CSG RSS Feedhttp://csglaw.wiseadmin.biz/?t=39&format=xml&stylesheet=rss2_New&directive=0&records=20en-us25 Sep 2022 00:00:00 -0800firmwisehttp://blogs.law.harvard.edu/tech/rss3 CSG Law Attorneys Recognized Among ROI-NJ 2022 Influencers: People of Colorhttp://csglaw.wiseadmin.biz/?t=40&an=129094&format=xml<p>Chiesa Shahinian &amp; Giantomasi PC (CSG Law) congratulates <a href="https://www.csglaw.com/biographies/junie-hahn">Junie Hahn</a>, <a href="https://www.csglaw.com/biographies/demetrice-r-miles">Demetrice Miles</a> and <a href="https://www.csglaw.com/biographies/aiyana-a-goldberg">Aiyana Goldberg</a> for being named among <em>ROI-NJ&rsquo;s</em> 2022 Influencers: People of Color List &ndash; a recognition of New Jersey&rsquo;s most impactful and influential people of color.</p> <p>Junie, a Member of the firm&rsquo;s Corporate &amp; Securities Group, serves as the firm&rsquo;s point person for Triple Five in its development and operation of American Dream and he has extensive experience in a wide range of corporate transactions.</p> <p>Demetrice, who joined CSG Law this past summer, is a highly respected real estate attorney with more than 25 years of experience working as a special counsel for various public entities including the City of Newark, the Housing Authority of the City of Newark, New Jersey Schools Development Authority, the Borough of Carteret, Carteret Redevelopment Agency, the Township of West Orange, East Orange Housing Authority, among others.</p> <p>Aiyana, who was recognized among <em>ROI-NJ&rsquo;s</em> People of Color: Next Generation list, is a first-generation Cuban who focuses her practice on real estate, land use and related transactional matters. Her practice also includes Alcoholic Beverage Control law, where she has experience with ABC licensing and enforcement matters.</p> <p>To view the full <em>ROI-NJ</em> 2022 Influencers: People of Color list, please click <a href="https://www.roi-nj.com/2022/09/22/roi-influencers/people-of-color/2022-people-of-color/roi-influencers-people-of-color-2022-our-annual-celebration-of-the-incredible-talent-and-leadership-found-throughout-the-nations-most-diverse-state/">here</a>.</p> <hr /> <p style="text-align: center;">Visit <a href="https://www.csglaw.com/award-methodology">csglaw.com/award-methodology</a> for additional details on the selection process for the above-mentioned recognitions.</p>News22 Sep 2022 00:00:00 -0800http://csglaw.wiseadmin.biz/?t=40&an=129094&format=xmlStrafford: Development of Industrial Real Estate and Distribution Centershttp://csglaw.wiseadmin.biz/?t=40&an=129063&format=xml<p>Join CSG Law&rsquo;s Lisa A. John-Basta for a Strafford CLE webinar on Thursday, September 22, from 1:00 &ndash; 2:30 PM. The program entitled, &ldquo;Development of Industrial Real Estate and Distribution Centers,&rdquo; will advise real estate counsel on the current legal issues in industrial properties. Panelists will discuss trends in this surging area of real estate related to the expansion of e-commerce, warehousing, and logistics facilities.</p>Event22 Sep 2022 00:00:00 -0800http://csglaw.wiseadmin.biz/?t=40&an=129063&format=xmlNew Jersey Cannabis Regulatory Commission Issues Long-Awaited Guidance on Establishing Workplace Impairmenthttp://csglaw.wiseadmin.biz/?t=40&an=129055&format=xml<p>In February 2021, the New Jersey Cannabis Regulatory, Enforcement Assistance, and Marketplace Modernization Act (&ldquo;NJCREAMMA&rdquo;) legalized the use of recreational marijuana for adults over the age of 21. As a result, while NJCREAMMA still allows employers to prohibit employees from using, being impaired by, or possessing cannabis&nbsp;in the workplace, employers can no longer take adverse action against an employee solely because an individual has used, or not used, cannabis off duty. Given that cannabinoid metabolites can result in a positive drug test even if the employee is not currently under the influence of cannabis, NJCREAMMA modified the term &ldquo;drug test&rdquo; to include both (1) a scientifically reliable objective testing method and (2) a physical evaluation conducted by an individual certified as a Workplace Impairment Recognition Expert. However, with no WIRE certification standards yet in place, employers have had no clear guidance on what objective signs and symptoms to look for in a physical evaluation to support an adverse employment action against an employee for working while impaired &ndash; until now.