Financing of Bitcoin and Other Cryptocurrency: UCC, Regulatory and Hedging Concerns
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will analyze legal challenges to financing Bitcoin, for both bank and non-bank lenders. The panel will also discuss the underlying blockchain architecture for transferring Bitcoin and other cryptocurrencies as well as the issues to address when perfecting a UCC security interest in those currencies.
- Reasons for financing Bitcoin: Tax advantages, buying on margin
- Bitcoin as a commodity: Regulation by the CFTC
- Providing financing to retail borrowers
- Use of proceeds: Purchasing Bitcoin vs. purchasing other assets
- Obtaining a UCC security interest on the blockchain
- Hedging against price movement: Bitcoin and other currencies
The panel will review these and other key issues:
- How does the categorization of Bitcoin as a commodity impact its financeability?
- What are some of the issues with perfecting a UCC security interest within a blockchain?
- How might lenders hedge against price fluctuations for Bitcoin and other cryptocurrencies?
- How should a lender document a loan secured by Bitcoin?
Mr. Brannan has experience across regulatory regimes and product offerings and he draws on that background to... | Read More
Mr. Brannan has experience across regulatory regimes and product offerings and he draws on that background to strategically evaluate clients' business objectives and legal needs. He provides counsel to cryptocurrency, blockchain and digital asset businesses navigating federal and state regulatory frameworks. Mr. Brannan regularly advises cryptocurrency trading platforms, exchanges, custodians and related businesses with respect to federal securities laws, FINRA rules, anti-money laundering, know your customer, state money transmitter licensing requirements, and the New York BitLicense. He counsels technology focused broker-dealers on formation issues, product structuring, the FINRA membership process and satisfying on-going regulatory obligations. Mr. Brannan also represents broker-dealers, hedge funds, and banks on various transactional issues including with respect to structured products, private securities transactions, and security-based swaps.Close
Miles B. Cowan
Mr. Cowan advises clients on a full range of corporate activities. His practice includes advising companies on all... | Read More
Mr. Cowan advises clients on a full range of corporate activities. His practice includes advising companies on all aspects of their formation and capitalization, and in evaluating, structuring and executing strategic and financial transactions. Mr. Cowan was previously at Dentons, where he gained extensive experience in mergers and acquisitions, frequently representing both buyers and sellers in a wide variety of industries, as well as with equity and debt financings, where he represented both investors and companies in all types of private investment transactions. He has also advised clients, both in the United States and internationally, on the formation and operation of private investment structures.
Mr. Cowan's experience includes representing a private equity fund in connection with the restructuring of one of its portfolio company’s debt structure; representing a private equity fund in acquiring a controlling interest in a privately computer-based certification firm; representing a cloud computing provider in connection with its acquisition by a public company; representing several technology companies in multiple series of debt and equity financings; assisting a large insurance company in financing the acquisition and servicing of multiple portfolios of viatical settlements; representing a privately held regional cellular telephone company in the acquisition of multiple cellular telephone markets from a national carrier; representing a private investment fund in obtaining financing to fund loans to individual franchisees of a national franchise.Close