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Wyoming Cements Position as Leading U.S. Jurisdiction for Blockchain with Sweeping New Legislation
Through the public comment and legislative meeting protocols unique to Wyoming, seven blockchain-related bills predicted to cement Wyoming’s position as the leading jurisdiction in the sector made it to the floor of the legislature for a vote − all were passed and are now poised to become law.

While the Trump Administration signaled its desire to discontinue or significantly change the EB-5 visa program, neither came to pass in 2018. The program is scheduled to expire as of December 21, 2018.  Meanwhile, the federal court for the District of Columbia issued an important decision striking down the USCIS’s interpretation of its own rules of what constitutes a capital investment. 

U.S. Customs and Border Protection officials have broad powers, and the U.S. Constitution’s Fourth Amendment protections against unreasonable search and seizure are lessened at the borders. CBP also has broad access to publicly available information as well as other information from U.S. government and state government sources.

As Canada draws ever closer to October 17, 2018 – the date on which the Cannabis Act comes into force and recreational or other adult-use cannabis is set to be unveiled across Canada – complex regulatory issues continue to cloud the celebrations, including individuals working or investing in the Canadian cannabis sector being turned back at the U.S. border – or worse.

Reforms for the EB-5 Regional Center Program were proposed in recent weeks for inclusion in the March 23 Congressional Omnibus Package. However, after heated debate, a faction of Democrats in the U.S. Senate did not approve of many of these reforms. Thus, the EB-5 program has again been extended for another six months without change, but Senator Charles Grassley (R-Iowa) has now vowed to terminate it in the near term. Foreign investors planning to apply for EB-5 visas should act now in light of the possibility of termination of the EB-5 Regional Center Program on September 30, 2018.

While the regulation of blockchain and cryptocurrency activities on a federal level remains uncertain, Wyoming has adopted legislation that aims to facilitate the development of business in these fast-emerging areas by providing a predictable legal and regulatory environment.

While there are distinct differences regarding reporting obligations to notify state regulators of “breach events” and the like, the new cybersecurity regulations promulgated by New York and Colorado essentially codify what broker-dealers, investment advisers and fund managers are or should be doing as required by their respective regulatory or self-regulatory bodies.

Wilson Elser is pleased to provide the 2015 ESI Case Law Update, our annual compendium of cases dealing with issues and developments surrounding electronically stored information (ESI). Today, it is a rare case that does not involve the preservation and management of ESI, and your knowledge of the tools and regulations could mean the difference between sanctions and compliance.

A recent Supreme Court decision makes clear that businesses should affirmatively disclaim class arbitration in their arbitration provisions. Absent this disclaimer, if an arbitrator demonstrates an interpretation of the arbitration provision, the parties might be bound by this ruling with no judicial recourse.

The Bloomberg Law newsletter, Product Safety and Litigation Reporter, has published an article written by David Ross that examines the U.S. Supreme Court’s divided opinions on personal jurisdiction.

Foreign defendants should keep abreast of developing case law stemming from J. McIntyre Machinery, Ltd. v. Nicastro, which may clarify what activities are most likely to give rise to personal jurisdiction under the still developing precedent.