Lighthouse
Lighthouse on Digital Assets

Table of
Contents.

References are to paragraph (¶) numbers. Each chapter opens at its overview paragraph.

The Detailed Contents lists every section and subsection.

Part IFoundations

ChapterTitleBegins at
1Digital Assets and the Law: Scope, Taxonomy and Terminology¶ 101
2The Technology for Lawyers: Ledgers, Keys, Wallets and Smart Contracts¶ 201
3Digital Assets as Property in the United States¶ 301
4Comparative Characterization: England and Wales and the Common-Law World¶ 401
5Conflict of Laws: Situs, Governing Law and the UNIDROIT Principles¶ 501

Part IICommercial Law: Control, Transfer and Security Interests

ChapterTitleBegins at
6UCC Article 12 and Controllable Electronic Records¶ 601
7Security Interests in Digital Assets: Attachment, Perfection and Priority¶ 701
8Tokenized Securities, Article 8 and Real-World Assets¶ 801

Part IIICustody and Control

ChapterTitleBegins at
9Custody Models: Self-Custody, Shared Control and Third-Party Custody¶ 901
10The Custodial Relationship: Bailment, Trust or Debt¶ 1001
11Qualified Custodians, Trust Companies and Chartered Institutions¶ 1101
12Staking, Lending, Rehypothecation and Yield Products¶ 1201

Part IVFiduciaries and Digital Assets

ChapterTitleBegins at
13Fiduciary Access: RUFADAA, Terms of Service and Online Tools¶ 1301
14Trustee Duties over Digital Assets: Prudence, Diversification and the Duty to Secure¶ 1401
15Holding Digital Assets in Trust: Directed Trusts and Drafting¶ 1501
16Fiduciary Liability, Exculpation and Loss of Keys¶ 1601

Part VEntities, Foundations and DAOs

ChapterTitleBegins at
17Holding Digital Assets Through Limited Liability Companies¶ 1701
18Foundations and Purpose Trusts¶ 1801
19The Unincorporated DAO: Legal Status and Member Liability¶ 1901
20DAO LLCs: Wyoming, the Marshall Islands and Other Wrappers¶ 2001

Part VIEstates and Succession

ChapterTitleBegins at
21Estate Planning for Digital Assets¶ 2101
22Key Succession: Inheritance Mechanisms and Recovery Arrangements¶ 2201
23Estate Administration, Valuation and Transfer Taxes¶ 2301

Part VIICreditors, Enforcement and Recovery

ChapterTitleBegins at
24Creditor Remedies against Digital Assets¶ 2401
25Tracing, Freezing Orders and Cross-Border Recovery¶ 2501
26Voidable Transfers and Asset Protection¶ 2601

Part VIIIInsolvency

ChapterTitleBegins at
27Digital Assets in Bankruptcy: Property of the Estate and Customer Claims¶ 2701
28Exchange and Lender Failures: Celsius, FTX and Their Predecessors¶ 2801
29Valuation Dates, Distributions in Kind and Avoidance Actions¶ 2901

Part IXTax and Information Reporting

ChapterTitleBegins at
30Federal Income Taxation of Digital Assets¶ 3001
31Broker Reporting: Section 6045 and Form 1099-DA¶ 3101
32International Reporting: CARF, DAC8, FATCA, FBAR and Form 8938¶ 3201

Part XAnti-Money Laundering, Sanctions and the Travel Rule

ChapterTitleBegins at
33AML Obligations of Virtual Asset Service Providers¶ 3301
34The Travel Rule and Sanctions Compliance¶ 3401

Part XIThe Regulatory Perimeter

ChapterTitleBegins at
35Securities Regulation: Howey, Token Offerings and Trading Platforms¶ 3501
36Commodities, Derivatives and Market-Structure Legislation¶ 3601
37Stablecoins and State Regulation¶ 3701
38The European Union: MiCA and the Transfer of Funds Regulation¶ 3801
39The Gulf and the Offshore Financial Centers¶ 3901
40Asia-Pacific: Singapore, Hong Kong and the Philippines¶ 4001

Appendices

AppendixTitleBegins at
AGlossary of Technical and Legal Terms¶ A01
BSelected Statutory Texts: UCC Article 12, RUFADAA and the Wyoming DAO Supplement¶ B01
CModel Trust Provisions for Digital Assets¶ C01
DModel Entity Provisions: LLC Operating Agreements and DAO LLC Articles¶ D01
ECustody Agreements: Due-Diligence and Negotiation Checklists¶ E01
FDigital-Asset Inventory and Succession Memorandum Forms¶ F01
GComparative Jurisdiction Tables¶ G01

Plans and pricing