Some compare distributed ledger or blockchain technology to the internet hypertext transfer protocol that spawned the world wide web, transformed industries, and created new business models. The Biden administration signaled its interest in regulating the technology and its users in its March 2022 Executive Order on Ensuring Responsible Development of Digital Assets. However, bitcoin was launched in January 2009. It and other cryptocurrencies are already in worldwide use. Numerous blockchain businesses are already in operation and many companies have devoted millions to adapting their existing businesses to a distributed model. This presentation will:
• Provide a background on blockchain technology and governance models, cryptocurrency, and non-fungible tokens (NFTs)
• Discuss blockchain business models
• Report on recent U.S. legal developments
• Project future regulatory initiatives
This will be an in-person and webinar meeting. The meeting will be recorded for inclusion in our Hoffman Professionalism Center CLE Library.