A starfish is an organism without a head. So is a DAO. We dive into the regulation of decentralised autonomous organisations, including the recently enacted DAO law in Wyoming. A starfish is an organism without a head. So is a DAO. We’re not saying a DAO is a starfish. Okay, we’ll begin again. A new law[i] came intoRead more
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Last time, we gave you a good rundown of what you could expect from NFTs, as the fledgling tech vacillates between price speculation and progress. You’ve probably read enough about NFTs to know what they are – paintings, 3D images, videos, short clips, or just about anything that can have a digital identity. From our previousRead more
In a ground-breaking move, the UK has introduced new arbitration rules designed to resolve commercial disputes involving novel technologies like smart contracts, cryptoassets and distributed ledger technology. In this piece, we discuss some of the cutting edge features of the new rules and the importance of a dispute resolution mechanism for digital technologies. In a pioneering move,Read more
Nigeria has earned itself the title of Africa’s bitcoin nation. An unstable Naira contributes to the popularity of the cryptocurrency. But Nigeria’s central bank remains critical of bitcoin. Bitcoin, the leading cryptocurrency, has seen its value balloon by more than 100% year-to-date, soaring to an all-time high of more than USD 60,000. Nigerians, many of whom are battling poverty,Read more
We’re not going to talk about what NFTs are – there are enough and more by way of explainer pieces discussing the shiny new tokens, and drawing you into the blockchain world. And while most of these are gushing about the new gold mine for you to chase, sizing up investment opportunities, and sounding likeRead more
Round-up of key law and policy developments relating to blockchain and cryptocurrency in 2020. 1. INTRODUCTION In June 2019, the Financial Action Task Force (‘FATF’) updated its standards of anti-money laundering (‘AML’) and combating the financing of terrorism (‘CFT’) measures to regulate virtual asset service providers (‘VASPs’) in its member countries. FATF recommended its members toRead more
In this note, we have discussed three categories of countries on the basis of their approach to regulating cryptocurrency- (a) countries that have legalized cryptocurrency by regulating it; (b) countries that have proposed to regulate it, and (c) countries that have banned cryptocurrency. We have discussed a few examples of countries for each category toRead more
This blogpost explains why cryptocurrencies and blockchain are the next big thing in the global technology revolution, and why India must become a part of this revolution. This is especially important in light of the proposed ban on cryptocurrency in India, which could exclude India from the exciting developments taking place around blockchain and cryptocurrency.Read more
This blogpost addresses a number of frequently asked questions around cryptocurrency and blockchain technology. It addresses some key issues such as blockchain existing in the absence of cryptocurrency, the government’s concerns on cryptocurrency and how they can be addressed, and what a ban on cryptocurrency will lead to. This blogpost explains all these issues andRead more
In January 2021, the Ministry of Electronics and Information Technology released a draft National Strategy on Blockchain. The draft strategy identifies the potential for adoption of blockchain in India and envisages creation of a ‘National Level Blockchain Framework’. This blogpost highlights a representation submitted by Ikigai Law as a response to the draft strategy. InRead more