This periodic bulletin is designed to help companies identify important legal developments governing the use and acceptance of blockchain technology, smart contracts, and digital assets.
While the use cases for blockchain technology are vast, this bulletin focuses on uses of blockchain and smart contracts in the financial services sector. With respect to digital assets, we have organized our approach to this topic by discussing them in terms of traditional asset type or function (although the types and functions may overlap) – that is, digital assets as:
In addition to reporting on the law and regulation governing blockchain, smart contracts, and digital assets, this bulletin will discuss the legal developments supporting the infrastructure and ecosystems that enable the use and acceptance of these new technologies.
Key capital market trends: Digital asset treasuries
US public companies increasingly embrace digital assets as part of their corporate treasury strategies. Known as digital asset treasury (DAT) companies, these public companies, at the core of their revamped business model, pursue long-term accumulation of significant reserves of digital assets while employing sophisticated, yield-enhancing trading strategies.
DATs have raised significant capital through a range of equity and equity-linked instruments, including public and private offerings, de-SPAC transactions, and reverse mergers, in order to actively acquire Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and other alternative digital assets as reserve treasury holdings.
This trend represents a notable transformation in corporate treasury management, blurring lines between traditional finance and the broader digital asset ecosystem. Read more.
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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