Publications
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02.29.2024CFPB Issues Proposed Open Banking RuleArticlesThe Consumer Financial Protection Bureau announced that it was issuing a Notice of Proposed Rulemaking regarding Personal Financial Data Rights on October 19, 2023. The proposed rule would implement section 1033 of the Consumer Financial Protection Act of 2010, which gives consumers the right to access their financial data and authorizes third parties to access it on their behalf.
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12.04.2023CFPB Proposes Federal Oversight of Digital Wallet and Payment App ProvidersUpdatesThe Consumer Financial Protection Bureau (CFPB) published a proposed rule on November 7, 2023, that, if finalized, would subject to its supervisory authority certain Big Tech firms and other nonbank companies operating in the payments sphere.
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11.07.2023
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09.07.2023CFPB Announces Decision To Launch Rulemaking Targeting Data BrokersUpdatesFollowing a related request for information earlier this year, the Consumer Financial Protection Bureau announced on August 15, 2023, its intention to launch rulemaking targeting data brokers.
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03.27.2023CFPB Requests Information About Data Brokers for Planned RulemakingUpdatesThe Consumer Financial Protection Bureau announced on March 15, 2023, that it is issuing a Request for Information about the business practices of data brokers, which the agency said will assist it in “planned rulemaking” under the Fair Credit Reporting Act.
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12.20.2021FinCEN Proposed Beneficial Ownership RuleUpdatesOn December 7, 2021, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network issued a highly anticipated proposed rule that would implement key provisions of the Corporate Transparency Act.
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04.12.2021The Anti-Money Laundering Act of 2020: A Survey of Key Provisions and Practice TakeawaysUpdatesOn New Year’s Day 2021, Congress overrode a presidential veto to pass the Anti-Money Laundering Act of 2020 (AMLA 2020), which amends and modernizes the Bank Secrecy Act (BSA).
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03.23.2020CCPA & COVID-19: A Practical Guide to Addressing Privacy and Data Security Implications of the CoronavirusArticlesCOVID-19 arrives just as the first omnibus privacy statute in the United States, the CCPA became effective. Since its January 1 effective date, we continue to wait for finalization of the CCPA regulations and enforcement that was slated for July 1.
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08.17.2019Reconciling Blockchain Technology With California Consumer Privacy ActArticlesThe California Consumer Privacy Act of 2018 (CCPA), which goes into effect on Jan. 1, 2020, has signaled a new push in the United States to strengthen and broaden privacy regulations, similar to the trends seen in the European Union through the passage and implementation of the General Data Protection Regulation (GDPR).
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10.12.2018French Data Protection Authority Issues Guidance on Application of Blockchain to the GDPRUpdatesOn September 24, 2018, the French data protection authority, Commission Nationale de l’Informatique et des Libertés (CNIL), became the first data protection authority to issue written guidance on the intersection of the use of blockchain technology and the General Data Protection Regulation (GDPR).
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09.2018Self-Sovereign Identity and Distributed Ledger Technology: Framing the Legal Issues
White Papers
In this first-of-its-kind white paper, the authors describe the development of DLT as a means for creating a decentralized, portable, secure, privacy-respecting, and entirely user-controlled online identity system, often referred to as self-sovereign identity (SSI), and outlines the high-level legal issues and technological challenges that must be addressed ahead of mass adoption. -
01.11.2018SEC Takes Aim at Initial Coin Offerings AgainUpdatesIn its most significant action since issuing the DAO Report in July 2017, the SEC again took aim at initial coin offerings on December 11, 2017, when, through its new Enforcement Cyber Unit, the SEC entered into an administrative settlement with Munchee, Inc., for conducting unregistered offers and sales of securities.
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03.02.2017Perkins Coie Recognized in Law360 Article - Amazon Unit Twitch Gets A Win In IP War Against BotsArticles
Law360
Perkins Coie attorneys Judy Jennison, Joseph Cutler, Holly Simpkins and Andrew Klein were mentioned in the Law360 article, "Amazon Unit Twitch Gets A Win In IP War Against Bots" as counsel to Twitch in their current Intellectual Property case. -
10.07.2015Navigating the Unsafe Harbor: Keep Calm and Carry OnUpdatesThe Court of Justice of the European Union (CJEU) issued its landmark decision in Maximillian Schrems v. Data Protection Commissioner on October 6, 2015, ultimately invalidating the U.S.-EU Safe Harbor Framework.
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02.2015Virtual Currency Exchange Accounts, Hosted Wallet Services, and Vault Services Located Abroad May Trigger FBAR Filing RequirementsArticlesAs the title suggests, there remains an open question as to whether virtual currency accounts, hosted wallet services and vault services located abroad may trigger FBAR filing requirements.
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01.2015Dealing with Virtual Currency? Taxation, Reporting FBARs, and FATCA WorriesArticlesYou or your client decide to jump into the exciting but volatile world of Bitcoin and virtual currencies. What are some of the most important tax-related implications of dealing in virtual currency, and what are the hidden reporting requirements associated with such transactions?
