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From Paper to Blockchain: How Tokenized Collateral Could Transform Finance
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July 1, 2026
From Paper to Blockchain: How Tokenized Collateral Could Transform Finance
By: John Mikuta
Our financial system is on the verge of a groundbreaking transformation that could rival the shift from film to digital photography. Just as smartphones made it instantaneous to capture and share pictures, blockchain-based tokenization of traditional assets could make financial transactions just as seamless. Even though we are now over a quarter of the way through the 21st century, today’s financial infrastructure hasn’t caught up with the times. Our financial system still revolves around antiquated 19th- and 20th-century practices, such as paper records and batch processing. Settlement cycles often take days, which can lead to operational delays and counterparty risk. Tokenization changes this. By representing real-world assets as tokens on a digital blockchain, collateral can move and settle in real…
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Ready, Set, Go: More States Adopt Privacy Laws
June 17, 2026
Ready, Set, Go: More States Adopt Privacy Laws
By: Nicole Kardell
Note the below chart was updated on June 17, 2026 to reflect recent developments. The number of U.S. states that have adopted privacy laws grows regularly. Fortunately, there seems to be quite a bit of crossover, at least when it comes to thresholds that companies must meet in order to trigger compliance requirements. We provide below a chart that summarizes these thresholds by state, including…
I Predict the FTC and Class Action Plaintiffs May Have a Problem with Prediction Market Influencers
June 11, 2026
I Predict the FTC and Class Action Plaintiffs May Have a Problem with Prediction Market Influencers
By: Michelle Cohen
Prediction markets are the hottest topic in gaming right now. Industry leaders Kalshi and Polymarket have provided substantial fodder for debates at the summer gaming conferences, in the gaming trade press, and in mainstream media. Most of that discussion focuses on state versus federal regulation, an issue that the U.S. Supreme Court will likely need to resolve. In the interim, as they promote their platforms…
SEC’s Lawsuit Against Telegram Raises Questions About Cryptocurrency “Presales” Under Regulation D
October 17, 2019
SEC’s Lawsuit Against Telegram Raises Questions About Cryptocurrency “Presales” Under Regulation D
By: Ifrah Law
On October 11, 2019, the Securities and Exchange Commission (“SEC”) filed a lawsuit against Telegram Group, Inc. and TON Issuer, Inc. (“Telegram”), and simultaneously obtained a temporary restraining order preventing Telegram from issuing its “Gram” cryptocurrency, which had been scheduled for delivery on October 31, 2019. The SEC claimed that the sale of Grams amount to an unregistered securities offering in violation of federal securities…
You Got Loot? FTC Examines In-Game Purchases
August 8, 2019
You Got Loot? FTC Examines In-Game Purchases
By: Ifrah Law
The FTC held three panels on Wednesday, August 7, 2019, that centered on one topic: loot boxes earned or purchased during online game play. It’s clear from the selection of panelists and the questions posed by FTC staff that the FTC is on high alert about potential consumer protection issues surrounding these in-game purchases. If the name of the game (pardon the pun) on Wednesday…
SEC Says “Pocketful of Quarters’” Planned Token Is Not a “Pocketful of Securities”
August 1, 2019
SEC Says “Pocketful of Quarters’” Planned Token Is Not a “Pocketful of Securities”
By: Ifrah Law
On July 25, the Securities and Exchange Commission’s (SEC) Division of Corporation Finance issued a letter to Pocketful of Quarters, Inc. (PoQ), informing PoQ that it would not recommend enforcement action in regards to PoQ’s proposal to sell tokens (called Quarters) on its gaming platform. The SEC informed PoQ that based on PoQ’s description of its plans for the Quarters tokens, the tokens would not…
Equifax Settlement Teaches The Dos and Dont’s About Data Security
July 22, 2019
Equifax Settlement Teaches The Dos and Dont’s About Data Security
By: Nicole Kardell
It’s been a busy summer for the FTC and the federal agency is dominating the headlines. There is the $5 billion settlement with Facebook for failing to better protect user privacy, which was announced earlier this month. Then there is the multimillion dollar settlement with Google for failing to adequately protect children’s privacy. That was announced late last week. Today, the FTC announced a $575…
Ability to Revoke TCPA Consent Limited When Consent Was Provided Via Contract
April 3, 2019
Ability to Revoke TCPA Consent Limited When Consent Was Provided Via Contract
By: Ifrah Law
Although the Telephone Consumer Protection Act (“TCPA”) limits the ways in which companies may contact individuals via automated dialers, with prerecorded messages, or via text message, one of its hallmarks is that companies are entitled to contact consumers who have provided their express consent to be called. However, in 2015, the Federal Communications Commission (“FCC”) stated that individuals who previously consented to be contacted may…
