From the Electronic Payments and Financial Services Subcommittee
Stephen T. Middlebrook and Sarah Jane Hughes
While in DC, The Electronic Payments and Financial Services Subcommittee will meet to discuss recent developments in several areas:
- Congressional Hearings on Facebook’s Libra
- Litigation over how to classify cryptocurrency purchases on credit cards– Chase and State Farm cases
- FATF Issues Guidance on Virtual Assets
- FinCEN Issues Additional Guidance on Virtual Currencies and Money Transmission
- FinCEN Takes Action Against a Peer-to-Peer Virtual Currency Exchange
- NY AG Investigates Cryptocurrency Exchange Bitfinex and Related Stablecoin Tether
- NYC Bar Ethics Opinion on receiving payment for legal services in cryptocurrency (Rule 1.8)
Also, a reminder that we are sponsoring a CLE panel in Washington:
Legal Issues Associated with Wages-on-Demand Products
Friday, September 13, 2:00-3:00 pm
Description: “Wages-on-Demand” products enable employees to get paid for the hours they have worked without regard for scheduled paydays. The panel will explain how these services work and address whether these payments are loans or wages, are legally permissible, and what requirements are placed on wages-on-demand services under state law.
- Alicia W. Reid, U.S. Bank
- Abbie Gruwell, National Conference of State Legislatures
- Stephen T. Middlebrook, Womble Bond Dickinson
From the Non-U.S. Cyber Regulations Subcommittee
David Flint and Ed Morse
At the forthcoming Annual Meeting in Washington, the Non-US Cyber Regulations subcommittee will meet at 1pm on Thursday, February 12. We will review and discuss developments outside the US that could have an effect on US tech and internet companies.
These developments will include the increasing Balkanization of the Internet with national governments putting in place rules to “protect” their nationals, including:
- The new Russian legislation promoted by Roskomnadzor to require local DNS routing for users in Russia, with the ability to “cut off” the internet;
- The “Great Firewall of China”;
- Kazakh legislation requiring all local ISPs to install a new Certificate in all computers connected to the ISP which would allow Man-in-the-Middle attacks to enable surveillance of all encrypted traffic;
- New EU Rules on ISP liability for copyright infringement (a great program will look at this in Washington – 10:30 on Friday 13th);
- UK legislation requiring publishers of “adult” sites to ensure that all users have gone through an age verification system before granting access;
- GDPR and similar legislation leading to content walls;
- And many other exciting topics!
It is an ongoing situation and we will have lots to discuss, so come along and share your thoughts and insights.
We are also sponsoring the following CLE panel:
Your Web Content and Diverging Rules in EU and US on ISP Liability for Copyright Infringement
Friday, September 13, 10:30 – 11:30 am
Description: This program will look at new EU Copyright Directive, which presents compliance challenges, including controversial rules in Articles 15 and 17 requiring websites to restrict copyright materials as a condition for immunity from infringement liability. We will cover implications of the Directive, including comparisons to US law involving fair use and section 230 immunity.
- Anupam Chander, Professor of Law, Georgetown University Law Center
- Corynne McSherry, Legal Director at the Electronic Frontier Foundation
- David Flint, Visiting Professor at Creighton University School of Law, and Commercial Law Consultant at Inksters, Glasgow, Scotland