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07.18.2014NYDFS Issues Sweeping Proposal for Rules Governing Virtual Currency BusinessesLawyer Publications
Virtual Currency Report
New York State DFS Superintendent Benjamin Lawsky today issued proposed rules applicable to virtual currency businesses. -
06.09.2014Admin Rulings: FinCEN Clarifies Money Transmitter Exemptions for Virtual Currency and Payment-Related ServicesUpdatesOn April 29, 2014, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a series of administrative rulings determining whether five different companies constitute money services businesses under FinCEN regulations.
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02.11.2014New FinCEN Guidance on Virtual Currency TransactionsUpdatesOn January 30, 2014, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued two administrative letter rulings that clarify the application of FinCEN’s regulations to certain participants in the virtual currency ecosystem.
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10.03.2013Government Brings Important Case Against Illegal Marketplace “Silk Road;” Government Acknowledges Lawful Uses of BitcoinUpdatesThe virtual currency industry is in the news once again following the October 1, 2013, Federal Bureau of Investigation’s shutdown of the “Silk Road” website.
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08.20.2013Virtual Currency: Government Scrutiny Continues to GrowUpdatesRiding the coattails of an August 6, 2013 federal court ruling that alleged Ponzi-schemer Trendon Shavers’ Bitcoin-based investment scheme constituted an investment contract, and therefore is a “security” under the federal securities laws, various federal and state lawmakers have aligned their attention to issues affecting the virtual currency market.
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08.09.2013Court Maintains Bitcoin-Related Investment Scheme Is a Security Under the Federal Securities LawsUpdatesIn response to the SEC’s first civil complaint arising from online virtual currency trading, alleged Bitcoin Ponzi schemer Trendon Shavers recently challenged the district court’s authority to hear the case.
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07.29.2013Bitcoin Under SEC Scrutiny: First Civil Prosecution Brought Against Alleged Virtual Currency Ponzi Scheme CompanyUpdatesOn July 23, 2013, the SEC ventured into the electronic currency world by filing a civil complaint against virtual currency “trader” Trendon Shavers and his company, Bitcoin Savings and Trust, in the U.S. District Court for the Eastern District of Texas.
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06.03.2013Beware of Risks Social Media Can Trigger for EmployersArticles
Business Insurance
Joseph Cutler was quoted in an article for Business Insurance titled, "Beware of Risks Social Media Can Trigger for Employers." -
06.03.2013Employers Should Draft Social Media Policies and Train Workers on Avoiding Related PitfallsArticles
Business Insurance
Joseph Cutler was quoted in an article for Business Insurance titled, "Employers Should Draft Social Media Policies and Train Workers on Avoiding Related Pitfalls." -
03.22.2013New FinCEN Guidance Changes Regulatory Landscape for Virtual Currencies and Some Prepaid ProgramsUpdatesTo address a perceived gap in regulatory treatment of increasingly popular virtual currencies, including Bitcoin, the U.S. Department of the Treasury Financial Crimes Enforcement Network (FinCEN) released new guidance on March 18, 2013.
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02.08.2012Proposed EU Regulation Promises Significant Changes to Consumer PrivacyUpdatesThe European Commission's proposed "Regulation on the Protection of Individuals with Regard to the Processing of Personal Data and on the Free Movement of Such Data" offers a significantly higher level of legal harmonization and predictability across Europe, but at the price of more stringent requirements and availability of stricter sanctions.
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07.30.2009FTC Again Extends the Deadline for Red Flags Rule EnforcementUpdatesThe FTC recently extended the enforcement deadline for the Red Flags Rule until November 1, 2009. The Rule was originally scheduled to go into effect on November 1, 2008, but on Wednesday, July 29, 2009, the FTC announced that it was delaying enforcement for the third time because a number of industries and entities within the FTC’s jurisdiction still expressed confusion and uncertainty about what types of entities would be subject to the Rule and what the Rule actually required of covered entities.
Presentations
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10.18.2022Future of Gaming: Metaverse, Web3, AI, and/or NFTsSpeaking EngagementsPanelist
2022 VGBA Summit Northwest / Seattle, WAJoe Cutler was a panelist in this deep dive into the future of gaming and the exploration of the innovations that will affect the industry.
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06.11.2022Identifying and Resolving Legal Issues for Layer 1 ProtocolsSpeaking Engagements
Consensus 2022 Roundtable Sessions / Austin, TX
Joe Cutler presented "Identifying and Resolving Legal Issues for Layer 1 Protocols" during the Consensus 2022 Roundtable Sessions in the Austin office. -
06.10.2022Promise of Self-Sovereign Data and Web 3.0 Identity Solutions: Real or MirageSpeaking EngagementsModerator
Consensus 2022 / Austin, TXDrawing from a panel of industry experts, explored whether all the hype around the promise of “self-sovereign” data and identity solutions with Web3.0 is real or a mirage.
