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October 21st, 2022
State Regulators Charge NFT Casino Project With Securities Violations
Blockchain Technology Co-Chair Jeremy S. Goldman is quoted in the article, “State Regulators Charge NFT Casino Project With Securities Violations” published by Decrypt. The article discusses the emergency cease-and-desist orders filed against Slotie by state securities regulators from Texas, New Jersey, Kentucky, and Alabama. Jeremy believes it makes perfect sense that an NFT project like Slotie would be one of the first to incur a securities regulator’s wrath. He is quoted saying, “This is low-hanging fruit. [Slotie NFTs] are marketed as giving the holders a passive income in revenue that's generated through the efforts of Slotties and its partners, which is the definition of a security.” One reason these states may have chosen to pursue Slotie for securities violations, Jeremy says, is the fact that the case pertains to gambling, a highly regulated and closely monitored sector of state law enforcement. He says, “I imagine that part of the reason it came from the states is because they started with concern over gambling. And then, I guess, as a matter of litigation strategy and enforcement, they thought that the securities angle was an easier shot.”
Jeremy sees the biggest development from this week’s enforcement action against Slotie to be the indication that there could be even more dogs in that fight than previously anticipated. He says, “The federal agencies are not the only sheriffs in town. I can only speculate, but it does feel to me that there's some jockeying for power and control. And this is a signal that the states still have a role to play when it comes to even securities in the crypto space.”
Read the full article here.
Other Quoted
The Battle over California’s Bill to Regulate how Insurers Handle Personal Data
Rick Borden is quoted in the Continuing Education of the Bar’s (CEB) DailyNews in an article on the proposed California data privacy law, Senate Bill 354, which would extend greater data privacy protections to the insurance industry. The Insurance Consumer Privacy Protection Act (ICPPA) 2025 would expand the California’s existing insurance-specific privacy law, known as the Insurance Information and Privacy Protection Act (IIPPA).
The article stated, “Rick Borden, a partner with Frankfurt Kurnit Klein & Selz who focuses on data strategy and privacy, said California may be acting too soon because revised regulations and guidance are coming down the pike. A working group at the National Association of Insurance Commissioners (NAIC) is moving ahead with updates to its Model law 672, which each state has either adopted or adopted in substantially similar form. ‘Let them do their stuff,’ Borden said.”
He pointed to the American Property Casualty Insurance Association (APCIA) comment letter, written on behalf of 1,200 companies comprising nearly 60% of the country’s property and casualty insurance market. It also recommended CCPA (California Consumer Privacy Act) regulators to wait.
But the bill’s author Senator Monique Limón and its sponsor, California Insurance Commissioner Richard Lara, are moving forward with the bill.
Mr. Borden also noted “that advertising and marketing is one of the most important areas that California’s proposed new protections could cover.”
“‘Certain advertising is not subject to GLBA [Gramm-Leach-Bliley Act], so already would be subject to CCPA,’ he said. ‘Because you’re not their customer, yet. And this isn’t about a financial transaction with them.’ The revised insurance laws would cover data collection, including for advertising, that is a part of covered insurance relationships.” View article. (Cost-free registration required.)
July 8 2025
In a Data-Obsessed World, Attorneys Welcome Privacy Law Specialization
The Los Angeles Times quotes Daniel M. Goldberg on the California State Bar’s decision to offer a specialization in privacy law. Mr. Goldberg stated that the area of privacy regulation has been exploding with growth, with California on the forefront —driving a need for designating leaders in the field. “‘The law is very complex. But on top of the law being complex, the specialization really requires a level of technical expertise. The law talks all about measures that companies need to take with respect to collection, use, disclosure of data and opting out. But if you don’t understand how the technology works or how the ecosystem works, then it’s an area that would be very, very difficult for you,’ he said.”
“He added, ‘One thing about privacy law is that you also have to be an expert on what’s going on in the news, the latest changes and whether it has to do with ad-tech platforms or AI. If you’re not up with the latest changes, you’re going to fall behind very quickly.’”
Mr. Goldberg emphasized California's pioneering role in privacy regulation. He referenced the state’s passing “the first comprehensive privacy law (the California Privacy Act or CCPA) in 2018, which he said catalyzed the creation of similar laws across other states and established California as the national leader in privacy legislation.” He noted the state had also been a leader in enforcement, citing activity of the Attorney General’s office and the California Privacy Protection Agency’s multiple enforcement actions.
Mr. Goldberg also explained why data privacy is an increasing legal practice at law firms: “‘It’s incredibly lucrative just because it’s such a broad area. It really is a subject matter expertise that goes in so many different subcategories of practices, and so almost every firm now has to have a privacy expert.'" View Article
June 26 2025
Legal, Regulatory Woes Could Mark New Era for Influencers
Hannah E. Taylor is quoted in FTCWatch on class actions against influencers and the brands they represent. Such lawsuits alleging deceptive advertising are now seeking hundreds of millions of dollars in damages. Ms. Taylor discussed this trend and commented on the FTC’s position, the NAD’s increased attention to influencer marketing, the responsibility of brands, and AI tools used to monitor content. View Article. (Subscription required)
June 24 2025
