Stablecoins
Tokens pegged to the USD are primarily used to trade cryptocurrency on exchanges with no or limited fiat support. How are these stablecoins legally structured, and how are they backed? Do stablecoins represent an innovation in finance? Are they fintech or crypto? Are they potentially useful beyond cryptocurrency trading, and how can we assess their counterparty risk?

Custody & Insurance
Rule #1 of a Bitcoin exchange: Don’t lose your Bitcoin. Various competing models for self-custody exist, such as hot/cold wallet solutions and multisignature with or without an external party. Additionally, external experts provide consulting, services and even fully custodial solutions. What makes cryptocurrencies so difficult to secure? Can they be insured? How do self-insurance models fare against external insurers?

Initial Exchange Offerings and Security Tokens
Instead of raising money directly from investors (VC) or through publicly available smart contracts (ICOs), projects increasingly turn to exchanges to facilitate fundraising (IEOs). At the same, Security Token Offerings (STOs) ignite the fantasies of regulators and lawyers. Why do projects turn to exchanges for fundraising, and what does the law think about this? What is the status of security tokens, given the lack of projects and regulatory scrutiny?