Description: Our Blockchain Legal Resource Blog features opinions and legal analysis as we follow the development and use of blockchain. Hunton Andrews Kurth provides information and commentary on how this technology will transform business practice and educate our readers on how best to incorporation of blockchain into critical business processes.
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Analysis and Insight in Blockchain Law
As reported in a Hunton Client Alert last week, on June 6, 2023, the Federal Deposit Insurance Corporation (“FDIC”), the Board of Governors of the Federal Reserve System (“FRB”) and the Office of the Comptroller of the Currency (“OCC”) (collectively, the “Agencies”) issued final guidance on managing risks associated with third-party relationships, including relationships with fintechs (the “Final Guidance”). 1 Effective as of the June 6, 2023 issuance date, the Final Guidance replaces each of the Agencie
On June 8, 2023, Judge William H. Orrick of the U.S. District Court for the Northern District of California granted a default judgment in favor of the CFTC against Ooki DAO, a cryptocurrency decentralized autonomous exchange. The court also permanently enjoined Ooki DAO from operating its website and awarded the CTFC $643,542 in monetary damages. The court found that Ooki DAO’s lack of participation in the litigation and refusal to appear in court contributed to the default judgment. This decision brings to
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