<br /> <br /> On September 9, 2022, the New Jersey Cannabis Regulatory Commission (the &ldquo;Commission&rdquo;) issued long-awaited guidance on &ldquo;Workplace Impairment&rdquo; (the &ldquo;Guidance&rdquo;) for employers to utilize while the Commission continues to formulate and approve standards for WIRE certifications. The Guidance provides that employers may designate an interim staff member to assist with making determinations of suspected cannabis use or impairment during work hours. This employee should be sufficiently trained to determine impairment and qualified to complete a Reasonable Suspicion Observation Report, which documents the behavior, physical signs, and evidence that support the employer&rsquo;s determination that an employee is reasonably suspected of being under the influence of cannabis at work. Alternatively, employers may utilize a third-party contractor.&nbsp; The Guidance further provides a State Reasonable Suspicion Observation Report, located <a href="https://www.nj.gov/cannabis/documents/businesses/Business%20Resources/Workplace%20Impairment%20Guidance%20Sample%20Form.pdf">here</a>, as an example form that can be used by employers to document findings from the physical evaluation. The Guidance also advises employers to establish a standard operating procedure for completing such a report for suspicion of any substance use or abuse, not just cannabis use.<br /> <br /> In conducting the physical examination associated with the Reasonable Suspicion Observation Report, the Guidance advises that employers may use a cognitive impairment test, a scientifically valid, objective, consistently repeatable, standardized automated test of an employee&rsquo;s impairment, and/or an ocular scan, to demonstrate physical signs or evidence of substance use or impairment.<br /> <br /> Importantly, the Guidance reaffirms that, if it is determined that any of the provisions of NJCREAMMA result in a provable adverse impact on an employer subject to the requirements of a federal contract or federal law, the employer may comply with the specific protocols and obligations set forth in the federal contract or established by federal law.<br /> <br /> In light of the Guidance, employers may wish to contact counsel to implement strategies consistent with the Guidance for preparing procedures to complete Reasonable Suspicion Observation Reports. In determining who should conduct the physical evaluation, employers should keep in mind that the person must act without bias and be capable of making fair assessments and observations when completing the Reasonable Suspicion Observation Report to avoid allegations of discriminatory practices.<br /> <br /> Employers should also review their drug test policies to ensure compliance with NJCREAMMA and the Guidance. For example, employers will want to revisit pre-employment drug testing to ensure they are not barring applicants for using cannabis without the necessary signs of impairment on the job, including removing cannabis from a pre-employment drug screen altogether.&nbsp; Until the Commission issues its WIRE certification standards, employers should follow the Guidance closely to ensure they are complying with the law and only taking adverse employment actions against those reasonably believed to be currently impaired or under the influence of cannabis at work.</p>Client Alert19 Sep 2022 00:00:00 -0800http://csglaw.wiseadmin.biz/?t=40&an=129055&format=xmlPatricia K. Costello Named to New Jersey's "Best 50 Women in Business" by NJBIZhttp://csglaw.wiseadmin.biz/?t=40&an=129049&format=xml<p><a href="http://csglaw.wiseadmin.biz/biographies/patricia-costello">Patricia K. Costello</a>, Managing Member of Chiesa Shahinian &amp; Giantomasi PC (&ldquo;CSG Law&rdquo;) and a retired judge, has been named a 2022 honoree of <em>NJBIZ&rsquo;s</em> Best 50 Women in Business Awards program, which recognizes &ldquo;women who have made a significant impact on New Jersey business and the community.&rdquo;</p> <p>Pat joins a number of CSG Law attorneys recognized by <em>NJBIZ</em> in previous &ldquo;Best 50 Women in Business&rdquo; classes &ndash; including <a href="http://csglaw.wiseadmin.biz/biographies/susan-reach-winters">Susan Reach Winters</a> (2007), <a href="http://csglaw.wiseadmin.biz/biographies/catherine-wells">Catherine Wells</a> (2009), <a href="http://csglaw.wiseadmin.biz/biographies/michelle-schaap">Michelle Schaap</a> (2011), <a href="http://csglaw.wiseadmin.biz/biographies/rhonda-carniol">Rhonda Carniol</a> (2012),&nbsp;<a href="http://csglaw.wiseadmin.biz/biographies/dorit-kressel">Dorit Kressel</a> (2013), <a href="http://csglaw.wiseadmin.biz/biographies/roxanna-hammett">Roxanna Hammett</a> (2015), <a href="http://csglaw.wiseadmin.biz/biographies/gemma-m-giantomasi">Gemma Giantomasi</a> (2019), <a href="http://csglaw.wiseadmin.biz/biographies/danielle-m-corcione">Danielle Corcione</a> (2020) and <a href="http://csglaw.wiseadmin.biz/biographies/lisa-a-john-basta">Lisa John-Basta</a> (2021).