Toronto’s Blockchain Law Firm

Blockchain. Cryptocurrency. IT Contracts. Litigation.

We have experience navigating complex legal territory, for clients and courts.

 
 
 
 
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Overview

Our clients include public companies, high net-worth crypto holders, and startups in the blockchain industry.

We provide blockchain law advice, and cross-border legal management of blockchain operations. We also litigate for our clients in court.

Chetan Phull, Founder of Smartblock Law, is an international speaker on cross-border legal management of blockchain operations. He has given blockchain law seminars for the Ontario Bar Association and Dubai government, and has upcoming seminars in Toronto, London, Frankfurt, Dubai, Abu Dhabi, and Buffalo.

Chetan is a blockchain law instructor with York University and Osgoode PD, and an expert legal panelist at various industry events. He has recorded a blockchain law podcast with the London School of Economics, and has been interviewed by numerous lawyer magazines and news outlets on cryptocurrency issues.

 
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Blockchain Law Podcast: ICO Visions featuring Chetan Phull on blockchain law (Jun 8/18, 70 mins total): Part 1 | Part 2 | Part 3 | Part 4.

In the works: blog series on virtual currency AML regulations, after Canada's new draft AML regulations are finalized and passed as law.

 
Featured
Securities Registration Requirements for Blockchain Businesses
Securities Registration Requirements for Blockchain Businesses

Blockchain companies in the business of security tokens must register with the securities regulator. Exchanges must formally apply to carry on business as an exchange.

Chetan Phull · July 17, 2018

Prospectus Exemption Options for Blockchain Businesses
Prospectus Exemption Options for Blockchain Businesses

The prospectus requirement for ICOs / ITOs is expensive and time consuming. It is important to understand the available Canadian prospectus exemptions, because they can be used repeatedly to raise funds.

Chetan Phull · July 17, 2018

Foreign Issued Tokens Traded Over-the-Counter in Canada
Foreign Issued Tokens Traded Over-the-Counter in Canada

When tokens flow into Canada on the secondary market, certain trading activity could subject the corporation and its management team to a regulatory and/or criminal proceeding.

Chetan Phull · July 17, 2018

“Security Tokens” – A Developing Concept
“Security Tokens” – A Developing Concept

The “investment contract” definition for security tokens in the U.S. and Canada has a new face. This article considers the developing definition, its impact on the SAFT, and further complexities with the definition of “security” and SAFT regulation in Canada.

Chetan Phull · July 17, 2018

Overview of Securities Regulation in Canada
Overview of Securities Regulation in Canada

In the specific context of digital asset transactions, securities law regulates how tokens and coins are being issued, distributed and sold. This article provides an overview of the Canadian securities regulatory environment for such transactions.

Chetan Phull · July 17, 2018

Financial Institution Regulations
Financial Institution Regulations

Is your Canadian cryptocurrency business regulated by the Bank Act? Or perhaps the Trust and Loan Companies Act? Has it considered becoming a member of the Canadian Payments Association?

Chetan Phull · Apr 26, 2018

Cryptocurrency and Monetary Instruments
Cryptocurrency and Monetary Instruments

Cryptocurrency cannot be the subject of an “inland” monetary instrument, but may be capable of a “foreign” monetary instrument. For example, a hardware wallet fashioned into a physical gift card.

Chetan Phull · Apr 26, 2018

Cross-Border Crypto Related Litigation
Cross-Border Crypto Related Litigation

An overview of an Ontario’s court’s jurisdiction in cross-border disputes, with discussion of recent Canadian cases involving international cryptocurrency businesses.

Chetan Phull · Apr 26, 2018

Enforcing Cryptocurrency Contracts
Enforcing Cryptocurrency Contracts

How to enforce a cryptocurrency-denominated contract, or defend against such enforcement.

Chetan Phull · Apr 26, 2018

Cryptocurrency Can’t Be “Money” in Canadian Commercial Law
Cryptocurrency Can’t Be “Money” in Canadian Commercial Law

At present, a contract denominated in cryptocurrency can only be legal in Canada if cryptocurrency is not “money”. Here’s why.

Chetan Phull · Apr 26, 2018

What's Next in Crypto-Tax?
What's Next in Crypto-Tax?

The Standing Senate Committee on Banking, Trade and Commerce is due to review its 2015 report on cryptocurrencies this year (2018).

Chetan Phull · Feb 23, 2018

Crypto-Exchange/Wallet Tax Issues
Crypto-Exchange/Wallet Tax Issues

Material tax-purposed questions for cryptocurrency exchanges, wallets and users imply an important issue regarding resulting trusts and tax reporting obligations.

Chetan Phull · Feb 23, 2018

Crypto as Specified Foreign Property
Crypto as Specified Foreign Property

Cryptocurrency as “specified foreign property” under the Income Tax Act is problematic, because of how cryptocurrency is located in fact, held, and accessed.

Chetan Phull · Feb 23, 2018

The CRA’s Present Position on Crypto-Tax
The CRA’s Present Position on Crypto-Tax

Survey of the CRA’s current position on various cryptocurrency income tax and GST-HST issues.

Chetan Phull · Feb 23, 2018

Crypto-KYC in Canada
Crypto-KYC in Canada

An overview of upcoming KYC requirements for businesses "dealing in virtual currencies".

