Cryptocurrency Regulations: Past, Present, and Future

Program Number: 2840

Program Date: 09/24/2018

Description

Since the publication of the Satoshi Whitepaper in 2009 which launched the Bitcoin protocol, cryptocurrencies have begun reshaped the financial world. For the first time in human history, people can remotely transfer value across international boundaries without the need for any financial intermediaries. These financial intermediaries, however, are increasingly relied upon by regulators to self-police and to detect and report on information necessary for key regulatory and law enforcement functions. Over the past 9 years, regulators across the globe have tried many strategies - ranging from hands-off approaches to outright bans - in order to address this new reality and its implications on existing anti-money laundering, securities, and other regulatory systems. Mr. Kelman provides background on the areas of regulation which most directly affect cryptocurrencies, how they have evolved during this period, and where they appear to be headed in the coming years. Mr. Kelman drafted the Online Market Protection Act (OMPA) of 2014 which sought to regulate cryptocurrencies only at the point of exchange into traditional financial markets and instruments, and advocates for a cautious regulatory approach centered around preventing and investigating fraud within the cryptocurrency ecosystem. He covers his approach along with his insights on how regulatory approaches have trended recently, projecting where they may be headed and providing advice to attorneys whose clients are or may become involved in the cryptocurrency space.

$95.00Audio CD Add to Cart $95.00Online Audio Add to Cart

Available in states

California, Colorado Eligible, Florida, Georgia, New Jersey Eligible, New York, New York - BOTH New and Experienced Attorneys, Texas Self Study

Credit Information

50 minute credit hour - 1.0 General CLE credit, based on a 50-minute credit hour
60 minute credit hour - 1.0 General CLE credit, based on a 60-minute credit hour

State Program Numbers

Credit Eligible for BOTH Experienced and New Attorneys in NY

Presenters


Zachary Kelman

Kelman PLLC

Zachary Kelman principal at Crypto.law (Kelman PLLC ), a law firm specializing in financial technology and cryptocurrency. He is formerly Head of Compliance & Legal at Coins.ph, a leading FinTech company in Southeast Asia. During his tenure, Coins.ph was a recipient of one of the first Virtual Currency Exchange licenses issued in the Philippines; the first such license in any jurisdiction. Mr. Kelman also provided advice to the Bangko Sentral Ng Philipinas (BSP) - the central bank of the Philippines - on designing regulations for initial coin offerings and designing an automatic clearing house system. Mr. Kelman is formerly the Chief Legal Officer and Director at Bitt, a Barbadian FinTech company. Prior to Bitt, he co-authored H.R. 5892; the "Online Market Protection Act of 2014" (OMPA) introduced to United States House of Representatives in January of 2015. He was an Enhanced Due Diligence Analyst at Commerzbank working on remediation projects involving Eastern European, African and South American customers, evaluating OFAC and other sanction risks. Zachary also worked as an Anti-Money Laundering Consultant at Morgan Stanley Global Wealth Management. Zachary earned a Bachelor of Science from the University of Michigan and obtained his JD at the Seton Hall University School of Law. He is also a member of the New York State Bar Association.

 

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