Tallinn PRE-EVENT to Computational Law and Blockchain Global Festival

This is a PRE-EVENT to the Computational Law and Blockchain Global Festival https://www.meetup.com/Estonia-Legal-Hackers/events/247447020/ which is held in Tartu on 16th-18th of March and have three different but interlinked tracks: LEARN, DISCUSS, HACK.

LEARN track:
"Need for ICO regulation and the offer of tokens" (draft of master thesis) presented by Eduardo Silva, Master of Law Student at Technology and Law Master Program, Tallinn University of Technology.

"US example: SEC has been showing its teeth regarding ICOs and Howey test" presented by Michael Gallagher, commercial litigator in Philadelphia, Pennsylvania, US, former director of EuroCollege, former director of Eesti Õiguskeskus, lecturer on Negotiation, Conflict Management and Strategic Thinking.

DISCUSS track:
"First iteration of Estonian ICO best practice and legal design challenge" moderated by Marek Pajussaar, former risk manager of Financial Supervisory Authority.

In an informal discussion all the participants are expected to contribute in answering the following questions: What are the risks and opportunities for Estonia? What are the technical and legal means to mitigate these risks and maximize the opportunity?

Background knowledge:
On 6th of December 2017 the Ministry of Finance and Financial Supervisory Authority (FSA) brainstormed on ICOs on the basis of European Commission Structural Reform Support the Ministry of Finance applied for funding of a project „Opening Estonian Regulatory Framework for Innovative Technical Solutions“, which is targeted to developing a favorable legal framework for crowdfunding and alternative infrastructure. The Commission granted the funds for the project appointing EBRD as the main service provider. EBRD will procure publicly for the required financial technology expert and legal expert. The aim of the procurement will be to analyze and submit ideas, suggestions and proposals to amend the legal acts.

Topics covered in the above mentioned project has a potential overlap with the need to bring legal certainty to ICOs and consequently, these initiatives should be coordinated. As the next step it is foreseen that relevant stakeholders should take the lead in drafting Best Practices for ICOs based on international standards. This could be followed by FSA’s guidelines and Ministry of Finance leading the process of amending the relevant legal acts.

Extra:
Complimentary snacks and beverages are available.