Blockchain and Banking. Come hear how these developments will transform banking and facilitate a transition to a new digital financial system.
- Digital Assets such as Bitcoin and Ether are increasingly being integrated into traditional finance.
- Bank activity involving digital assets is one key to more widespread adoption and use of digital assets.
- Recent guidance from the Office of the Comptroller of the Currency regarding the activities that national banks may engage in with respect to digital assets has paved the way for bank participation with respect to digital assets.
- Recent state level legislation has been passed in Wyoming, and similar legislation has been introduced in other states, that provides for new types of banking institutions to facilitate activities involving digital assets.
· The U.S. and many other countries are exploring the creation of central bank digital currencies
Legal Issues with Non-Fungible Tokens. This panel will focus on the myriad legal issues presented by NFTs.
Non-fungible tokens (“NFTs”) have taken the blockchain world by storm. Recently, the artist Beeple sold a purely digital work of art in the form of an NFT for $69 million through Christie’s. An explosion of interest in NFTs has ensued with original artwork, music, and a variety of other digital data being sold in NFTs, prompting a Saturday Night Live skit asking the question: What is an NFT? This session will cover a variety of topics including:
· What is an NFT?
· How does an NFT differ from other types of digital assets?
· What does the purchaser of an NFT receive?
· Copyright and IP issues related to NFTs
· Regulatory regimes potentially applicable to NFTs