</p> <p>Pat was named CSG Law&rsquo;s Managing Member earlier this year, becoming the first woman to serve as the leading executive at the firm since its founding 50 years ago. Pat oversees the day-to-day operations of the firm which today enjoys more than $96 million in revenues, 175 attorneys and more than 300 employees overall, with offices in New Jersey and New York. She also works closely with the Executive Committee to develop and implement strategies to achieve organizational goals and objectives, while also ensuring that the highest level of care is taken in serving clients.</p> <p>Before joining CSG Law, Pat served for more than 25 years as a New Jersey Superior Court Judge, including 10 years as the Assignment Judge in Essex County. During her tenure as Assignment Judge, she supervised all the county&rsquo;s trial and municipal courts, including more than 100,000 filings per year, 1,000 employees and a $55 million annual budget.</p> <p>To view the full list of 2022 <em>NJBIZ</em> Best 50 Women in Business honorees, please click <a href="https://njbiz.com/njbiz-honors-2022s-best-50-women-in-business/">here</a>.</p> <hr /> <p style="text-align: center;">Visit <a href="https://www.csglaw.com/award-methodology">csglaw.com/award-methodology</a>&nbsp;for additional details on the selection process for the above-mentioned recognitions.</p>News16 Sep 2022 00:00:00 -0800http://csglaw.wiseadmin.biz/?t=40&an=129049&format=xml4 CSG Law Attorneys Named to 2022 New York Metro Super Lawyers listhttp://csglaw.wiseadmin.biz/?t=40&an=129036&format=xml<p>Chiesa Shahinian &amp; Giantomasi PC (CSG Law) is pleased to announce that four attorneys have been selected for inclusion in the 2022 edition of New York Metro <em>Super Lawyers</em>. <a href="https://www.csglaw.com/biographies/matthew-e-foreman">Matthew E. Foreman</a> was recognized with this year&rsquo;s <em>Super Lawyer</em> distinction, while <a href="https://www.csglaw.com/biographies/samuel-newbold">Samuel Newbold</a>, <a href="https://www.csglaw.com/biographies/christopher-j-reilly">Christopher J. Reilly</a> and <a href="https://www.csglaw.com/biographies/michael-j-mouridy">Michael J. Mouridy</a> were tapped as <em>Rising Stars</em>.</p> <p>Matt, who joined the firm in September 2020, was again awarded the <em>Super Lawyer</em> recognition for 2022 in the Tax area. He provides counsel on a broad range of tax issues to ensure clients understand the implications of their operations and transactions, comply with federal, state, and local tax laws and regulations, reduce the risk of a tax audit, and improve efficiency by eliminating unnecessary business structures. He was named a Super Lawyer Rising Star in 2018, 2019 and 2021.</p> <p>Sam, Chair of CSG Law&rsquo;s Immigration Law Group, was selected for inclusion in the 2022 edition of <em>Super Lawyers &ndash; Rising Stars</em>, which recognizes the top 2.5 percent of lawyers under the age of 40 or have been in practice for ten years or less. Sam, who has been acknowledged as a Rising Star in Immigration since 2014, represents companies from across the country and multinational organizations spanning the globe, providing counsel on employment-based immigration matters as well as corporate compliance best practices. He has developed a robust emerging companies&rsquo; practice, serves as a member of CSG Law&rsquo;s Alternative Capital team, and manages the firm&rsquo;s EB-5 practice.</p> <p>Christopher, who joined the firm in February 2021, was tapped as a <em>Rising Star</em> for Surety. Chris, an associate with the Fidelity &amp; Surety and Litigation Groups, advises and represents sureties, owners, design professionals, contractors and developers in all aspects of surety and construction law. He has extensive experience representing clients on matters related to performance and payment bonds, professional liability, design defects, breaches of contract, delays, mechanic&rsquo;s liens, property damage, and contract negotiations.</p> <p>Michael, who joined the firm in January, was included in this year&rsquo;s <em>Rising Stars</em> list for Real Estate. Michael is an associate with the Real Estate, Development &amp; Land Use Group who represents major institutional and commercial lenders in real estate loan transactions involving a wide variety of financial structures, including acquisition, bridge, construction, and permanent financing. He also has experience representing construction lenders for affordable multifamily housing and economic development projects, as well as financial institutions in warehouse lending transactions, structured as master repurchase facilities.