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Gary DeWaal Named Cryptocurrency, Blockchain and Fintech Trailblazer by The National Law Journal

Firm News | September 4, 2018

Gary DeWaal, Financial Services special counsel, has been named a Cryptocurrency, Blockchain and Fintech Trailblazer by The National Law Journal. The article notes that growth and popularity in the cryptocurrency space dovetailed with his arrival at Katten, providing him with the opportunity to study and integrate it into his practice. As a result, the article highlights how those efforts led to his work for LedgerX, the first federally license execution facility and derivatives clearing organization that could settle derivatives trades in bitcoin. Gary also has blazed a trail in educating investment banks, hedge funds and regulators on cryptocurrency, and was cited as an authority in the CabbageTech case, where a federal judge upheld the ruling that virtual currencies are commodities. In looking to the future, Gary stated, "I think we're moving into phase two of the regulatory environment, where phase one involved regulators making pronouncements on how the law applies and phase two will involve impartial arbitrators, like judges, assessing how accurate the regulatory pronouncements are." He added that the industry is arriving at a critical juncture, where subsequent legislative changes at the state, federal and global levels are inevitable. "Because the new technology changes so rapidly it is disruptive technology and that creates disruptive law. The key is helping clients proceed without violating a law." ("Cryptocurrency, Blockchain and Fintech—Trailblazers," September 2018)

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