Discover and read the best of Twitter Threads about #digitalsecurities

Most recents (4)

1/ HEY CRYPTO LAWYERS--@AndreaTinianow analyzes #Wyoming's commercial law for #blockchain assets & wrote a definitive guide to it for blockchain lawyers. She also compares it to @uniformlaws proposed Supplemental Act & favors WY's approach. @ForbesCrypto forbes.com/sites/andreati…
2/ Best quote: "As the founding director of the #Delaware Blockchain Initiative, I cannot stay silent about a law (the @uniformlaws Supplemental Act) that would extinguish the power of #blockchain technology to clean up problems in capital markets." So much here--will post more
3/ .@AndreaTinianow explains how #Wyoming confers "super-negotiability" to digital assets. She calls super-negotiability the "holy-grail" of commercial law (called the #UCC). I'd worked w/ Andrea before but hadn't realized she's a UCC expert from her prior work in #Delaware--wish
Read 13 tweets
1/ IMPORTANT-I'd stayed quiet abt this until now. The below letter was just publicly released by the #Wyoming #Blockchain Task Force. It responds to 2 letters the Uniform Law Commission sent to WY “strongly urging” it to withdraw its v impt... #blockchain wyoleg.gov/InterimCommitt…
2/ bill, SF125, which is now law. I’m bringing attention to WY's response bc it addresses a debate that should be in the open, plus it should make clear #Wyoming is seriously willing to go to bat to attract #blockchain tech to the state AND defend a strong & basic principle—that
3/ laws should recognize property rights for INDIVIDUALS who own financial assets. We shouldn’t have to own them thru an intermediary in order to gain the best legal protections. The Task Force letter responded to letters dated Jan 29 & Feb 6 sent by the Uniform Law Commission to
Read 24 tweets
1/ BOOM! #Wyoming just recognized clear, direct property rights for #digitalassets by passing SF125! This means #blockchain cos will prob want to apply WY law to your contracts, domicile here, &/or have a physical presence here. Thx again to the army of ppl who helped over months
2/ As @TraceMayer says, v impt for broad adoption of #crypto that it be “backwards-compatible w/ law.” SF125 enables that. Bill was amended w/ improvements & latest is here: wyoleg.gov/Legislation/20…. Goes to @GordonGovernor for signature & could officially become law next week
3/ I'll publish analysis after it officially becomes law, but here's the key: #Wyoming law recognizes property rights in the DIRECT ownership of #digitalassets. Property law in US is determined by states, not the feds. WY not only did it first but did it right!! This applies to
Read 11 tweets
1/ Hype: Security tokens (#stos) reduce issuance costs vs. traditional private placement.

Reality: In 2019 issuing a security token costs as much if not more than a traditional private placement

In time & over the life of the ST this may prove true (still tbd)
2/ Hype: #STo reduce administrative friction

Reality: In 2019, ST issuance will add more legal & reg hurdles + new third parties to manage tech, investors, & custody

In time: Yes #sto will add automated compliance, disclosures & dividends + coded transfer restrictions
Read 8 tweets

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