The following session took place during Caribbean Insolvency Symposium in February 2019. This panel will discuss blockchain and cryptocurrency, focusing on the basic terminology and how various agencies of the U.S. government treat cryptocurrency, in particular the Internal Revenue Service, the Commodity Futures Trading Commission, and the Securities and Exchange Commission. The panel will then examine how security interests in cryptocurrency are perfected under Article 9, and whether transfers of cryptocurrency can be avoided pursuant to 11 U.S.C. § 548 or clawed back as preferences pursuant to 11 U.S.C. § 547, as well as whether interests in cryptocurrency can be claimed exempt under 11 U.S.C. § 522, with a focus on Florida. The panel will also discuss issues concerning whether initial cryptocurrency coin offerings are dischargeable under 11 U.S.C. § 522, how digital currency is changing the way business is conducted, which industries have been early adopters of digital currency, and whether digital currency is here to stay. Finally, the panel will discuss the Cayman perspective on digital currency, as well as current developments and trends. All sessions from this conference can be accessed at https://cle.abi.org/.
Hon. Roberta Colton, Moderator
U.S. Bankruptcy Court (M.D. Fla.)
Cayman Finance; Grand Cayman, Cayman Islands
Alan R. Rosenberg
Markowitz Ringel Trusty & Hartog; Miami
Bryce A. Suzuki
Bryan Cave Leighton Paisner LLP; Phoenix