</p> <p>Every year, the research team at <em>Super Lawyers</em>, which is a service of the Thomson Reuters Legal division, takes on a multi-phase selection process. This includes a statewide survey of lawyers, independent evaluation by the attorney-led research staff, a peer review by practice area, and a good-standing and disciplinary check.</p> <hr /> <p style="text-align: center;">Visit <a href="https://www.csglaw.com/award-methodology">csglaw.com/award-methodology</a> for additional details on the selection process for the above-mentioned recognitions.</p>News15 Sep 2022 00:00:00 -0800http://csglaw.wiseadmin.biz/?t=40&an=129036&format=xmlJewish Law Symposium: The Ethics of Cancel Culture and Redemptionhttp://csglaw.wiseadmin.biz/?t=40&an=128948&format=xmlCSG Law&rsquo;s <a href="https://www.csglaw.com/biographies/jeffrey-chiesa">Jeffrey S. Chiesa</a> will participate in the Jewish Law Symposium&rsquo;s upcoming program entitled, &ldquo;The Ethics of Cancel Culture and Redemption,&rdquo; on Tuesday, September 13 at 5:00 PM. Jeff will join panelists Karen Kessler, Rabbi Simon Jacobson and moderator, Rabbi Shalom D. Lubin.<br /> <br /> For more information and registration, please <a href="https://www.jewishlawsymposium.com/">click here</a>.<br />Event13 Sep 2022 00:00:00 -0800http://csglaw.wiseadmin.biz/?t=40&an=128948&format=xmlThe Case for Decentralized Exchangeshttp://csglaw.wiseadmin.biz/?t=40&an=129018&format=xml<p><u><strong>Crypto Exchanges and Bankruptcy<br /> </strong></u><br /> From March 2020 through November 2021, the price of Bitcoin increased from $3,000 to an all-time high of $69,000. As with all asset classes, however, a rise in value doesn&rsquo;t last forever, and Bitcoin today trades in the low $20,000 range. This latest collapse of the Bitcoin price has caused a wave of insolvency threats and bankruptcy filings, putting billions of dollars of investors&rsquo; coins at risk. <br /> <br /> When a corporate entity files for bankruptcy, its creditors are separated into classes, depending on the types of claims they hold against the bankrupt entity. The class in which a creditor is placed determines the order of distribution and amount of money that creditor may recover from a pool of the bankrupt entity&rsquo;s assets, known as the &ldquo;bankruptcy estate&rdquo;. Distribution to creditors can be accomplished through a Chapter 7 liquidation of the bankrupt entity&rsquo;s assets and wind-down of its operations, or through a Chapter 11 plan of reorganization by which the entity survives, reorganizes and pays its creditors a percentage owed over time. Generally, after payment of costs to administer the bankruptcy estate, senior classes, such as creditors with perfected liens against the bankrupt entity&rsquo;s assets, get paid first, while junior classes such as unsecured creditors are paid last from whatever is left after senior classes get paid in full, often leaving unsecured creditors with pennies on the dollar, or nothing at all. Typically, equity interests&mdash;shareholders&mdash;receive no value. This structure caused considerable panic in the cryptocurrency space when, on May 10, 2022, the biggest centralized cryptocurrency exchange in the United States, Coinbase, filed its quarterly report with the Securities and Exchange Commission. In its filing, Coinbase declared that, in the event of a bankruptcy, all of the cryptocurrency which investors hold in their wallets on the exchange may become part of Coinbase&rsquo;s bankruptcy estate, and the investors may be treated as general unsecured creditors. This nightmare for investors prompted Coinbase&rsquo;s CEO to immediately issue a statement to reassure investors and prevent a run on the exchange, claiming Coinbase was not in any danger of filing for bankruptcy.<br /> <br /> <u><strong>Frozen Wallets And Uncertainty<br /> </strong></u> <br /> While Coinbase has not filed for bankruptcy despite the recent downturn in the cryptocurrency market, many exchanges and crypto-related financial entities have not been so fortunate. In early June of this year, centralized cryptocurrency exchange and lending platform Celsius Network announced a freeze of all customers&rsquo; account withdrawals and transfers of cryptocurrency to prevent a total collapse of the exchange. Later in June, Singapore-based crypto hedge fund Three Arrows Capital became insolvent, and a British Virgin Islands court has ordered its assets to be liquidated. Three Arrows Capital owed cryptocurrency brokerage