Due to the growing obsession with decentralized finance (“DeFi”) and tighter governmental regulation over cryptocurrency products, Decentralized Autonomous Organizations (“DAOs”) have emerged as a novel attraction. (Joon Kim & Daniel Forester, Bloomberg Law; Cathy Hackl, Forbes). DAOs are run autonomously and give individuals a safe and effective way to work with like-minded people around the world. (Cathy Hackl, Forbes; Ethereum). A DAO’s control and governance functions are distributed horizontally across its members, which eliminates the need for a central authority and thus makes them attractive to DeFi enthusiasts. . .
Read MoreSeventy percent of American consumers in 2021 want their favorite companies to make a positive social and environmental impact. (Business Wire). A willingness to socially and environmentally improve society is therefore more than good ethics—it is good business. Beyond consumer sales, many companies raise capital by attracting investments based on their environmental, social, and governance efforts (“ESG”). (James Chen, Investopedia). ESG investing criteria represent the broad non-financial factors investors increasingly apply to their analysis of potential investments. (CFA Institute). Although traditionally ESG standards are not a formal part of financial reporting requirements, ESG is rapidly becoming a commonly recognized investment metric. . .
Read MoreBitcoin has certainly become all the rage in the past few years. Its price captures the world’s attention, whether it rockets upwards or plummets downwards.
But now that Bitcoin’s price has been hovering around $60,000 between April 10 and April 18, 2021—higher than ever before—legendary investor Ray Dalio predicts that the United States government will likely ban the cryptocurrency. (Billy Bambrough, Forbes). He claims that no country, including the U.S., wants to compete with another currency for monetary hegemony. Id. A quick dive into the history and law surrounding Bitcoin and American currency itself will help clear up Mr. Dalio’s surprising claim…
Read MoreCOVID-19 ushered in a period of economic uncertainty. Stimulus, liquidity, and mounting debt have fueled inflation and in turn, the rise of cryptocurrency. (Julia La Roche, Yahoo Finance). Companies have been looking for alternatives to traditional securities in order to build and sustain their wealth during the period of economic uncertainty caused by COVID-19. Id. On February 8th Tesla, Inc. (“Tesla”) purchased a $1.5 billion stake in Bitcoin—a popular cryptocurrency. (Sam Shead, CNBC). On April 13, a single bitcoin was valued at approximately $65,000. (Omkar Godbole, CoinDesk). However, even with Bitcoin’s rising popularity, billionaire and manager of Bridgewater Associates, Ray Dalio recently predicted that the use of cryptocurrency will be prohibited in the United States in the coming months, citing the Gold Reserve Act of 1934. (Billy Bambrough, Forbes)…
Read MoreBitcoin and other cryptocurrencies have increased in popularity since Bitcoin was released in 2009, yet the cryptocurrency market remains unpredictable and volatile. Apps like Robinhood and influential people like Elon Musk have sky-rocketed the accessibility and demand for cryptocurrency in recent months. (Browne, CNBC). In a swing that paralleled the GameStop buying frenzy, a cryptocurrency called “Dogecoin” spiked as much as 800% in a single day. (Id.). Following the influx of Dogecoin buyers, Robinhood temporarily halted instant buying power for crypto to restrict trading. (Id.). Robinhood’s decision to restrict trading was contentious, but the decision exposed a major regulatory gap in both the public and private sectors of cryptocurrency trading.
Read MoreDue to the usage of mobile payment systems increasing, there is a need for increased regulation to prevent anti-competitive behavior. Throughout history, consumers have relied on some form of payment system to purchase the goods or services they want or need. From bartering to mobile payment platforms, there is one consistent theme regarding the evolution of payments, that consumers prefer convenience. Generally, mobile payments are defined as the use of a mobile device – commonly, but not exclusively, a smartphone or tablet computer – to initiate a transfer of funds to people or businesses. (Jeffrey M. Kopchik, FDIC). The use of mobile payments continues to rise globally as consumers are increasingly capable of purchasing goods and services with apps such as Apple Pay, Google Wallet, PayPal, and more. United States (“U.S.”) mobile sales are expected to grow from roughly 40 percent of e-commerce this year to 53.9 percent in 2021. (J. Clement, Statista). As use continues to grow, regulators must make a choice as to whether to actively regulate the use of mobile payments to increase competition for the benefit of consumers or allow the free market to reign.
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