This is our twelfth monthly bulletin for 2021, aiming to help companies identify important and significant legal developments governing the use and acceptance of blockchain technology, smart contracts and digital assets.
While the use cases for blockchain technology are vast, this bulletin will be primarily on the use of blockchain and or smart contracts in the financial services sector. With respect to digital assets, we have organized our approach to this topic by discussing it in terms of traditional asset type or function (although the types and functions may overlap), that is, digital assets as:
- Virtual currencies
- Deposits, accounts, intangibles
- Negotiable instruments
- Electronic chattel paper
- Digitized assets
In addition to reporting on the law and regulation governing blockchain, smart contracts and digital assets, this bulletin will discuss the legal developments supporting the infrastructure and ecosystems that enable the use and acceptance of these new technologies.
Google files groundbreaking civil suit to disrupt massive botnet with blockchain backup system
Google has filed a groundbreaking civil suit this week against two Russian hackers who allegedly control the massive Glupteba botnet, which utilizes a blockchain backup mechanism and which has infected more than 1 million Windows computers worldwide. The action illustrates how private entities are increasingly taking legal and technical actions without the aid of law…