Since the advent of Bitcoin in 2009, myriad cryptocurrencies have arrived on the blockchain, appealing to bullish, future-minded financiers as a promising way to “get rich quick.” Yet, for every sound stablecoin, there are scores of scams and crypto tokens that go bust. Unfolding in an uncharted, unregulated virtual territory, crypto investments present murky territory for those seeking accountability. Legal precedents are being made regarding these digital tokens in real time.
Recently, the New York Law Journal published Quinn Emanuel partner Michael Liftik and associate Emily Kapur’s insightful piece, “Danger—Roadblocks Ahead: Lessons Learned From Early Crypto Token Securities Class Actions.” Liftik and Kapur outline key takeaways from recent crypto-securities suits, as plaintiffs are increasingly focused on pleading claims specifically to surmount challenges, and token developers and platforms are increasingly focused on reducing their ties to the United States. As the future of cryptocurrencies remains in flux, so does the law, which continues to evolve to meet the new, complicated issues they present in our borderless, digital world.
With permission from the New York Law Journal, our firm has republished my colleagues’ excellent and thorough piece. To learn more about the evolution of cryptocurrencies and the law today, you can read the entirety of their article on the QE site here.
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