Blockchain
Chamber of Digital Commerce to File Amicus Brief Advocating for a Predictable Legal Environment for the Blockchain Industry
WASHINGTON, Jan. 21, 2020 (GLOBE NEWSWIRE) — Today, the Chamber of Digital Commerce submitted a motion for leave to file an amicus curiae brief in the SEC v. Telegram case currently pending in the Southern District of New York. The Chamber is contributing to this case to be a true “friend of the court” and provide a legal framework based on settled SEC jurisprudence to create a predictable legal environment for the blockchain industry. In submitting this brief, the Chamber does not take a view on whether the offer and sale of Grams is a securities transaction.
The key determination that the Chamber seeks is to distinguish between the subject of an investment contract (the digital asset) with the securities transaction associated with it. This requires two separate analyses: (i) whether there is an investment contract, offered as a securities transaction; and (ii) whether the subject of an investment contract is a commodity that can be sold in an ordinary commercial transaction. The Chamber further seeks confirmation that a digital asset is not a security solely by virtue of being in digital form or recorded in a blockchain database. Uncertainty as to how the federal securities laws apply to digital assets is stifling economic development in the United States. This technology neutral principle remains consistent with the law established by the Howey case and its progeny.
The Chamber is represented by Lilya Tessler, Partner and New York head of Sidley Austin LLP’s Blockchain and FinTech group. The amicus brief includes feedback from numerous contributors from the Chamber’s blockchain industry membership.
“An extraordinary amount of work went into developing this brief on behalf of the blockchain and digital asset industry. We greatly appreciate the thoughtful analysis that Lilya Tessler and her team provided, as well as the countless hours of contributions from many of our members,” said Perianne Boring, Founder and President, Chamber of Digital Commerce.
“The Court has an important opportunity to establish binding precedent in helping practitioners better discern when the securities laws apply to digital assets and when they do not under the Howey framework,” added Amy Kim, Chief Policy Officer of the Chamber of Digital Commerce. “We are delighted to represent the Chamber as amicus curiae in this pivotal case, which hinges on the Court’s application of the correct analytical framework to digital assets,” said Lilya Tessler of Sidley Austin LLP “The decision in this case will have far reaching implications for blockchain market participants, including investors, trading platforms, and technology companies that seek to facilitate both securities and commercial transactions in digital assets.”
The Court scheduled a hearing in the SEC v. Telegram case for February 18 and 19 to consider the SEC’s request for a preliminary injunction preventing the delivery of Grams to purchasers. Each party has filed motions for summary judgement that focus their arguments on whether Grams are securities based on the facts in the case, while the Chamber’s proposed brief sets forth the applicable legal standard and implications of the Court’s decision in setting a precedent for the entire industry.
About the Chamber of Digital Commerce Marie Knowles 
Headquartered in Washington, D.C., the Chamber of Digital Commerce is the world’s first and largest trade association representing the digital asset and blockchain industry. For more information, please visit DigitalChamber.org, and follow us on Twitter @DigitalChamber.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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