Insights & Resources
Analysis, commentary, and practical guidance on digital asset law and emerging technologies.
These articles are for informational purposes and do not constitute legal advice.
May 20, 2026
The DeFi Decentralization Test Under CLARITY: A Mechanics Guide to Section 309's Control-Surface Analysis
Section 309 protects specified DeFi activities — but the exemption is activity-based, not token-based, and protocols claiming it must survive a seven-control-surface verification their counsel are mostly not building.
Read More →Regulatory AlertMay 20, 2026
The CLARITY Act Exchange Registration Roadmap: A 180-Day Compliance Calendar for Centralized Exchanges, Brokers, and Dealers
After Senate Banking advanced H.R. 3633 on May 14, 2026, U.S. exchanges face two registrations, not one — and a 90-day compliance cutoff that begins the moment the CFTC adopts its expedited-registration process. Here is the operational calendar.
Read More →Client GuideMay 20, 2026
The Stablecoin Issuer's Dual-Framework Roadmap: How GENIUS Act PPSI Compliance Interacts with the Pending CLARITY Act Yield Compromise
The GENIUS Act is law. The CLARITY Act's Tillis-Alsobrooks yield compromise is not. Stablecoin issuers building rewards products need a dual-framework architecture that survives both regimes — and the reconciliation fight that follows.
Read More →Thought LeadershipMay 14, 2026
Tokenized Treasury Funds in 2026: A Securities, Tax, and Custody Compliance Framework (BlackRock BUIDL, Franklin BENJI, Ondo OUSG, Circle USYC)
Tokenized treasury funds crossed approximately $15 billion in aggregate AUM by mid-2026. The wrapper does not change the legal regime -- but custody, tax, and transfer-restriction architecture diverge sharply by product. A framework for issuers and allocators.
Read More →Thought LeadershipMay 10, 2026
SEC Innovation Exemption 2026: A Founder's Decision Guide
Atkins announced a three-part Innovation Exemption framework on March 17, 2026; OIRA has had it since April 6, 2026. The founder-grade decision tree – and the Loper Bright vulnerability the trade press is missing – before the NPRM publishes.
Read More →Client GuideMay 2, 2026
How to Start a Hedge Fund: Structure, Economics, and Regulation
A plain-English walkthrough of every structural decision a first-time hedge fund manager faces — strategy, open-end mechanics, master-feeder, IA registration, performance fees, prime brokerage, and tax — with an interactive calculator that projects the economics for both LPs and the GP.
Read More →Client GuideMay 2, 2026
How to Start a Venture Fund: The Complete Decision Guide
A plain-English walkthrough of every structural decision a first-time venture fund manager faces — entity, economics, regulation, fundraising, and team — with an interactive calculator that projects the economics for both LPs and the GP.
Read More →Thought LeadershipApril 22, 2026
The Caremark Duty in the Managed Agents Era: A Board-Level AI Governance Framework
Delaware Chancery does not care how fast your team shipped the agent. It cares whether the board knew what the agent was doing. A Caremark analysis of board oversight duties for AI agent deployment, with case law, D&O insurance analysis, and a compliance checklist.
Read More →Thought LeadershipApril 12, 2026
You Cannot Delete What You Do Not Know the Agent Stored: The Memory Tool's Privacy Problem
Anthropic's Memory tool lets the agent decide what to store. A former SEC attorney explains why that creates a novel data-mapping problem under CCPA and GDPR -- and provides the remediation architecture deployers need before the first deletion request arrives.
Read More →Thought LeadershipApril 12, 2026
What Claude Managed Agents Means for Your Compliance Stack: A KYA Framework Analysis
Anthropic's Managed Agents runtime shipped on April 8. A former SEC attorney maps each product feature to the KYA Five Pillars governance framework -- and identifies the compliance gaps deployers must close before their first production session.
Read More →Thought LeadershipApril 12, 2026
Agents with Wallets, Agents in Vaults: A KYA Analysis of Claude Managed Agents for Digital Assets and Regulated Industries
Claude Managed Agents' architecture -- persistent sessions, MCP connectors, bash execution, cloud-hosted containers -- creates regulatory triggers self-hosted agents don't face. A former SEC attorney maps the compliance gaps with the KYA Five Pillars framework.
Read More →Thought LeadershipApril 6, 2026
When the SEC Won't Act: Private Litigation Options for Crypto Investors
The SEC dropped 12+ crypto cases in 2025. Private litigation is now the primary accountability tool. Here's the legal toolkit for investors.
Read More →Thought LeadershipApril 5, 2026
AI Agent Liability in DeFi: Who's Responsible When the Bot Trades?
AI agents are executing autonomous financial transactions in DeFi right now. A former SEC attorney analyzes the products liability, securities, commodities, and AML exposure deployers face -- with case law, enforcement precedents, and a compliance roadmap.
Read More →Thought LeadershipMarch 18, 2026
Not an Agent. Not a Defense: Seven Doctrines That Already Hold AI Deployers Liable
The technology industry calls them agents. The law calls them tools. Seven existing legal doctrines -- from board oversight to products liability to trade secret exposure -- already impose direct liability on companies deploying AI agents, without the defenses that agency law would provide.
Read More →Thought LeadershipJanuary 31, 2026
Blockchain Patent Strategy for Web3 Startups: A Comprehensive IP Planning Guide
Strategic guidance on blockchain patents for Web3 startups preparing for fundraising and M&A. Learn USPTO guidance, costs, timelines, and when to patent vs. use trade secrets.
Read More →Thought LeadershipJanuary 26, 2026
Smart Contract Legal Enforceability: When Code Isn't Law
The 'code is law' ethos collapsed with The DAO hack. Smart contracts face contract formation requirements, oracle problems, and dispute resolution challenges—but hybrid approaches like Ricardian contracts bridge law and technology.
Read More →Corporate & TransactionsJanuary 26, 2026
Web3 Employment & Crypto Compensation: Equity, Tokens, and Tax
Navigate the complexities of compensating Web3 employees with equity and token grants. Practical guidance on tax treatment, vesting schedules, international hiring, and compliance requirements for crypto startups.
Read More →Client GuideOctober 8, 2025
Crypto Tax Lawyer's Guide: 2025 Reporting Requirements & IRS Compliance
Navigate 2025 crypto tax compliance with confidence. Complete guide to Form 1099-DA, cost basis tracking, DeFi taxation, and IRS reporting requirements—with real cost estimates and actionable strategies.
Read More →Stay Informed on Digital Asset Law
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