Stablecoins in Commercial Transactions: UCC Issues With Formation and Payments on Blockchain, Regulatory Framework
Recording of a 90-minute premium CLE video webinar with Q&A
This CLE course will discuss stablecoins in the context of commercial transactions, with a particular focus on UCC rules regarding settlement of payments, adverse claims, discharge of underlying obligations, and security entitlement. The panel discussion will include the current regulatory framework around stablecoins and blockchain and how it impacts financial transactions with stablecoin.
Outline
- How a stablecoin is created
- Applying UCC concepts to stablecoin payments
- UCC Articles 3, 4, and 4A: settlement finality, adverse claims, discharge of the obligation
- Article 8: investment securities
- Bank regulatory concerns
- Securities regulatory concerns
- Central Bank Digital Currencies
Benefits
The panel will review these and other key issues:
- How does a stablecoin vary from other cryptocurrencies, and how does it retain a stable value?
- What are some issues to consider when making payments on the blockchain?
- How can a bank take possession of custody as security for a loan?
- When will a stablecoin be regarded by regulators as a security? A commodity?
Faculty
Robin Nunn
Partner
Morgan, Lewis & Bockius
Ms. Nunn is Co-Leader of the firm’s Banking Industry Team. Her practice focuses on complex civil litigation,... | Read More
Ms. Nunn is Co-Leader of the firm’s Banking Industry Team. Her practice focuses on complex civil litigation, enforcement litigation, white collar defense, transactional due diligence, creation and review of corporate compliance programs, and investigations. Ms. Nunn also counsels on novel issues connected to new communication technologies, blockchain, cryptocurrencies, payments, artificial intelligence, and big data. She has handled high-stakes cases on behalf of a wide range of clients, including banks, financial services firms, fintech companies, pharmaceutical companies, technology companies, and private equity firms in connection with civil trials and hearings, regulatory investigations and enforcement proceedings, state licensing, product development, regulatory compliance, examination, transactional matters, False Claims Act investigations, antitrust disputes and consumer protection lawsuits.
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Rebecca J. Simmons
Partner
Sullivan & Cromwell
Ms. Simmons practices in the firm’s Financial Services and Capital Markets Groups, is head of its payments... | Read More
Ms. Simmons practices in the firm’s Financial Services and Capital Markets Groups, is head of its payments practice and co-head of its FinTech practice. She represents clients in the development of payments, settlement, clearing and other financial technology businesses and systems; in the structuring and development of financial products, novel securities and structured transactions; in insolvency related matters and resolution planning, including living wills; and in regulated transactions such as the development of new lines of business and corporate acquisitions. Ms. Simmons’ practice areas include U.S. banking and commodities laws and regulation, payments, technology and outsourcing matters, bankruptcy and insolvency issues relating to complex transactions, corporate restructuring, derivatives structuring and regulation, U.S. securities laws and capital markets transactions.
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