, 24 Sep 2020 08:52:00 ZAnna Carrier