What do cryptocurrency issuers mean when they say their cryptocurrency is “backed” by some other asset, such as fiat currency?

In a recent New York Law Journal column, Robert Schwinger, a partner in the New York office of Norton Rose Fulbright, discusses some of the legal issues arising from claims by cryptocurrency issuers that their currency is “backed” by another asset.

Regulation Tomorrow has been following the fintech area for several years and Norton Rose Fulbright has a useful database of materials for those who are interested in the area. Readers interested in learning more about the blockchain can sign up for updates on our Fintech law and regulation page.