Exploring business law in cyberspace
While some investors see quick gains selling cryptocurrency, they must comply with the tedious task of tracking their profits. For tax purposes, the IRS treats virtual currency as property. The IRS considers cryptocurrencies to be capital assets that are subject to the capital gains rule. Notice […]
An Initial Coin Offering (ICO) gives companies an alternative way to gather business capital by offering crypto-tokens to investors. Many ICOs are based on underlying cryptocurrencies, such as Bitcoin or Ethereum. The promoters of ICOs believe that crypto-based securities will reshape the financial system. An ICO can exist […]
On May 25, 2018, the General Data Protection Regulation (GDPR) will take effect in the European Union. The GDPR requires companies to get permission from customers before sharing their data. A company that does not comply with the GDPR could face a penalty of up […]
A cyber insurance policy transfers risk to an insurance company for losses involving a cyber breach. However, a cyber insurance policy is not a substitute for implementing adequate safeguards to secure an organization’s network. Cyber insurance may include first-party coverage and third-party coverage. First-party expenses […]
A class-action complaint filed against Facebook and Cambridge Analytica (CA) describes how the companies violated the privacy of 50 million users in the summer of 2014. The plaintiffs filed the complaint in a California federal district court. The complaint alleges negligence and unlawful business practices against the […]
