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Mayer Brown

December 2, 2022


Digital Assets Download, World Cup Edition: In some ways, the trajectory of the World Cup has looked a bit like digital assets markets in 2022—some blowouts, some upsets, a bit of drama and controversy, all of it wrapped up into a global, high-stakes event that brings something new every day. Here at the Digital Assets Download, we track the players and scores but never take sides ;-) Enjoy the latest below!

For the Uninitiated: Digital Assets Download is a curated mix of insights and headlines that provide a Layer 3 Legal Perspective™ on the digital assets multiverse—created by Mayer Brown’s global Digital Assets, Blockchain & Cryptocurrency group. (Check out all of our previous editions of the Digital Assets Download.)

Upcoming Production Schedule: After today’s release, our final 2022 issue will be published on December 16. And our global team will continue to provide legal commentary and insights on events as they occur.

Sharing: You can share this edition of the Digital Assets Download via LinkedIn and Twitter.



Original Mayer Brown content, perspectives and insights from across our global platform that touch on digital assets, decentralized finance, cryptocurrencies and related fields.

Tokenization, Ownership and Intellectual Property Rights

Tokenization is the process of taking real-world assets and having them represented by digital tokens that can be traded on a blockchain. But do rights in the asset represented by a token transfer to a buyer on the sale of the token? Is the answer always the same? Mayer Brown’s Benjamin Beck tackles those questions in this piece.

The Crypto Conundrum: Difficulties in Valuing Cryptocurrency Assets Held in Exchange Custody: Part One

Who “owns” crypto assets that may enter a bankruptcy estate? This increasingly relevant question is addressed in this piece published by the American Bankruptcy Institute and written by Mayer Brown’s Jon Schlotterback. Look out for part two in the new year!

Newly Appointed SEC Commissioner Lizárraga Delivers First Public Remarks on Digital Assets

In the first public comments on digital assets from SEC Commissioner Jaime Lizárraga, he generally reemphasized existing SEC positions and focus and didn’t suggest a departure from the SEC’s current approach to the digital assets markets. Mayer Brown’s Joe Castelluccio and Don Irwin summarize his November 16 remarks on “Fintech and the Law” held at Brooklyn Law School.



Selected events for deeper dives into different parts of the digital assets and DeFi world.

Web3 Lawyers Meetup at EmpireDAO in New York

On Wednesday, December 7 from 5:30 - 8:30 p.m. ET, Mayer Brown and EmpireDAO will host a Web3 lawyer meetup. Even though crypto has gained significant popularity in the past few years, there is still a shortage of legal professionals in the field. This is a great chance to meet and network with other professionals in the practice! Food and drinks, too!

Investigating the Collapse of FTX, Part I

On Tuesday, December 13 starting at 10 a.m. ET, the full US House Committee on Financial Services will convene for a hybrid hearing.



For those new to the digital assets and DeFi world, each edition of the Digital Assets Download will highlight a different term to help you be a part of the conversation.

Decentralized Autonomous Organization (DAO)

DAOs are a form of digital-native business that can be organized to do just about anything: management of a crypto protocol (MakerDAO), investment (MetaCartel Ventures), art collection (PleasrDAO), or even completion of a single purpose (ConstitutionDAO). The key distinguishing feature of a DAO—beyond its digital roots—is its decentralized and autonomous governance structure.

Hyper-democratic by nature, DAOs are not historically creatures of state law, unlike the predominant forms that most businesses take—corporations and limited liability companies. Also unlike corporations and limited liability companies, DAOs do not have boards of directors, managers or executive management; instead, in a DAO’s purest form, decisions made by tokenholders are implemented with self-executing smart contracts. While shareholders and bylaws are the backbones of a corporation, the foundations of a DAO are its tokenholders and smart contracts.

  • DAO membership is derived from ownership of the DAO’s token and is often permission-less. As with most crypto-tokens, these are typically freely tradeable on decentralized exchanges or earned by performing actions the DAO seeks to encourage, such as providing liquidity.
  • Smart contracts, a type of program stored on a blockchain, allow DAOs to forego many of the management and other authority structures of a typical organization by automatically executing actions when certain conditions are met, without the need for intermediaries. Rules of the organization are made by members and encoded in smart contracts. Among other things, these rules control the DAO’s treasury and spending. Rules can be changed by vote of the membership.

Writings on the Wall, Translating ‘Crypto’ Terms with Mayer Brown

From Airdrop to Wrapped Token, our illustrated glossary, “Writings on the Wall, Translating Securities with Mayer Brown,” has been updated with additional digital assets and cryptocurrency terms. Check out our “featured” list for the crypto terms and the full list of terms.



How can we better serve as your oracle to the digital assets world? We’d love to hear from you

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