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BITS OF BLOCKS
BLOCKCHAIN, LAW AND REGULATION
Steven Pettigrove, Partner, Piper Alderman
Michael Bacina, Partner, NXT Law
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Tokenisation, tested: Australia drops Project Acacia report
The Reserve Bank of Australia (RBA) has announced the findings of Project Acacia, a collaborative research initiative between the RBA and the Digital Finance Cooperative Research Centre (DFCRC) that sought to explore the role of tokenised finance in Australia’s wholesale asset market. The final report provides a detailed and practical exploration of how tokenised finance could reshape wholesale markets in Australia. Drawing on 20 industry-led use cases, the report demonstra
May 284 min read


Place your bets: Regulators tussle over the future of prediction markets
Predictions markets have seen a huge rise in users with sites like Polymarket and Kalishi raising large funding rounds and experiencing exponential growth. The speed with which these offerings have grown has started to run into regulatory hurdles however, and last Friday, regulators in Tennessee sent a cease-and-desist letter to Polymarkets, Crypto.com and Kalshi, alleging that their predictions markets were in fact unlicensed gambling. The same day Kalshi commenced lega
Jan 144 min read


That's one small shard for man, one giant leap for blockchain-kind
Ethereum upgrades have always been a mix of spectacle and subtlety—Dencun's blobs reshaped Layer 2 economics overnight, Pectra's account tweaks whispered promises of smoother user experiences. But the latest fork: Fusaka, activated on December 3, 2025, at epoch 411,392 (around 21:50 UTC), was more of an under-the-hood upgrade that will have broader and longer impacts. Named after a cosmic nod—"Fulu" for the consensus layer's starry precision, "Osaka" for the Devcon 2025 host
Dec 5, 20252 min read


UK regulator backs fund tokenisation plans
The UK Financial Conduct Authority ( FCA ) has released a huge consultation paper CP25/28 titled 'Progressing Fund Tokenisation' which outlines new rules for fund tokenisation and direct-to-fund dealing. The paper expands on the 2023 Blueprint published by the Investment Association's Technology Working Group, which introduced a phased roadmap for fund tokenisation. The FCA has clearly put a huge amount of work into this document, which defines tokenisation as a method of re
Oct 29, 20254 min read
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