MMM’s Austin Mills discusses Blockchain’s legal issues and his role as chair of the firm’s Blockchain & Cryptocurrency Group


Blockchain technology and cryptocurrency represent a potential paradigm shift in the way we transact with each other. The number of potential uses is wide-ranging and open-ended — it’s a reality that could disrupt any industry that involves the movement of data or value. Most industries and business models will at least be exposed to blockchain technology.

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Prediction #4: “Atlanta positioning to become global blockchain capital”

By John Yates & David Calhoun / Corporate Technology Group – Morris, Manning & Martin, LLP

We’ve just completed a strong year for technology companies in the Southeast – with the wind at our backs moving into 2017. It’s realistic to predict another very strong year for technology entrepreneurs in Atlanta and the Southeast. In light of MMM’s deep involvement in the Southeastern tech community, we’re sharing with you a series of predictions for 2017.

Here is the fourth of our Top 5 Predictions in 2017 for the Atlanta/Southeast Technology Community:

Prediction #4: Atlanta positioning to become global blockchain capital

In 2017, a bright spot for

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CFPB Proposes Rule Regulating Pre-Dispute Arbitration Clauses

May 17th, 2016
Bitcoin, Recent Legal News

By Katie McConnell

On May 5, 2016, the Consumer Financial Protection Bureau (“CFPB”) issued a proposed rule, which will require providers of certain consumer financial products and services to overhaul their existing consumer-facing agreements. The proposed rule would:

  1. Prohibit class action waivers in a wide range of consumer financial products agreements;
  2. Require “providers” to insert language into their consumer-facing agreements to inform consumers of their right to participate in class actions; and
  3. Require a provider involved in an arbitration claim to timely file with the CFPB information about the claim and how the claim was resolved.

What This Means

Prospective Effectiveness:

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Washington State Applies Money Transmission Act to Payment Processors

May 3rd, 2016
Bitcoin, Recent Legal News

By Austin Mills

Money transmission licensing (and related compliance) can be an expensive and time-consuming process. To further complicate things, it is often difficult to determine where a particular state draws the line on whether or not a particular payments-related activity constitutes money transmission.

The state of Washington’s Department of Financial Institutions (“DFI”) recently clarified one of these grey areas (“payment processing”) with an interpretive statement (the “Statement”) regarding the Washington Uniform Money Services Act (the “Act”). The statement concludes that “payment processing” is money transmission. According to the statement, payment processing includes activities where an entity “receives[s]

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SEC Issues Bitcoin Alert

May 14th, 2014

The SEC’s Office of Investor Education and Advocacy is issuing this Investor Alert to make investors aware about the potential risks of investments involving Bitcoin and other forms of virtual currency.

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