Of its many tragic consequences, COVID-19 has left a significant mark on the global economy as it pressures thousands of businesses to temporarily – if not permanently – shut their doors. April data from the American Bankruptcy Institute suggested a 26% increase in Chapter 11 filings from 2019.1 … Read more about Bankruptcy Alternatives for the Cannabis Industry
On April 30, The Rodman Law Group hosted a webinar panel to discuss the state of cryptocurrency and decentralized finance ("DeFi") industries. Moderated by firm Associate Attorney Rebecca Spence, the panel was made up of industry veterans including Firm Founder David Rodman, foreign legal … Read more about Firm Webinar: Cryptocurrency and DeFi in 2020
Last week, Banco Santander, S.A. (d/b/a Santander Group) revealed that the multinational bank has initiated a complete end-to-end blockchain bond, issuing and settling the bond using public blockchain technology. One of the first of its kind, Santander claims that the successful end-to-end … Read more about Santander Unveils New Blockchain Bond Initiative
The US Commodity Futures Trading Commission (CFTC) has, thus far, exhibited far more enthusiasm for Distributed Ledge Technology ("DLT") than the Securities and Exchange Commission ("SEC"). On balance the CFTC has come across as open, if not downright enthused by the possibilities … Read more about CFTC Chairman: DLT Can Automate Regulation
Northern Trust has begun a massive operation to expand its blockchain and cryptocurrency offerings across multiple divisions. This marks one of the first forays into blockchain and cryptocurrency by a traditional financial institution. Northern Trust, a 129-year old company with nearly $10.7 … Read more about Has Northern Trust Killed the Big Four??
Last week, California lawmakers moved to create a bank backed by the state that would help handle money from the state's newly created recreational marijuana market. The bill, SB930, which would allow charter banks and credit unions regulated by the California Department of Business Oversight to … Read more about State-Backed Cannabis Bank Bill Passes California Senate
The Marshall Islands has created its own cryptocurrency, the Sovereign (SOV), and declared it the new official currency of the country, replacing the US Dollar. The bill creating the SOV was signed March 1, 2018. The SOV will now be the official legal tender for businesses and the 53,000 or so … Read more about Marshall Islands Replace US Dollar with Cryptocurrency
The Swiss Financial Market Supervisory Authority (FINMA) issued a new set of guidelines today that outline how it will respond to inquiries from Initial Coin Offering (ICO) organizers using financial market legislation, providing some clarity for those who choose to participate in … Read more about FINMA Releases ICO Guidelines, Provides Clarity for Participants