Tokenized Assets (NFTs, Metaverse, and DeFi): Applications and uses, what attorneys need to know
Zachary Golda | Sheppard Mullin
Zachary Golda is an associate in the Business Trial Practice Group in the Orange County office. Zachary’s practice focuses on general business litigation, including breach of contract, business torts, insurance, sports, and other high-stakes business litigation matters.
On-Demand:January 6, 2022
$195.002 hour CLE
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Attorneys will learn the core concepts behind the movement toward tokenized assets on blockchains. Cryptocurrencies, like Ether and BTC, are just a small fraction of the current tokens used today by innovators and speculators alike. In this program, we will cover the difference between cryptocurrencies and tokenized assets, types of tokenized assets existing today, and existing regulatory concerns for businesses launching tokens. Underneath these topics, attorneys will be introduced to novel forms of business associations that have arisen alongside tokenized assets, and the possibility for a specialized regulator for tokenized assets.
Key topics to be discussed:
What are tokenized assets?
- They’re not all “currencies,” in fact the vast majority are not trying to be currencies.
- Description of methods by which blockchains allow for trustless exchange of assets.
- How tokens blur the line between owning a product and owning an interest.
- Examples of existing tokens used today.
- NFTs/Metaverse, DeFi
Why use tokenized assets?
- Decentralization, removal of gatekeepers from financial products.
- Efficiencies, economies of scale.
- To replace lawyers!
How are tokenized assets conflicting with existing regulation and business paradigms.
- Description of DAOs.
- Decentralized finance versus traditional finance.
- SEC and CFTC 2021 actions overview.
- Hypothetical Application of Howey test to certain types of tokens.
- Can lawyers breach ethical requirements by owning security tokens?
Date: June 23, 2022
Zachary Golda | Sheppard Mullin
Zachary Golda is an associate in the Business Trial Practice Group in the Orange County office.
Zachary’s practice focuses on general business litigation, including breach of contract, business torts, insurance, sports, and other high-stakes business litigation matters. He helps clients reach successful outcomes, including favorable settlements and dismissal of cases prior to discovery. For example, while defending an insurance carrier and its parent company from an institutional bad faith claim, Zachary helped draft a successful motion to dismiss removing the parent from the case.
Zachary also advises clients on responding to and challenging state and local orders, including orders related to COVID-19. Recently, Zachary advised a food and beverage producer on responding to a local health officer’s orders imposing extreme containment measures. Zachary created a tactical and realistic response plan approved by local authorities, relieving his client from the orders. Also, he maintains an active pro bono practice. Currently, Zachary represents a non-profit organization in litigation against a city’s attempt to shut the organization down through local zoning regulations.
I. Brief Overview of Existing Blockchain Technologies | 2:00pm – 2:15pm
II. Deep Dive: What Are Tokens and Why Do They Matter | 2:15pm – 2:30pm
III. Tokenized Assets in Use Today | 2:30pm – 2:45pm
IV. Smart Contracts | 2:45pm – 3:00pm
Break | 3:00pm – 3:10pm
V. DAOs (Decentralized Autonomous Organizations) | 3:10pm – 3:25pm
VI. SEC and CFTC Enforcement of Crypto Assets | 3:25pm -3:50pm
VII. Need for Specialized Regulators and Dispute Resolution Mechanisms | 3:50pm – 4:10pm