Chetan Phull · Feb 8, 2018

Virtual Currency Regulations in Canada: Will Your Blockchain Business Be Affected?
Virtual Currency Regulations in Canada: Will Your Blockchain Business Be Affected?

We anticipate that Canadian regulations on virtual currencies will be released soon. Will Your Blockchain Business Be Affected?

Chetan Phull · Feb 8, 2018

The Law of ICOs/ITOs: Simplified
The Law of ICOs/ITOs: Simplified

Initial Coin Offerings, or Initial Token Offerings (“ICOs/ITOs”), have become a popular method for companies to raise capital. This is a general guide for when ICOs/ITOs will trigger securities laws in Ontario.

Chetan Phull · Jan 25, 2018

Toronto May Soon Drive Virtual Currency Laws Across Canada
Toronto May Soon Drive Virtual Currency Laws Across Canada

The acceptance of Councillor Kelly's proposal on January 31, 2018 may serve as a catalyst for rapid legal development in the virtual currency space, with Toronto having initiated the process.

Chetan Phull · Jan 16, 2018

Your Blockchain Business Needs a Blockchain Lawyer
Your Blockchain Business Needs a Blockchain Lawyer

The law is changing. Blockchain activities are being regulated. Legal compliance is—and will increasingly be—essential to the functioning and profitability of your blockchain business.

Chetan Phull · Jan 4, 2018

Speaking & Media Engagements

Past Speaking Engagements:

Upcoming Speaking Engagements:

 

Videos:

Services Offered

We service tech companies, and tech-sector talent, in the following areas:

 
 

Chetan Phull

Founder / Blockchain & IT Lawyer

 
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  • B.Mus., University of Toronto

  • J.D., Queen's University

  • LL.M., University College London

  • Clerkship, Nova Scotia Court of Appeal

  • Called to the Bars of Ontario, New York State and Massachusetts

Chetan Phull is a lawyer with software development experience. He is the founder of Smartblock Law Professional Corporation, a law firm in Toronto focused in blockchain, cryptocurrency, IT contracts, and litigation. The firm’s clients range from start-ups to public companies for complex engagements, including cross-border legal/operational strategy, litigation, and representation before the Ontario Securities Commission.

Chetan is also an international speaker on legal management of cross-border blockchain operations. He is the sole speaker for such a seminar series in Dubai, Abu Dhabi, London, and Frankfurt, run by Forte Markets, and has U.S. speaking dates in 2019. To date, Chetan has taught blockchain law seminars for the Ontario Bar Association, Osgoode Professional Development, the BlockchainHub at York University, and the Government of Dubai Legal Affairs Department.

He has also authored numerous blockchain law compilations (see above), which Toronto Starts has declared: “fantastic legal resource[s] for the cryptocurrency community.” Chetan has been published on cryptocurrency issues in the Canadian Bar Association National Magazine, and quoted in the Law Times, Canadian Lawyer Magazine, Bitcoin Magazine, and the Vancouver Sun. He has also been featured in a 4-part podcast by ICOVisions. Most recently, Chetan was interviewed on blockchain law issues for a podcast of the LSE Alumni Association London (release date TBA).

Prior to founding Smartblock Law, Chetan worked for five years in Toronto as a litigator and corporate counsel, for large private corporations and institutional clients including TD Insurance. His corporate counsel experience includes regulatory compliance, governance, high-value contracts, and contentious corporate meetings. He also has trial, application, and motion experience in the Superior Court and Commercial List, as well as experience preparing materials for appeal before the Ontario Court of Appeal.

Chetan’s work also appears in the Journal of International Arbitration, and the Journal of International Banking Law & Regulation. His publication in the former law journal was translated into Thai by the Thai Arbitration Institute.

Chetan is admitted to the Bars of Ontario, New York State, and Massachusetts (2013). He is a former law clerk of the Nova Scotia Court of Appeal (2011-2012), with a Juris Doctor from Queen’s University (2010), and a Master of Laws from University College London (2011). Prior to his legal studies, he also completed a Bachelor of Music in Composition from the University of Toronto (2007).

 
 

Idan Levy

Student-At-Law

 
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  • B.A. (Hons) Humanities., York University

  • J.D., Bond University 

  • Passed the Ontario Bar exams and NCA exams

Idan works as an articling student in all practice areas of Smartblock Law tailored to blockchain and cryptocurrency clients. He regularly attends lawyer education seminars on blockchain law involving the firm, including one recent event held by the Ontario Bar Association.

Idan has over two years’ experience in software marketing with Spar Group Inc., where he designed and implemented guerilla marketing campaigns for large software and technology brands, including Fitbit, Nest, August Smart Lock, and Electronic Arts. In this role he also designed and led in-house seminars on brand strategies.

During law school, Idan worked part-time for a wholesale nutrition company in Australia. That experience exposed him to various issues in the law of corporations, commercial contracts, consumer protection, and KYC. In this role he also gained valuable experience drafting legal documents and submissions, and managing client relationships. Idan also took practicums in Alternative Dispute Resolution, where he navigated complex legal problems, and prioritized the business and legal interests of his clients.

Idan has a J.D. from Bond University Law School, and a B.A. (Honours) from York University. He is fluent in French and Hebrew.