Voyager Digital Ltd. over $660,000,000, and its insolvency caused Voyager to also suspend all withdrawals of customers&rsquo; funds, and eventually file for bankruptcy protection itself on July 5. As of September 13, Voyager is attempting to sell its assets pursuant to section 363 of the Bankruptcy Code, but it is highly unlikely that its customers will be able to recover the full value of their investments once the sale is complete. To top off the recent spate of cryptocurrency exchange collapses, on July 4, Singapore-based exchange Vauld announced a freeze on all withdrawals, trades, and deposits, while it explores bankruptcy options. These entities have hundreds of thousands of customers between them, with billions of dollars&rsquo; worth of cryptocurrency frozen until further notice.<br /> <br /> <u><strong>Trading on a Decentralized Exchange (&ldquo;DEX&rdquo;) Remedies These Concerns<br /> </strong></u><br /> A DEX is an exchange where investors maintain complete control over their cryptocurrency without relying on a third-party intermediary to hold their coins or conduct trades. No account creation or identity verification is required. Trading is accomplished peer-to-peer directly from one investor&rsquo;s wallet to another. The key aspect of a DEX is that an investor must first connect their own wallet to the exchange, which they can disconnect at any time, rather than use the exchange&rsquo;s wallet to hold their coins. A cryptocurrency wallet is not a wallet in the traditional sense, because the coins are not actually stored on the wallet. Instead, a cryptocurrency wallet holds the &ldquo;public and private keys&rdquo;, which allow an investor to access their cryptocurrency that is stored on the blockchain. The &ldquo;public keys&rdquo; are like a bank account number. They are the address to where cryptocurrency can be sent. The &ldquo;private keys&rdquo; are like a password or pin number, and allow cryptocurrency to be transferred from one wallet to another. If a person obtains the private keys to a wallet, they can transfer the cryptocurrency out of that wallet. As long as an investor keeps their private keys secret, they maintain sole access and control over their cryptocurrency because no one can transfer coins from that wallet without the private key.<br /> <br /> A cryptocurrency wallet can be in the form of a physical object, similar to a USB stick that connects to the computer. Some popular examples of physical wallets are a Ledger Nano device, or a Trezor device. These are known as &ldquo;cold wallets&rdquo; because they aren&rsquo;t connected to a computer unless the investor physically plugs them in. Consequently, when a cold wallet is held in storage, it is not connected to the internet and cannot be hacked into. Alternatively, wallets can be in the form of a computer application, or a &ldquo;hot wallet&rdquo; such as Metamask. These wallets are also safe because the investor is provided with a private key when initiating creation of the wallet. Wallets on a centralized exchange also have public and private keys. However, the main difference is that the account holder on a centralized exchange is not the only person who can access their wallet. The centralized exchange operators can also access their wallet at any time and for any reason. Moreover, a hacker of a centralized exchange has access to other investors&rsquo; cryptocurrency because everyone&rsquo;s coins are held in a centralized pool of assets.<br /> <br /> <u><strong>The Conclusion<br /> </strong></u> <br /> The DEX is &ldquo;trustless&rdquo;, in that no investor need rely on a third-party intermediary at any time to conduct trades. Due to this distinction, a DEX arguably is a much safer and more effective, albeit a more complicated, method of trading cryptocurrency. This trading protection offered by a DEX, especially if centralized exchanges continue to file bankruptcy at the pace seen over the last two months, will become even more significant. Learning how to use a DEX is a necessity for any serious crypto investor concerned about security for its investment.<strong><br /> </strong></p>Client Alert13 Sep 2022 00:00:00 -0800http://csglaw.wiseadmin.biz/?t=40&an=129018&format=xmlNew Jersey State Bar Association Announces Leadership Academy Fellows for 2022-2023http://csglaw.wiseadmin.biz/?t=40&an=129014&format=xml<p>Chiesa Shahinian &amp; Giantomasi (&quot;CSG Law&quot;) is pleased to announce that <a href="https://www.csglaw.com/biographies/chelsea-p-jasnoff">Chelsea Jasnoff</a> and <a href="https://www.csglaw.com/biographies/aiyana-a-goldberg">Aiyana Goldberg</a> have been chosen as members of The New Jersey State Bar Association's 2022-2023 class of Leadership Academy.