Virtual Currencies: Blockchains in Finance Bitcoin, Ethereum and 900 Other Cybercurrencies


Re-Broadcast on May 29, 2018

CLE Credits earned: 2 GEN

We examine the quickly evolving laws and regulations governing the virtual currency space and the evolving culture among its many participants: miners, traders, exchanges, virtual currency marketers, analysts and advisors, virtual currency funds, programmers, lawyers and accountants. And governments as well.

Since the late 2008 publication of Satoshi Nakamoto’s “Bitcoin: A Peer-to-Peer Electronic Cash System”, the Bitcoin has become a world-wide phenomenon as a highly volatile version of electronic cash. It has inspired around 900 other bitcoin-like blockchains among the best known of which are Ethereum and Litecoin. Since early 2009, the law has been confronted with a whole new industry. We deal with regulation at the front end and also at the business end.

The front end is structuring businesses, particularly start-ups, and raising investment money through sales of stock in the company, IPO’s, Crowdfunding and ICOs. Then we deal with the product: issuing coins, and operating the business. In each area numerous laws must be dealt with: federal securities regulations such as SEC Reg CF (Reg. Crowdfunding), SEC Reg. A+, state securities regulation, and regulation of international distributions. Then there are questions of FinCEN Money Service Business registration, commodity futures regulation, and state regulation.

This course is co-sponsored by Wolters Kluwer.

Key topics to be discussed:

•   Money
•   Establishing the business
•   Operating the Business and Coin Offerings
•   Income Tax Aspects – What does the IRS ruling that Bitcoin is “property” mean?
•   Compliance with the laws of other countries
•   Legislation in the works – federal, state, and international

Date / Time: May 29, 2018

•  2:00 pm – 4:00 pm Eastern
•  1:00 pm – 3:00 pm Central
•  12:00 pm – 2:00 pm Mountain
•  11:00 am – 1:00 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 7 business days after the original recording date and are view-able for up to one year.

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Kenneth Greenberg, Esq. has a stellar track record managing a broad range of legal issues and is a problem solver with mastery in identifying technically correct and pragmatic solutions that support business goals and objectives.

Much of his experience lies in the realms of governance, risk management, and compliance. Mr. Greenberg has worked with both corporate investment bankers and commercial lenders, and has managed the legal process for more than 50 mergers and acquisitions transactions. In the area of contracts and commercial law, he drafts, negotiates, and reviews contractual agreements of all kinds.

In the compliance arena, Mr. Greenberg has acted as an advisor on compliance with state laws in more than 20 jurisdictions, and effectively engages in licensing discussions and negotiations with state regulatory agencies. He keeps his finger on the pulse of proposed legislation and regulations, and provides practical recommendations to clients regarding how to prepare for a changing regulatory landscape.

Mr. Greenberg has also managed both in-house attorneys and outside counsel in complex litigation matters.

Beginning his career at Dewey, Ballantine, Bushby, Palmer & Wood, Mr. Greenberg later became a director at Price Waterhouse. He was, or is, a vice president and general counsel at both EQ Corporation, and Fair Market Life Settlements Corporation, and general counsel to the production company for Wonderama.

Mr. Greenberg received his Bachelor of Arts in Economics from Cornell University, and his Juris Doctor degree from the Boston University School of Law.

Mr. Greenberg is a member of the New York and Connecticut State Bars.

Martin Mushkin, Esq. concentrates his practice on business litigation, corporate transactions with particular emphasis on cybercurrency. The core of his practice is corporate finance.

On the corporate side, Mr. Mushkin’s practice covers: the type of company to organize for a particular business, particularly cybercurrency enterprises, raising money for the company and the type of shares or debt securities it should issue, the work-a-day problems of running a company with particular attention to intellectual property rights, labor issues, and the litigation with which companies must deal. Many of his clients are headquartered overseas, as well as in the U.S. He has been counsel to numerous companies: private, going public, and public, being acquired or acquiring other companies. These companies have been in a wide variety of industries. He was a founding stockholder and first general counsel of Gartner, Inc.

Mr. Mushkin has litigated many Financial Industry Regulatory Authority (FINRA) arbitrations and is a member of the FINRA chairmen’s panel. He has been co-lead counsel in class actions, and has represented shareholders enforcing their rights in both public and private companies. He has represented parties to construction disputes, insider trading matters, SEC investigations, partnership and LLC operating agreement issues, and collection practice on multimillion-dollar judgments. He is a mediator for the U.S. District Court for the Southern District of New York.

Mr. Mushkin has been the co-chairman of a Practicing Law Institute Course on Accountant’s Liability; Law and Litigation; a member of the Special Committee of the Bar Association of the City of New York on the Lawyer’s Role in Securities Transactions, co-author of an AICPA course, Handbook on Accountant’s Liability, and is a past secretary/director of the Connecticut Venture Group. He was the chairman of the Sub-Committee on Technology of the ABA Committee on Developments in Investment Services from 1983 to 1987. He was a director designate of Connecticut Innovations, Inc., the state venture capital fund.

Mr. Mushkin participated for several years in the Congressionally-mandated SEC-SBA-sponsored Government-Business Forum on Small Business Capital Formation. He is a member of the New York and Connecticut Bars and attendant federal courts. He has been admitted on specific cases in approximately 18 U.S. federal and state jurisdictions.

Mr. Mushkin received his B.B.A. degree from the University of Wisconsin with a major in accounting, and his J.D. degree from Harvard Law School. He served as a Judge Advocate General officer in the U.S. Air Force before entering civilian practice. He was a Senior Trial Attorney with the Securities and Exchange Commission. He has an A-V rating from Martindale-Hubbell, the oldest and largest attorney rating service in the United States. This is the highest rating that they award.

Mr. Mushkin was the co-publisher and editor of The American/Overseas Investor, a newsletter covering U.S. regulation of international securities transactions, co-author of “Exiting Through the Public Market,” 1981 – 2000 and “Negotiating a Merger of Your Portfolio Company,” 1984 – 2002, both published by the National Venture Capital Association. Several of his more recent articles appear on this website.

Mr. Mushkin has been an expeditionary mountaineer, having made four first ascents and a significant second ascent in Alaska. He is a member of the American Alpine Club.

Mr. Mushkin is a member of the Greenwich Connecticut Town Democratic Committee.

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Section I. Money

Section II. Establishing the business

Section III. Operating the Business and Coin Offerings

Section IV. Income Tax Aspects – What does the IRS ruling that Bitcoin is “property” mean?

Section V. Compliance with the laws of other countries

Section VI. Legislation in the works – federal, state, and international