Abstract
The chapter is mainly about the steps governments are taking to assure that the latest technological innovations are not misused by drug dealers and other criminals, persons seeking to avoid the payment of taxes on profits made, as well as by terrorists and governments facing international sanctions. The problems include a lack of understanding by governments about the nature and function of the new technology, how to overcome its near total lack of transparency, the actions of individuals who hack individual websites to gain knowledge of users’ private keys to steal wallets containing virtual currencies, and other endeavors.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
For a discussion of the complexity jurisdiction in cyberlaw cases and how courts exercise it, see Roy J. Girasa, Cyberlaw: National And International Perspectives, Ch. 2, Prentice-Hall, 2010.
- 2.
International Shoe Co. v. Washington, 326Â U.S. 310 (1945).
- 3.
Asahi Metal Industry Co. v. Superior Court, 480Â U.S. 102 (1987). For a discussion of jurisdictional basics see, Betsy Rosenblatt, Principles of Jurisdiction, https://cyber.harvard.edu/property99/domain/Betsy.html
- 4.
Zippo Mfr. Co. v. Zippo Dot Com, Inc., 952Â F. Supp. 1119 (W.D. Pa. 1997).
- 5.
Regulation EU 2016/679.
- 6.
Gregory Brandman and Samuel Thampapillai, Blockchain – Considering the Regulatory Environment, University of Oxford Law Faculty, July 7, 2017, https://www.law.ox.ac.uk/business-law-blog/blog/2016/07/blockchain-%E2%80%93-considering-regulatory-horizon
- 7.
Wulf Kaal and Craig Calcaterra, Cryptotransaction Dispute Resolution, University of Oxford Law Faculty, July 13, 2017, https://www.law.ox.ac.uk/business-law-blog/blog/2017/07/cryptotransaction-dispute-resolution
- 8.
Digital Decision, Aragon Network, https://blog.aragon.one/aragon-network-jurisdiction-part-1-decentralized-court-c8ab2a675e82
- 9.
SEC v. Shavers, No. 4:13-CV-416 (E.D. Tex. Aug. 6, 2013).
- 10.
SEC v. W.J. Howey & Co., 328 U.S. 293, 298–99 (1946); Long v. Shultz Cattle Co, 881 F.2d 129, 132 (1989).
- 11.
SEC v. Shavers, supra at note 9, https://www.sec.gov/litigation/complaints/2013/comp-pr2013-132.pdf. See also U.S. Securities and Exchange Commission, Litigation Release. No. 23090 (Sept. 22, 2014), https://www.sec.gov/litigation/litreleases/2014/lr23090.htm
- 12.
Gordon v. Dailey, No. 14-cv-7495 (JHR) (JS) (D.C.N.J., July 25, 2016).
- 13.
Federal Court Allows Bitcoin Investor Suit to Proceed, Internet Law Commentary, March 30, 2017, https://internetlawcommentary.com/2017/03/30/federal-court-allows-bitcoin-investor-suit-proceed/
- 14.
Stephanie Lo and J. Christina Wang, Bitcoin as Money?, Federal Reserve Bank of Boston: Current Policy Perspectives, Sept. 4, 2014, https://www.bostonfed.org/publications/current-policy-perspectives/2014/bitcoin-as-money.aspx
- 15.
J. Dax Hansen and Joshua L. Boehm, Treatment of Bitcoin Under U.S. Property Law, Perkins Coie, March 2017, https://www.virtualcurrencyreport.com/wp-content/uploads/sites/13/2017/03/2016_ALL_Property-Law-Bitcoin_onesheet.pdf
- 16.
Cynthia Gayton, Smart Contracts, Cryptocurrency and Taxes, July 26, 2016, https://medium.com/@squizzi3/smart-contracts-cryptocurrency-and-taxes-6050f1f5308e
- 17.
Search Complaince, Smart contract, Tech Target, http://searchcompliance.techtarget.com/definition/smart-contract
- 18.
Ethereum, https://ethereum.org/
- 19.
Iltacon, What are Blockchain and Smart Contracts and When Will They Be Important, Panel Discussion, Sept. 30, 2016, https://www.iltanet.org/HigherLogic/System/DownloadDocumentFile.ashx?DocumentFileKey=bde36e05
- 20.
U.S. Government Services Administration, Blockchain, https://www.gsa.gov/technology/government-it-initiatives/emerging-citizen-technology/blockchain
- 21.
Michaela Ross, Tech Giants Eye Government Blockchain Use as Business Boost, Bloomberg, Aug. 25, 2017, https://www.bna.com/tech-giants-eye-n73014463697/
- 22.
For a history of smart contracts and their implications, see Max Raskin, The Law and Legality of Smart Contracts, 1 GEO. L. TECH. REV. 304 (2017), https://www.georgetownlawtechreview.org/the-law-and-legality-of-smart-contracts/GLTR-04-2017/
- 23.
Caitlin Moon, Blockchain for Lawyers 101: Part 2, Law Technology Today, Jan. 31, 2017, http://www.lawtechnologytoday.org/2017/01/blockchain-lawyers-101-part-2/
- 24.
Kate H. Withers, Smart Contracts: Opportunities and Legal Risks in Fin Tech, Nov. 8, 2016, National Law Review, Jan 15, 2018, https://www.natlawreview.com/article/smart-contracts-opportunities-and-legal-risks-fintech
- 25.
Sue A. Purvis, The Fundamentals of Intellectual Property for the Entrepreneur, U.S. Patent and Trademark Office, https://www.uspto.gov/sites/default/files/about/offices/ous/121115.pdf
- 26.
Amanda G. Ciccotelli, How blockchain is critical to the securitization of IP, IPWatchdog, Oct. 9, 2017, http://www.ipwatchdog.com/2017/10/09/blockchain-critical-securitization-ip/id=88179/
- 27.
Binded, www.binded.com
- 28.
Michael Zhang, Binded Unveils One Click US Copyright Registration for Photos at No Extra Fee, Petapixel, Aug. 8, 2017. https://petapixel.com/2017/08/08/binded-unveils-one-click-us-copyright-registration-photos-no-extra-fee/
- 29.
Bernstein, https://www.bernstein.io/
- 30.
Suzy Shinner Blockchain Technology and IP, Lexology, Feb. 3, 2017, https://www.lexology.com/library/detail.aspx?g=755d3893-a5fb-43d7-86f7-c4b842641bbf
- 31.
Ruth Burstall and Birgit Clark, Blockchain, IP and the Fashion Industry, Managing Intellectual Property, March 23, 2017, http://www.managingip.com/Article/3667444/Blockchain-IP-and-the-fashion-industry.html
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2018 The Author(s)
About this chapter
Cite this chapter
Girasa, R. (2018). Legal Issues of Digital Technology. In: Regulation of Cryptocurrencies and Blockchain Technologies. Palgrave Studies in Financial Services Technology. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-78509-7_3
Download citation
DOI: https://doi.org/10.1007/978-3-319-78509-7_3
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-319-78508-0
Online ISBN: 978-3-319-78509-7
eBook Packages: Economics and FinanceEconomics and Finance (R0)