&nbsp;</p> <p>The NJSBA Leadership Academy Fellows are chosen from attorneys throughout the private, public, and nonprofit sectors. Throughout this program, the Fellows participate in training and development courses aimed at arming them with the skills necessary to become the next generation of leaders of the NJSBA. </p> <p>Chelsea is an Associate practicing within the firm's Litigation and Employment department, focusing on commercial litigation and disputes along with defending both public and private employers against discrimination and wrongful discharge claims. Aiyana is an Associate in the firm's Real Estate, Development &amp; Land Use Group, where she focuses her practice on real estate, land use and related transactional matters.</p> <p>The class is expected to graduate in May, 2023 at the NJSBA Annual Meeting and Convention in Atlantic City.&nbsp;</p>News12 Sep 2022 00:00:00 -0800http://csglaw.wiseadmin.biz/?t=40&an=129014&format=xmlPearlman Association: Affirmative Claims and the Suretyhttp://csglaw.wiseadmin.biz/?t=40&an=128943&format=xmlMembers of CSG Law's Fidelity &amp; Surety Group, <a href="https://www.csglaw.com/biographies/jonathan-bondy">Jonathan Bondy</a> &amp; <a href="https://www.csglaw.com/biographies/brian-kantar">Brian Kantar</a>, will participate in the 28th Annual Pearlman Conference on Thursday, September. Jonathan and Brian will moderate the &quot;Affirmative Claims&quot; and the &quot;Surety panel&quot; from 11:15 AM - 12:00 PM.&nbsp;Event08 Sep 2022 00:00:00 -0800http://csglaw.wiseadmin.biz/?t=40&an=128943&format=xmlThe Devastating Impact of Bankruptcy to Crypto Investorshttp://csglaw.wiseadmin.biz/?t=40&an=128952&format=xml<p>Blockchain is one of the fastest evolving, controversial and important technologies of the modern era. Diverse industries recognize the benefits of a decentralized distributed ledger, one whose data is both highly secure and readily accessible to anyone with an internet connection. New blockchain-related companies are created daily, each offering its own cryptocurrency &ldquo;coin&rdquo; with its own specific purpose. The meteoric rise in value of Bitcoin and other cryptocurrencies over the last several years has facilitated tremendous interest in the blockchain sphere, not just for companies or government entities that see the benefit of the technology, but also for the institutional and individual investor who sees the potential for massive profits, returns far exceeding a typical stock trader&rsquo;s ten or even twenty percent return at the end of the year. Cryptocurrencies, in contrast, have increased in value by one-thousand or even ten thousand percent on a regular basis. With such huge investment potential, cryptocurrency may understandably blind investors to the very real risk of a bankruptcy filing, particularly those lacking the tech-savviness to understand and account for the underlying fundamentals of the technology. Recently, that bankruptcy risk has come to roost for crypto investors.</p> <p><u><strong>The Investment Basics</strong></u></p> <p>The initial purchase of cryptocurrency is usually made with widely accepted government-backed currency (&ldquo;fait&rdquo;) to buy the coin, such as U.S. dollars, Euros, etc., currency similar to a stock purchase. The investment strategy is also similar to buying stock. When it comes to the products and services offered by blockchain-related companies, the hope of the investor is that those offerings will become adopted by the masses, increasing the demand, and thus, the value, of the purchased cryptocurrency. And like stock offerings, many cryptocurrencies have a fixed supply. For example, there will only be 21 million Bitcoins in circulation once all are mined. Such a finite supply has a direct correlation to the price, as demand increases.</p> <p><u><strong>The Crypto Exchanges</strong></u></p> <p>Cryptocurrency trading, like stock trading, is largely done on exchanges. The most popular exchanges in the United States are Coinbase and Gemini. These exchanges are convenient and easy to use. They operate under Know Your Client (&ldquo;KYC&rdquo;) standards, so uploading your identification and social security number is usually required to create an account. Once an account is created, the investor simply links their checking account or debit card to their crypto account and purchases coins as they would stocks on E-Trade or Robinhood. Once the coins are purchased, they are held in a &ldquo;wallet&rdquo; on the investor&rsquo;s account. The investor can transfer the coins from one exchange wallet to a wallet on another exchange or to a wallet not linked to any exchange. All kinds of log-in security features and authentications are offered so that investors perceive their coins are safe, particularly from nefarious Internet hackers, but that is not always the case. Moreover, unlike FDIC insured deposits at certain financial institutions, cryptocurrency exchanges enjoy no similar investor protections.