Cryptocurrency and the law
What will the episode cover? Cryptocurrency is always in the headlines, and consumer use of it is becoming increasingly mainstream. But the law is yet to grapple extensively with cryptocurrency and the blockchain technology that underpins it. This seminar aims to provide a basic introduction to what cryptocurrencies are and how they work, and to tentatively explore some of the key legal issues that arise in respect of them. It will introduce Key concepts like blockchain technology, cryptography, public/private keys, decentralisation, proof-of-work and proof-of-stake mining, exchanges, and ‘smart contracts’ Various types of cryptocurrencies, including Bitcoin, Ethereum, Central Bank Digital Currencies, (so-called) ‘stable coins’ and NFTs The legal issues considered will include Regulation of cryptocurrency exchanges in Australia, KYC and money laundering issues Developing uses of cryptocurrencies for things like lending (decentralised finance or DeFi) and capital raising Who should listen? This session will interest advisory and litigation lawyers, in-house counsel and their clients, in particular those who deal with financial services, corporate law and regulation in Australia. PRESENTERS Michael May (Barrister, Level Twenty Seven Chambers) Michael has a broad commercial and administrative law practice, with a particular focus on competition, corporations, tax litigation, equity and trusts, insolvency, construction and infrastructure, class actions, professional negligence, estates and real property. He is listed in Chambers & Partners, Legal 500, AFR’s Best Lawyers® and Doyle’s Guide. Salwa Marsh (Barrister, Level Twenty Seven Chambers) Prior to being called to the Bar, Salwa was a Senior Lawyer at the Australian Government Solicitor where her practice focused on regulatory litigation and investigations, an Associate at White & Case (London), and a Lawyer at MinterEllison (Brisbane). As a public and commercial law barrister, Salwa’s expertise is in the areas of competition & consumer law, corporations law, administrative law and native title. MATERIALSThe video recording, PowerPoint and transcript for this seminar are available here.