Digital Assets Law

Blockchain attorney Dr. Nick Oberheiden

Attorney Nick Oberheiden
Digital Assets Law Team Lead
Blockchain attorney Alina Veneziano

Attorney Alina Veneziano
Digital Assets Law Team Lead

Hire a Digital Asset Law Firm

If you need any advice on digital asset projects, talk to experienced digital asset attorneys. Businesses that need to take advantage of blockchain technology to store assets or those that need digital asset IP help are exposed to risks that can only be assessed and dealt with by seasoned digital asset lawyers.

While digital assets present many opportunities to companies and individuals, failure to take specific asset protection measures can cause infringements and other problems.

At Blockchain Lawyer, we have a digital asset attorney team with knowledge and experience in laws and regulations on digital assets and the best IP protection options.

Don’t take advantage of blockchain technology or digital assets without understanding your compliance obligations, IP protection, and related matters.

Definition: Digital Assets

The term “digital asset" encompasses anything of value that you own and is stored digitally. The definition includes digital property that can be created using computers, phones, voice recorders, etc., and stored digitally. While some digital assets like NFTs are stored on the blockchain, other digital assets are stored in internet servers, USB drives, network servers, computers, etc.

How to Protect Digital Assets

Digital assets are usually protected using patents, trademark, copyright, and trade secrets. Even if your digital assets are stored on blockchain, they also need to be safeguarded. Digital assets like digital IP also need protection. Some of the digital assets that individuals and businesses should protect include, but aren’t limited to: websites, website graphics, logos, social media accounts, drawings, audio files, client lists, images, videos, customer details, and computer software.

Talk to a seasoned digital assets attorney if you need to protect any of the above digital assets or more.

Regulation on Digital Assets

Currently, there’s no comprehensive or uniform legislation on digital assets. Many policymakers globally are calling for new regulations on digital assets. However, some think regulation would hinder growth in the digital assets space.

Federal agencies in the US are relying on already-existing statutes when trying to regulate the digital assets industry. What’s more, federal agencies are issuing statements and guidance on pressing matters affecting digital assets.

The federal agencies and departments offering guidance on digital assets include: the SEC (Securities & Exchange Commission), FBI, DOJ, IRS (Internal Revenue Service), CFTC (Commodities Futures Trading Commission) and FinCEN (Financial Crimes Enforcement Network), among others like the FDIC, CFTC, OCC, and CFPB.

However, the SEC is the most prominent regulator on digital asset matters. The agency is also aggressive in pursuing individuals and entities that use digital assets to commit fraud, among other illegal activities. The SEC is particularly focused on charging parties involved in unregistered security offers/sales that include “digital asset securities."

Are Digital Assets Securities?

When the SEC is assessing digital asset compliance, it focuses on whether the asset in question meets the agency’s definition of “securities."

The SEC has a special test, the Howey Test, that is applied to all potential digital assets. The test is explained conclusively in the SEC’s 2019 framework on Investment Contract Analysis on Digital Assets.

The Howey Test assesses whether the digital asset in question (coin, token, etc.) meets the investment contract definition as per federal securities laws. If not, the digital asset can’t be regulated like a security.

Investment contracts generally involve an investment (a purchaser or investor giving money or forms of money like cryptocurrency, fiat currency, etc.) in common enterprise (pooling of funds) with expectation of profiting. The profit is also linked solely to other people’s efforts. If any of these prongs aren’t met, the digital asset in question isn’t a security and doesn’t, therefore, need SEC registration.

The Howey Test is fact-sensitive and dependent on the circumstances of the underlying digital asset project in question, circumstances of the offering and sale, as well as marketing strategies used.

Attorneys specialized in applying Howey Test on digital assets are best suited to analyze the facts unique to your case. Contact us today to claim your free confidential consultation on digital assets.

Legal Advice on Digital Asset Regulation

You may be looking to discover the regulations that apply to your specific digital asset project or to assess whether your digital asset satisfies the SEC’s legal definition of securities. If so, you are bound to benefit greatly from the expertise of a seasoned digital asset lawyer.

At Blockchain Lawyer, we have a team of dedicated digital assets attorneys who know how, when, and what federal regulations impact digital asset projects.

Don’t attempt to launch a digital asset project or take significant steps in digital asset development before you talk to an experienced digital asset attorney.

Call us today. Claim your free and confidential digital asset consultation.