Does this phrase seem familiar – “All rights reserved”? If you have (and you would probably have) it’s a copyright notice, telling you that you cannot reproduce the art / text / item, because it’s copyrighted. And that’s what copyright law does – it stops people from *copying* things. But as copyright laws go, there’s
Most people would not expect NFTs to be deemed a security. Leading securities enforcement agencies have yet to inspect NFTs as securities. But the evolving game plan for NFT projects show that the popular NFTs of tomorrow may be deemed as securities.
Most NFTs are Not Securities
In a previous article, I wrote about the
Non-fungible tokens, or NFTs, are essentially unique blockchain tokens which reference a media. The said media often resides off-chain, but could also exist on-chain. For the past 12 months, NFTs have risen in popularity, giving birth to new industries and giving life to old industries. NFTs are more than a JPEG file; in this post
As part of the crypto-asset market regulatory measures, Her Majesty’s Treasury has put out a proposal to remove references to blockchain and Distributed Ledger Technology (DLT) in crypto-asset statutory definition in an attempt to be underlying technology-agnostic, and thus effectively rein in Decentralised Finance (DeFi) within the United Kingdom legal and regulatory landscape.
Source: Blockchain
The Hong Kong Special Administrative Region of the People’s Republic of China, through its Hong Kong Monetary Authority (HKMA); the central banking institution, is joining the list of states with their eyes set on taking firm decision on, or putting in place, public-oriented crypto-asset and stablecoin regulatory framework. HKMA introduced a questionnaire where it seeks
The Central Bank of Nigeria(CBN) has no plans to amend its extant legal tender laws, in view of its Central Bank Digital Currency(CBDC) project pilot launch October 1st, 2021, and beyond if successful. This came to fore after the Nigeria apex bank sent a strategic pilot implementation roadmap presentation to the Deposit Money Banks(DMBs) et
Introduction
Pursuant to historical terms and digital years both, it has always been the case that technological innovation goes before the law, and or regulation. This, however, is no different when it comes to crypto-asset emergence and resulting fast and quick-paced revolution, adoption, and implementation by mainstream real economic sector big players across the planet.
Newsletter #4
14th March, 2021.
Weeks have passed since the Central Bank of Nigeria(CBN) pronounced its crypto-asset transaction ban policy through a circular dated 5th February, 2021. As if taking a cue from its Nigeria central bank counterpart in the emergent cryptocurrency adoption and mainstreaming competition, the central bank of another Sub-Saharan West African country
Newsletter #3
28th February, 2021.
Central bank misleads citizens by claim it did not place “new restrictions on cryptocurrencies”.
Pursuant to the Nigeria central banking system authority crypto-ban policy pronouncement 5th February, 2021, all regulated Deposit Money Banks(DMBs), Non-Bank Financial Institutions(NBFIs), and Other Financial Institutions(OFIs) were “directed to identify persons and/or entities transacting in or
Image by Moose Photos on Pexels.comIntroduction – CBDCs
Many governments dislike Bitcoin, and other cryptocurrencies, because it deprives them of control and surveillance. Cryptocurrencies can be used as a closed loop, i.e. within a closed ecosystem, without ever touching the fiat monetary system. The only problem would be onboarding, because how would the
Lex Futurus Newsletter #2,
12th February, 2021.
CBN Crypto Payment Rail and Fiat Payment Rail Disconnection: Will the Regulator Ever Get “Crypto”?
The Colossus Apollo at Rhodes
5th February, 2021 the Nigeria central banking system galaxy guardian stood towering high above like the Colossus of Rhodes; a statue of Apollo. This time the
Why You Should Order a Legal Opinion Letter for Your Blockchain Crypto-asset Project
Lex Futurus Newsletter #1,
29th January, 2021.
Crypto-asset projects hardly ever order legal opinion letters to help evaluate projects for purpose to appreciate regulatory hazards that may be lurking in the dark for crypto firm token projects. Beyond these regulatory and court
We work in order to get paid. What are some legal issues with getting paid in crypto? Photo from Pexels
A fundamental aspect of commercial contracts is getting paid. Professional services are rendered for a fee. Products are sold for a price. Products given for free are called a gift. Services rendered for free are
Introduction
The coronavirus has a bad impact on businesses. In this article we explore whether crypto can help businesses survive the COVID19 pandemic. We touch on e-commerce, crypto payments, and issuing tokens via IEO.
Coronavirus and the cashflow problem
Traditional brick-and-mortar businesses depend on customers walking in. But the coronavirus makes it difficult, even dangerous,
Regulation of trading and custody of crypto-assets by the German regulator for banks and other financial institutions takes off 1st January, 2020
Germany joins the growing list of European Union (EU) countries, and the entire world institutionalising crypto-assets (“Kryptowerte”), via statutory activities, as the German lawmakers introduced new law to be effective 1st January, 2020.
24 November, 2019.
The free market, non-central bank monetary instrument bitcoin money (crypto-asset) revolution, like the mythical bird phoenix, rose from the ashes of the Global Financial Crisis (GFC) of 2007 – 2008. Its Genesis Block mined on the 12th of January, 2009, and 50 bitcoins first traded on the authochtonous chain codebase. According to
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