Insights

Blockchain Bites: US reintroduce new crypto tax bill, Australia misses out on global CBDC working group, RBA experiments on private ethereum network, online decentralised court ready for launch

US Congress have reintroduced the “Virtual Currency Tax Fairness Act of 2020”, the Bank for International Settlements has announced that a working group of central banks has been formed to assess use cases for central bank digital currency without the Reserve Bank of Australia, Aragon has begun onboarding jurors for its decentralized Aragon Court. Michael Bacina, Tom Skevington and Petros Xenos of the Piper Alderman Blockchain Group bring you the latest legal, regulatory and project updates in Blockchain and crypto.

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Blockchain Bites: US Treasury trial blockchain, AMLD5 comes into effect in EU, NBA Star takes second shot at tokenizing his contract, Bitcoin institutional demand skyrockets

The US Treasury Department is concluding a series of tests of a blockchain-based platform, the 5th Anti-Money Laundering Directive (AMLD5) is now in effect, the Reserve Bank of Australia weighs in on Blockchain and the activity of the CME bitcoin futures contract has increased significantly throughout 2019. Michael Bacina, Tom Skevington and Petros Xenos of the Piper Alderman Blockchain Group bring you the latest legal, regulatory and project updates in Blockchain.

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A new era of ‘Appropriate’ Dispute Resolution (ADR)

The United Nations Convention on International Settlement Agreements Resulting from mediation (Singapore Convention) has been characterised by the Chief Justice of Singapore as a catalyst for viewing ADR as “appropriate dispute resolution”.[1] This fills a void within the international legal system by simplifying the process of enforcing cross-border mediation settlements. The Singapore Convention operates under a dualist model and is a vehicle that fosters certainty and enables parties to utilise mediation in circumstances where the most desirable outcomes can be achieved.

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Blockchain Bites: Blockchain Community Rallies to support Bushfire Fundraising, RBA continues to research CBDC, Qatar quashes crypto, SEC files emergency motion as Telegram dispute heats up

The Australian Blockchain Community rally around supporting those affected by the recent fires, the Reserve Bank of Australia announces continued research into digital currencies, Qatar are banning all services involving cryptocurrencies, the SEC file an emergency motion in the Telegram case and China continues to evolve guidelines for blockchain patent applications. Michael Bacina, Tom Skevington and Petros Xenos of the Piper Alderman Blockchain Group bring you the latest legal, regulatory and project updates in Blockchain.

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Blockchain Bites: Chinese courts using blockchain, South Africa enact crypto capital controls, France approve first ICO

China’s smart courts are applying innovative technologies including blockchain and artificial intelligence to decide on millions of legal cases, the Reserve Bank of South Africa is introducing new regulations regarding how people hold cryptocurrency, and France’s financial regulator, the Autorité des Marchés Financial has approved the country’s first application for an initial coin offering. Michael Bacina, Louisa Xu, Tom Skevington and Petros Xenos of the Piper Alderman Blockchain group bring you the latest legal, regulatory and project updates in Blockchain.

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Superannuation death benefits – review succession plans

Regardless of the size of your superannuation benefits, it is vital that you sort out your estate plans to ensure that you have a well prepared estate plan so that the right assets go to the right beneficiaries.  You need to make sure that you get holistic estate planning advice and have arrangements in place to review your estate plans regularly. Estate plans are not to be set and forgotten.

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Blockchain Bites: IRS deploys new crypto tax form, China ramps up blockchain integration, Ukraine approve new crypto AML policy

The U.S. Internal Revenue Service (IRS) has deployed a new tax form requiring users to declare any dealings with cryptocurrency, the Bank of China has issued $2.8 billion worth of bonds using blockchain technology, and the Ukranian government has approved the final version of a money laundering law that will handle virtual assets and VASPs. Michael Bacina, Louisa Xu, Tom Skevington and Petros Xenos of the Piper Alderman Blockchain group bring you the latest legal, regulatory and project updates in Blockchain.

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