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Repost: Cyber Estate Planning and Administration
Gerry Beyer and Kerri Nipp provide one of the best primers on estate planning for digital assets.
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Repost: Older Adults Are Obsessed With These Five Tech Topics
When discussing important or valuable digital assets, people often think of cryptocurrency and NFTs. But you cannot access them without passwords, passphrases, challenge questions, or other keys. Our passwords are gatekeepers for accessing our bank accounts, retirement accounts, brokerage accounts, and more.
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Repost: RUFADAA, Bitcoin and Fiduciaries: Finding the True Meaning of ‘Digital Assets’ in Estates and Trusts
Stacy Singer and Fred Weber discuss digital assets, and a legal regime that implicates much more than just cryptocurrency and NFTs.
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To custody or not to custody in the wake of FTX, Genesis and Signature Bank
Many are evaluating whether to build internal custody solutions (e.g., BNY Mellon, Fidelity), outsource to third-party custody providers (e.g., US Bank and Nydig), or avoid custody altogether.
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Custody and Regulatory Proposals
Banks face steep challenges to providing basic digital asset services. This pushes consumers towards unregulated nonbank businesses, many of which have lost consumer assets. Regulators should support compliant banks with clear guidance on how they can provide these important services.
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Repost: How to Prepare Your Digital Life for Your Death
Eric Ravenscraft reminds us to use password managers and RUFADAA online tools effectively.
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Repost: Get Your Digital Accounts Ready In Case of Death
Melanie Pinola suggests that we consider dead-man switches and RUFADAA online tools as part of our estate planning.
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RUFADAA & Immunity
When the ULC adopted RUFADAA, they included immunity for any and all indirect liability that could arise from a custodian giving someone access to digital assets under the act.
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Repost: Facebook fights for deceased beauty queen’s privacy
This CNET article by Declan McCullagh highlights an unfortunate consequence of RUFADAA and privacy concerns.