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Blockchain Basics for Investment Managers: A Token of Appreciation  (Volume 51, Number 6&7– March 21, 2018)

Author:  Jay G. Baris.; Joshua Ashley Klayman.

Source: Volume 51, Number 06, March 15 2018 , pp.67-82(16)

Review of Securities & Commodities Regulation


Innovative digital financial products are attracting the attention of regulators concerned with their potential disruptive impact on the financial system and the risks they pose to investors. The authors discuss the basic background and current uses of blockchain technology, and then turn to the responses of regulators, most notably the SEC and the CFTC. The issues they address include digital tokens as securities, exchange trading of digital products, and requirements for investment advisers, investment companies, and commodity pool operators. This is a double issue comprising Volume 51, Numbers 6&7.

Keywords: Bitcoin; Blockchain and Investment Laws; Digital Token Sales as a Sale of Securities; Munchee Order; Regulation of Investment Advisers

Affiliations:  1: Shearman & Sterling LLP; 2: Morrison & Foerster LLP.

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