</p> <p>Coinbase and Gemini are known as &ldquo;centralized exchanges.&rdquo; For a centralized exchange to operate, it needs liquidity. In other words, there must readily be coins to buy and sell on the exchange. Liquidity is provided either by casual investors who transfer the coins from outside wallets onto their exchange wallets, or by the creators of the cryptocurrency itself. The latter may pay a fee to the exchange and transfers a very large number of coins to that exchange for other people to trade. The key factor in determining whether an exchange is &ldquo;centralized&rdquo; is how cryptocurrency is stored and traded on that exchange.</p> <p><u><strong>Hackers and Bankruptcy Concerns</strong></u></p> <p>On a centralized exchange, investors&rsquo; coins are stored in their designated wallets, but the wallets are ultimately controlled by the operators of the exchange. The system gives the appearance that the coins are held in that investor&rsquo;s personal account on the exchange. That, however, is generally not the case. The coins are actually held in a &ldquo;centralized pool&rdquo; comprising all investors&rsquo; coins. This renders the coins more susceptible to hacking, such as occurred in the recent case of centralized exchange Mt. Gox. Mt. Gox was &ldquo;hacked&rdquo; and more than $460 million in cryptocurrency was stolen from investors&rsquo; wallets in 2014, causing it to file for bankruptcy protection. Investors lost access to their coins for years, while the bankruptcy court sorted through the complicated claims reconciliation process.</p> <p>Moreover, an investor trading on a centralized exchange does not actually trade their cryptocurrency for another cryptocurrency. Rather, trading on a centralized exchange is an exercise in database management, in that the exchange uses an IOU (&ldquo;I owe you&rdquo;) trading system to implement trades. When a trade is complete, the exchange processes the data and reconciles it in the investor&rsquo;s trading history, but it is only a &ldquo;representation&rdquo; of the cryptocurrency traded, similar to a book entry in an account receivable ledger. The trade isn&rsquo;t realized until the coins are in full control of the investor. In other words, an investor&rsquo;s cryptocurrency trade on a centralized exchange is not owned by the investor until the crypto is removed from the exchange or the cryptocurrency converted into fiat currency and deposited to the investor&rsquo;s checking account. If the centralized exchange&rsquo;s management chooses, it can suspend trading of a cryptocurrency at any time, without any regulatory oversight or intervention. Management can also suspend withdrawals of a cryptocurrency at any time, leaving investors without access to their coins. This happens much more often than people realize and is usually associated with a precipitous crash in value of a certain cryptocurrency or, as in recent months, the collapse of the entire cryptocurrency market. To address these existential concerns, decentralized exchanges (&ldquo;DEX&rsquo;s&rdquo;) were created, and their popularity is growing at an exponential rate. The workings and benefits of a DEX will be addressed in Part 2 of this Client Alert.</p> <br /> <strong>For&nbsp; further insight and analysis, please contact your CSG Law attorney or one of the authors below.</strong>Client Alert06 Sep 2022 00:00:00 -0800http://csglaw.wiseadmin.biz/?t=40&an=128952&format=xmlDennis Toft Appointed to the New Jersey Department of Environmental Protection Outdoor Recreation Advisory Committeehttp://csglaw.wiseadmin.biz/?t=40&an=127933&format=xml<p>Chiesa Shahinian &amp; Giantomasi PC (&ldquo;CSG Law&rdquo;) is pleased announced that <a href="https://www.csglaw.com/biographies/dennis-toft">Dennis Toft</a>, chair of the firm&rsquo;s Environmental Law Group, was recently appointed to the New Jersey Department of Environmental Protection&rsquo;s Outdoor Recreation Advisory Committee.<br /> <br /> &ldquo;I&rsquo;m glad to contribute to the Outdoor Recreation Advisory Committee&rsquo;s important work of improving the quality of life for everyone in New Jersey.