Digital and Digitized Assets: Federal and State Jurisdictional Issues
Davis Polk partner Annette Nazareth and counsel Zachary Zweihorn co-authored the “Federal Securities Regulation: Securities Act and Exchange Act” section of the American Bar Association’s “Digital and Digitized Assets: Federal and State Jurisdictional Issues” white paper.
The white paper, prepared by the Jurisdiction Working Group of the American Bar Association Derivatives and Futures Law Committee’s Innovative Digital Products and Processes Subcommittee, summarizes the existing federal and state regulatory regimes governing digital assets in the United States, discusses the emerging issues that will affect digital asset markets and their participants, and outlines analogous efforts taken by international regulators and other national governments. Parts of the discussion are specific to a particular type of digital asset referred to as virtual currencies or cryptocurrencies, because they have received the most attention from U.S. and global regulators.