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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
In his New York Law Journal Blockchain Law column, Robert Schwinger explains how, when it comes to virtual currencies, digital tokens and other blockchain assets, our legal and political systems are still in the earliest stages of grappling with which regulations and structures would be best suited for encouraging financial technology innovation on the one hand, while providing certainty and serving the public interest on the other.
While courts last year recognized that under existing law virtual currencies based on blockchain platforms could qualify as “securities,” see United States v. Zaslavskiy, No. 17 CR 647, 2018 WL 4346339 (E.D.N.Y. Sept. 11, 2018), and/or “commodities,” see CFTC v. McDonnell, 287 F. Supp. 3d 213 (E.D.N.Y. 2018), concern has been growing that these regulatory structures may not be ideal for regulating all digital tokens in all situations. Lawmakers across the country are thus now exploring possible revisions to existing laws and regulations to deal more appropriately with this new asset class.
Robert A. Schwinger explores recent developments in this edition of his New York Law Journal Blockchain Law column.
Read the full article, Changing securities laws and regulations for the digital token age.
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Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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On February 2, 2024, the Belgian Presidency of the Council of the European Union confirmed that the Committee of Permanent Representatives had signed the Artificial Intelligence (AI) Regulation, referred to as the AI Act. Approval by the EU Parliament followed on 13 March 2024, and the AI Act is likely to appear in the EU’s Official Journal around May 2024. The AI Act aims to establish a stringent legal framework governing the development, marketing, and utilisation of artificial intelligence within the region, thereby marking a significant advancement in the regulation of this burgeoning domain.
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In the recent decision of Euronav Shipping NV (Euronav) v Black Swan Petroleum DMCC (BSP) [2024] EWHC 986 (Comm) (the Judgment), the English Commercial Court has underscored the role of comity in international disputes.
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