Sullivan & Worcester LLP fields an ‘extremely sophisticated’ New York-based team with a broad blockchain offering. The practice is led by a duo of partners lauded for their ’deep expertise’: Joel Telpner advises on digital sovereign currencies, stablecoins, and tokenized investment products, while Natalie Lederman focuses on the formation, development, and sale of digital assets. Scott Kaufman leads the firm’s emerging companies and venture capital group, and in Boston, Benjamin Armour handles a range of corporate matters, with an emphasis on mergers and acquisitions, private equity, and capital-raising transactions.
Legal 500 Editorial commentary

Profile

Work Department
Corporate/Fintech
Position

Joel is a highly-regarded trailblazer in the fintech, blockchain, and cryptocurrency space. Joel's clients’ size and nature vary from governments, top cryptocurrencies, and large enterprises to smaller startups, who describe him as a "very sharp and very experienced partner" who is "super pragmatic" and can "sort through the chaff and get to the nub of things impressively quickly."

His representative client work includes advising the Marshall Islands in creating digital sovereign currencies; helping to launch ndau, a buoyant stablecoin virtual currency; structuring for Gita Holdings/GreatX a structured, principal-protected tokenized investment product allowing investors to obtain upside exposure to hotel room blocks in various hotel properties; as well as providing regulatory advice to prominent blockchain projects including Aeternity, IOTA, NEM, and Celsius.

Being recognized worldwide as an authority on blockchain and digital asset issues, Joel currently sits on several of the industry’s leading research groups and has spoken extensively worldwide. He works on global regulatory policy initiatives for the Chamber of Digital Commerce, the Blockchain Research Institute, the Global Blockchain Business Council, Wharton Reg@Tech, and the Wall Street Blockchain Alliance’s Legal Working Group. He co-founded the Stablecoin Foundation, a global trade association for stablecoins in October 2018.

Joel was recognized by Chambers and Partners as one of 13 leading Fintech, Blockchain, and Cryptocurrency lawyers in the United States and as one of the six leading Fintech lawyers in the United States by the Legal 500. He was also named Law360’s 2020 Fintech MVP.

His ability to express new and extremely complex legal issues in plain English has made Joel a go-to source for clients as well as conferences and reporters around the world. In the past, he has spoken at the World Economic Forum's Blockchain Central in Davos, Harvard Law School, the Government of the Bahamas and the Carnegie Corporation, and been quoted by the Wall Street Journal, New York Times, Forbes, Reuters, and CoinDesk, among others.

Career

Bar & Court Admissions

  • New York
Memberships
  • Member, Wall Street Blockchain Alliance and its Legal Working Group
  • Member, Digital Currency & Ledge Defense Coalition
  • Member, New York City Bar Futures and Derivatives Regulation Committee
  • Member, ABA Derivatives and Futures Law Committee
  • Faculty Member, Blockchain Research Institute
  • Former Adjunct Professor, NYU Law School, Global Derivatives Regulation
  • Member, Board of Directors, University of Iowa Law School Foundation
  • Member, Editorial Board of the Journal of Structured Finance (published by Institutional Investor)
Education
  • University of Pennsylvania, Wharton School (M.B.A.)
  • The University of Iowa (J.D., with distinction)
  • The University of Iowa (B.B.A.)

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Testimonials

Collated independently by Legal 500 research team.

  • ‘The team is extremely sophisticated, has a good sense of the business aspects of the legal subject matter, and is very responsive.’

  • ‘All of the individuals with whom we worked are excellent lawyers who provide the highest quality of service.’

  • ‘We engage with the Digital or Crypto Asset team at Sullivan.'

  • 'They are always available at short notice and I have yet to present a problem or an issue that they couldn't deal with in a pragmatic way with a successful outcome.'

  • ‘Joel Telpner and Natalie Lederman have deep experience, a global outlook, and a fast and effective service. Mike Sullivan is a great negotiator and a pragmatic problem solver when conflict arises. Greatly value his level-headed approach.’

  • 'Their knowledge and experience is unparalleled in the sector as they have been established in the space before anyone else.'

Key clients

  • Inspiration is Everything, Inc.
  • Music.com
  • Decentraland
  • Panther Protocol
  • Cosimo
  • The Sandbox
  • Bitstamp
  • ISFS AG
  • Block Media Solutions
  • Fenix 360 Pte Ltd.
  • Virtual Media Group USA, LLC

Work highlights

Advising Music.com on developing a platform for issuing and trading Non-Fungible Tokens (NFTs) that will initially be developed by musicians and bans for their fans and others in the music ecosystem.
Advising COSIMO X fund in 2019 as a venture capital fund that issued its fund interests to investors in the form of digital tokens.
Advising Fenix 360 Pte Ltd. (“Fenix”) in connection with its acquisition by DUET Acquisition Corp and certain regulatory issues concerning the FENIX token, which is the Fenix platform’s native currency.