In The News

Top UK Cybersecurity Agency Takes Big Step For Blockchain

Law360

20 Jan 2017

Susan McLean, of counsel in the London office of Morrison & Foerster and a member of the Technology Transactions Group, was quoted in the article “Top UK Cybersecurity Agency Takes Big Step For Blockchain”, published by Law360, following a paper issued by The European Union Agency for Network and Information Security (which assists EU countries and the European Commission in meeting the requirements of network and information security in present and future legislation) that investigates some of the cybersecurity risks around distributed ledger technology, also known as blockchain.

Ms. McLean commented, “In addition to a focus on anti-money laundering and fraud tools, the report raises the issues of interoperability of protocols and legal provisions and tools for implementing privacy compliance. In particular, it recommends the financial services industry, in cooperation with the regulators, define what is to be kept confidential in order to remain compliant with regulatory requirements. In a public ledger, all counterparties would be able to gain access, and deletion of information would be difficult to implement.”

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