For the Uninitiated: Digital Assets Download is a curated mix of insights and headlines that provide a Layer 3 Legal Perspective™ on the digital assets multiverse—created by Mayer Brown’s global Digital Assets, Blockchain & Cryptocurrency group. (Check out all of our previous editions of the Digital Assets Download)
The Lead Block
News Node
‘Approval Is Inevitable’—SEC Insider Primes Crypto Market for $15 Trillion Bitcoin, Ethereum and XRP Price ETF Game-Changer
Visa Taps Solana and USDC Stablecoin to Boost Cross-Border Payments
Giving Fans a Voice: How Blockchain Technology Is Powering a Fan-Owned SailGP Team
FSB, IMF to Deliver Roadmap for Global Crypto Policy at G20 Summit
Finance Firms’ BTC ETF Application Decisions All Delayed by SEC
Social Media Company Has Licenses in Multiple US States to Process Payments Including Crypto
Coinbase (COIN) Launches Crypto Lending Program for Institutional Investors
Half of the People in Turkey Now Own Crypto: Report
South Korean Crypto Exchanges Prepare for Tightened Reserves Requirements
US Tackles Crypto Tax Mess
Financial Services Corporation Expands Stablecoin Settlement Capabilities to Merchant Acquirers
Financial Services Corporation’s Crypto Stablecoin Settlement Expands to Solana
Lufthansa Airline Launches NFT Loyalty Program on Polygon
Speech: Shaping Europe’s Digital Future: The Path Towards a Digital Euro
Grayscale's Legal Win Versus SEC Makes Spot Bitcoin ETF Approval More Likely
Swift, Chainlink Tokenization Experiment Successfully Transfers Value Across Multiple Blockchains
US Treasury Proposes Crypto Reporting Rule to ‘Close the Tax Gap.’ What It Means for Investors
Select Events
Selected events for deeper dives into different parts of the digital assets and DeFi world.
US Commodity Futures Trading Commission – “Commissioner Goldsmith Romero to Speak at the Federal Reserve Board of Philadelphia’s Fintech Conference”
Commodity Futures Trading Commission Commissioner Goldsmith Romero will speak on potential approaches to fintech regulation at the Federal Reserve Board of Philadelphia’s Fintech Conference on Friday, September 8, 2023.
Hearing: ‘Digital Dollar Dilemma: The Implications of a Central Bank Digital Currency and Private Sector Alternatives’
In the U.S. House of Representatives, the Financial Services Committee’s Subcommittee on Digital Assets, Financial Technology and Inclusion is holding a hearing on Thursday, September 14, 2023.
"Securities Offering and Private Placement Developments: A Prolific, Controversial Year of Rulemaking" at the Alternative Finance Summit 2023
On Tuesday, September 26, 2023, Mayer Brown partner, Anna Pinedo, will speak at the Alternative Finance Summit 2023: Fintech, Blockchain, and Crowdfunding at PLI New York in New York City. Her panel, “Securities Offering and Private Placement Developments: A Prolific, Controversial Year of Rulemaking,” will discuss topics including SEC strategy on blockchain issues and SEC crypto enforcement lawyer staffing up. For more information, please visit the summit website.
Learn the Lingo
Liquidity Pool
Liquidity pools use automated blockchain technology to enable users to exchange digital assets without relying on centralized entities.
In a liquidity pool, liquidity providers lock an amount of one or more crypto assets in a smart contract that holds the assets. Other users who want to swap between different crypto assets that are in the liquidity pool can do so by depositing an amount of one crypto asset and receiving an equivalent amount of another crypto asset.
The users that are swapping their crypto assets pay a small fee for using the liquidity pool, and this fee is distributed among the liquidity providers to incentivize them for the service they provide. Generally, the fees earned by liquidity providers are proportional to the amount of liquidity they provide to the pool.
Writing on the Wall, Translating ‘Crypto’ Terms with Mayer Brown
From Airdrop to Wrapped Token, our illustrated glossary, “Writing on the Wall, Translating Securities with Mayer Brown,” has been updated with additional digital assets and cryptocurrency terms. Check out our “featured” list for the crypto terms and the full list of terms.
