Non-fungible tokens (NFTs) have received considerable press attention lately, as retail and institutional interest has boomed for digital art, commemorative items, and other assets that reside in blockchain ecosystems. This fast-moving area presents several significant legal issues, some of which go to the foundational elements of our securities and commodity futures laws. Please join our speakers as they highlight those points, assess the potential for regulatory interest in this asset class, and offer their practical perspectives on emerging trends in the NFT space.
Key topics to be discussed:
What are NFTs and how do they work?
What is the market for them like?
What are the key legal and regulatory considerations?
What are the risks associated with NFTs?
Date / Time: January 28, 2022
2:00 pm – 3:00 pm Eastern
1:00 pm – 2:00 pm Central
12:00 pm – 1:00 pm Mountain
11:00 am – 12:00 pm Pacific
Choose a format:
Live Video Broadcast/Re-Broadcast: Watch Program "live" in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for "live" CLE credit.
On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 5 business days after the original recording date and are viewable for up to one year.
Mark Rasmussen | Jones Day
Mark Rasmussen is a seasoned litigator and investigator with more than 15 years of experience representing clients in complex litigation and regulatory matters.
Since 2016, Mark has advised clients on cryptocurrencies, blockchain technology, and fintech matters, including initial coin offerings (ICOs) and token issuances, money transmitter and virtual currency regulations, and litigation. In 2018, he was appointed by Chief Judge Barbara Lynn, of the Northern District of Texas, to be the first-ever receiver in a Securities and Exchange Commission (SEC) enforcement action involving an ICO promoter. In addition, Mark is coeditor and coauthor of the book Blockchain for Business Lawyers and is a frequent speaker on legal issues related to blockchain technology.
Mark actively represents clients in bankruptcy litigation, securities and consumer class actions, antitrust matters, derivative investigations, fiduciary duty claims, merger disputes, and contract disputes. In addition, while at a prior firm, he helped win a $22 million jury verdict (plus $5 million in punitive damages) on behalf of a technology start-up company in a trade secret case that received significant publicity. Mark also has substantial experience with internal investigations and regulatory investigations involving the SEC, Commodity Futures Trading Commission (CFTC), Department of Justice (DOJ), and state securities regulators (including the Texas State Securities Board).
Mark is also committed to pro bono service. Some of his matters include obtaining asylum for a monk and green cards for abused women under the Violence Against Women Act. He also helped a Hasidic Jewish inmate challenge prison rules under the First Amendment.
Joshua Sterling | Jones Day
Josh Sterling has 20 years of experience in the derivatives and securities markets, both as lead counsel to major companies and as a senior federal financial regulator. Josh represents clients that are active in the derivatives markets with matters before the U.S. Commodity Futures Trading Commission (CFTC), the U.S. Securities and Exchange Commission (SEC), and various self-regulatory organizations, including the National Futures Association (NFA) and the Chicago Mercantile Exchange (CME).
Josh has experience assisting clients with examinations and investigations relating to their trading practices and compliance with related registration, reporting, and other rule requirements. He helps financial services, fintech, energy, and other companies with CFTC registration, regulatory advice, and advocacy in support of their business objectives. Josh has also represented major trade associations in industry reform efforts with CFTC and NFA, and he is experienced in assisting asset managers in the design, launch, and operation of commodity pools and other alternative trading vehicles.
Prior to joining Jones Day, Josh was director of CFTC’s Market Participants Division, which regulates the 3,300-plus banks, intermediaries, and asset managers registered with the agency to trade derivatives in the U.S. markets. Josh was responsible for CFTC’s examination, rulemaking, and enforcement referral programs governing those firms, and he participated in the charging and settlement of several precedent-setting matters during his tenure. In addition, Josh helped drive CFTC’s innovation initiative in the crypto asset space. He also completed a significant rulemaking agenda, concluding all open matters for his Division under the Dodd-Frank Act. For his record setting accomplishments at CFTC, Josh received the Chairman’s Award for Excellence in Management.
1. What are NFTs? | 2:00pm – 2:05pm
2. What is the NFT market in the US? | 2:05pm -2:10pm
3. Commodities law considerations | 2:10pm – 2:15pm
4. Securities law considerations | 2:15pm -2:20pm
5. IP considerations | 2:20pm – 2:30pm
6. AML and sanctions considerations | 2:30pm – 2:40pm
7. State law considerations | 2:40pm – 2:50pm
8. Cybersecurity considerations | 2:50pm – 3:00pm