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Expert Analysis

Smart Contract Coders May Face Aiding And Abetting Risk

By Jonathan Marcus, Stuart Levi, Trevor Levine and Daniel O’Connell ( February 27, 2019, 1:54 PM EST) -- The U.S. Commodity Futures Trading Commission is considering how smart contract applications on the blockchain implicate its jurisdiction and enforcement authority. Smart contracts are pieces of code on a blockchain that execute certain steps (such as moving a cryptocurrency from one wallet to another) when a condition or set of conditions is met. They are not "contracts" in the traditional legal sense, nor are they "smart" in the sense of using artificial intelligence or similar technologies....

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