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08.21.2020Who Should Control Digital Identity?—Big Data v. Decentralized DataSpeaking Engagements
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02.25.2020Creating a Blockchain Working GroupSpeaking Engagements
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10.10.2019BlockchainSpeaking EngagementsIssaquah Chamber October Luncheon / Issaquah, WA
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08.03.2019
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07.18.2019The California Consumer Privacy Act and BlockchainWebinarsThis webinar explores the steps policyholders can take now to address coverage issues presented by the CCPA. Topics include the types of policies that may respond to CCPA claims, how to negotiate favorable terms in your insurance policies and tips on loss management strategies.
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07.16.2019The Scope of the GLBA ExemptionWebinarsPerkins Coie’s CCPA Week
The CCPA exempts processing of personal information “pursuant to” the Gramm-Leach-Bliley Act (GLBA). This webinar will explore the contours of this exemption and examines activities to which financial institutions might be subject to enforcement actions under the CCPA. -
02.15.2019Blockchain Technology: Why the hype?Speaking EngagementsJ. Reuben Clark Law Society Annual Conference / Seattle, WA
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02.13.2019Making "Cents" of Blockchain and CryptocurrencySpeaking EngagementsRotary Club Luncheon / The Grand Hyatt
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11.19.2018GDPR & General Privacy with Blockchain TechnologySpeaking EngagementsThe panel will be discussing data privacy, GDPR Compliance and how they can be applied to blockchain technology.
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09.10.2018
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05.11.2018Opportunity & Challenge: Regulatory Issues in Blockchain TechnologySpeaking Engagements1st Annual Innovation & Technology Law Symposium - Blockchain and FinTech: Innovation and Regulation / Seattle, WA
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07.30.2017 - 08.01.2017Blockchain for EnterpriseSpeaking Engagements
Financial Innovation and Payments Summit
2017 Opal Group / Newport, RI -
12.15.2016COALA African Blockchain Workshop: Blockchain for Identity & PrivacySpeaking EngagementsPanelist
COALA African Blockchain Workshop / Nairobi, KenyaBlockchain technologies offer new opportunities for secure and non-counterfeitable identity platforms and systems. Yet, the decentralized nature of these technologies raises important concerns when it comes to establishing the identities of users. -
02.11.2016Security for Startups and Others: Lessons from the FTC’s “Start with Security” Seattle RoadshowSpeaking Engagements
Panelist
CLE Presentation / Seattle, WA -
01.27.2014 - 01.28.2014Challenges & Solutions: Advanced Persistent ThreatsSpeaking EngagementsCybersecurity Law and Strategies / Seattle, WAPerkins Coie Counsel Joseph Cutler will be speaking at the upcoming Law Seminars International conference titled, Cybersecurity Law and Strategies, on the topic "Challenges & Solutions: Advanced Persistent Threats."
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11.02.2011Data Security: Protecting User DataSeminarsPerkins Coie Interactive Entertainment Roundtable / Seattle, WAThis discussion will address lessons learned from the Sony data breach and other recent cases. We will also address how to work with law enforcement and what steps your company should be taking to enhance security and strengthen the network infrastructure.
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11.04.2009 and 11.05.2009Data Breach… Crisis? or Not a Crisis?SeminarsMarsh's Seattle Office / Seattle, WAIn the last decade, the business world has been transformed by the availability of an overwhelming amount of information. The collection of personal information and dependence on systems creates an obligation of companies to protect the personal information of their customers, employees, and partners.
Virtual Currency Report
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SEC Approves 11 Spot Bitcoin Exchange-Traded Products
On January 10, the Securities and Exchange Commission gave the green light to 11 issuers that applied for bitcoin exchange-traded funds (ETFs). After a false announcement and a course change due to the ruling in Grayscale Investments, LLC v. SEC, the SEC approved spot Bitcoin ETFs for ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree*, Fidelity, Valkyrie,... Continue Reading…
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BarnBridge and its founders Tyler Ward and Troy Murray allegedly sold unregistered SMART Yield bonds, which the SEC considers crypto asset securities. Respondents also were charged with violations stemming from operating BarnBridge’s SMART Yield pools as unregistered investment companies. BarnBridge agreed to disgorge $1,457,000 from the sale and Ward and Murray agreed to civil penalties... Continue Reading…
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NYDFS Proposes Updates to Guidance for Listing and Delisting Digital Assets
What Happened? The New York Department of Financial Services (NYDFS or Department) released proposed updates to its guidance on the self-certification process for listing and delisting digital assets. It also announced significant changes to the Department’s “Greenlist” of vetted digital assets. This industry development affects companies that have received permission to engage in virtual currency... Continue Reading…
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The Federal Reserve’s Novel Activities Supervision Program: What Banks and Nonbanks Need to Know
Financial technology firms and certain banks and bank holding companies can expect to face increased scrutiny as the Board of Governors of the Federal Reserve System takes another step to stem risks related to crypto-assets, use of blockchain technology, and complex fintech partnerships with nonbanks to deliver financial services to customers. Through its newly announced... Continue Reading…