There has been considerable commentary on the topic of NFTs following Christie’s sale of an NFT of artist, Beeple’s digital artwork titled “Everydays: The First 5000 Days” in March. Once the gavel fell securing the winning $69M bid, the world recognised in an instant the extraordinary marketability of NFTs, with the most Beeple had sold one of his works for prior to this sale being only $100. The speakers will discuss how the inherent value of NFTs lies in their ability to capture and record provenance and title on the blockchain.
In the first part of the webinar, Dean Armstrong QC and Racheal Muldoon, in conversation with Michael Patchett-Joyce, will draw on their recent experience of advising two internationally renowned auction houses on how best to approach the sale of NFTs and the acceptance of cryptocurrencies. This will involve an analysis of how this emergent market operates and of the practical law cross-sectoral challenges.
In the second part of the webinar, Michael, in conversation with Dean and Racheal, will look at the creation, storage, trading and transfer of security tokens. The DFSA has recently closed its Consultation on the Regulation of Security Tokens (DFSA Consultation Paper No. 138, 29 March 2021). The conversation will cover the key elements of security tokens, the risks inherent in such instruments (including the need to address money laundering, terrorist financing and sanctions related concerns) and the development of international best practice.
Speakers:
DEAN ARMSTRONG QC
Head of Chambers, Barrister | 36 Commercial
Dean is a leading authority in the UK on cyber law, with a growing reputation in all areas of the subject. He has advised international banks, large financial institutions, blue chip companies, and major institutions in the not-for-profit sector.
He is co-author of Cyber Security Law and Practice (Lexis Nexis: 2017), an authoritative and thorough textbook. He is also co-author of the first legal textbook written by counsel on distributed ledgers and cryptocurrencies: Blockchain and Cryptocurrency: International Legal and Regulatory Challenges (Bloomsbury Professional: 2019) which has been well received globally. Dean has recently co-authored two books on cyber litigation and cyber risks and insurance: Cyber Litigation: The Legal Principles (Bloomsbury Professional: 2020) and Cyber Risks and Insurance: The Legal Principles (Bloomsbury Professional: 2021).
He is an expert on blockchain, smart contracts, ICO, data breach, sensitive personal data, GDPR, international data protection legislation and facial recognition. Dean is consulted by clients on the impact of Brexit on data regulation and how international firms should manage data across the world – including the increasingly complex area of international data transfer rules.
MICHAEL PATCHETT-JOYCE FCIArb
Barrister | 36 Commercial
Michael Patchett-Joyce FCIArb is a barrister, arbitrator, mediator with over 30 years’ professional experience. His expertise is focused on commercial litigation, international commercial arbitration, and indirect tax (VAT). As well as practising at all levels of the courts and tribunal hierarchies in England and Wales, he acts as Counsel in cases before the Dubai International Financial Centre (DIFC) Courts, and the Abu Dhabi Global Market (ADGM) Courts.
He has also acted in four cases heard by the Court of Justice of the European Union (CJEU) in Luxembourg. He is experienced as an arbitrator or arbitration Counsel in institutional arbitrations, including cases under the ICC, DIFC-LCIA, DIAC and LMAA rules.
He is a frequent speaker at international conferences on all aspects of his practice - commercial litigation, arbitration and VAT.
RACHEAL MULDOON
Barrister | 36 Commercial
Racheal is a barrister at 36 Commercial with a broad practice across Cyber (inclusive of cryptocurrency, such as Bitcoin, theft/fraud and data protection class actions), Art and cultural property, Contract Corporate Crime (Fraud, including Civil Fraud, AML/Sanctions/Terrorist Financing compliance), financial regulation and Tax law.
This past year, Racheal has developed a specialisation in the recovery of stolen cryptocurrency, she frequently works on contentious and non-contentious matters with a common Cyber Law thread. Racheal recently advised an international auction house on its very first sale of a Non-Fungible token of a digital artwork that sold for several million pounds. Racheal has also long advised those in the art and cultural heritage sectors – from the British Museum, in her in-house role as Senior Legal Counsel, to private dealers of ivory artefacts.
For further information or to request for an assistance, please contact [email protected]
Select