&rdquo;<br /> <br /> Dennis is a renowned environmental lawyer who provides counsel of all aspects of environmental law, and he is highly regarded as one of the Garden State&rsquo;s leading Brownfields redevelopment practitioners.<br /> <br /> Some of the roles in which he has served include:</p> <ul> <li> <p>Chair of the New Jersey Brownfields and Contaminated Site Remediation Task Force</p> </li> <li> <p>Executive Committee of New Jersey Chamber of Commerce; Environmental Lead for the Board of Trustees</p> </li> <li> <p>Board Member of the NAIOP&rsquo;s New Jersey Chapter</p> </li> <li> <p>Board Member of The Nature Conservancy</p> </li> <li> <p>Trustee of the New Jersey Institute of Technology</p> </li> </ul> <p>In addition to his roles on various committees and organization, Dennis has served on the transition teams of both Gov. Chris Christie and Gov. James McGreevey.</p>News31 Aug 2022 00:00:00 -0800http://csglaw.wiseadmin.biz/?t=40&an=127933&format=xmlIAPP: Negotiating Key Provisions in Vendor Technology Contracts: Mitigating and Managing Vendor Riskshttp://csglaw.wiseadmin.biz/?t=40&an=127845&format=xml<p>Join CSG Law's <a href="https://www.csglaw.com/biographies/michelle-schaap">Michelle A. Schaap</a> on Thursday, August 25th, from 9:00 - 10:30 AM as she presents, &quot;Negotiating Key Provisions in Vendor Technology Contracts: Mitigating and Managing Vendor Risks.&quot; The webinar, hosted by International Association of Privacy Professionals (IAPP), will include: Highlighting the importance for lawyers and privacy specialists to review Service Level Agreements (SLA) for adequacy and measurability and what to look for, factoring in your vendors&rsquo; security and privacy assessments and how best to capture that in the contract, and controlling remote access via on-premise solutions and the cloud.</p>Event25 Aug 2022 00:00:00 -0800http://csglaw.wiseadmin.biz/?t=40&an=127845&format=xmlChamber of Commerce Southern New Jersey: How NJ's New Environmental Regulations Are Impacting Construction & Developmenthttp://csglaw.wiseadmin.biz/?t=40&an=127815&format=xml<p>Over recent years, several new energy and environmental regulations have been enacted that are dramatically impacting construction and development in New Jersey. Join Chair of CSG Law's Environmental Group, <a href="https://www.csglaw.com/biographies/dennis-toft">Dennis M. Toft</a>, on August 23rd, from 8:30 - 10:15 AM as he discusses the state's new Energy Master Plan (EMP), the newly passed Environmental Justice (EJ) law, and much more.</p>Event23 Aug 2022 00:00:00 -0800http://csglaw.wiseadmin.biz/?t=40&an=127815&format=xmlVESTA: Top 10 Divorce Mistakes & Avoiding Themhttp://csglaw.wiseadmin.biz/?t=40&an=127701&format=xml<p>Practice Group Leader of the firm&rsquo;s Family Law Group, <a href="https://www.csglaw.com/biographies/tremain-l-stanley">Tremain L. Stanley</a>, will speak during an upcoming webinar on Tuesday, August 23, from 12:00 &ndash; 1:30 PM. During this confidential session hosted by Vesta, Tremain will discuss common mistakes made during and beyond divorce.</p>Event23 Aug 2022 00:00:00 -0800http://csglaw.wiseadmin.biz/?t=40&an=127701&format=xml52 CSG Law Attorneys Recognized in Best Lawyers in America 2023 Listinghttp://csglaw.wiseadmin.biz/?t=40&an=127811&format=xml<p>Chiesa Shahinian &amp; Giantomasi (&ldquo;CSG Law&rdquo;) is pleased to announce that 52 attorneys from the firm were recognized in <em>The Best Lawyers in America</em>&reg; 2023, representing both New Jersey and New York and marking CSG Law&rsquo;s largest presence in the listing for the second consecutive year. Of the 52 attorneys, 13 lawyers were named to the <em>Best Lawyers: Ones to Watch</em> category.</p> <p>&ldquo;From our seasoned attorneys to our dynamic rising stars, CSG Law&rsquo;s consistent presence on the <em>Best Lawyers in America</em> listing signals to the marketplace our stalwart commitment to bringing together the region&rsquo;s foremost legal minds to anticipate legal trends and serve the needs of our clients,&rdquo; CSG Law Managing Member Patricia K. Costello said. &ldquo;Congratulations to my deserving colleagues and thank you for your outstanding efforts.&rdquo;<br /> <br /> The trio of CSG Law attorneys recognized as &ldquo;Lawyer of the Year&rdquo; for the Newark metro area by <em>Best Lawyers</em> for 2023 and their respective practice areas are:</p> <ul> <li><a href="https://www.csglaw.com/biographies/sam-della-fera-jr">Sam Della Fera, Jr.</a> &ndash; Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law</li> <li><a href="https://www.csglaw.com/biographies/jennifer-m-porter">Jennifer M. Porter </a>&ndash; Real Estate Law</li> <li><a href="https://www.csglaw.com/biographies/catherine-wells">Catherine P. Wells </a>&ndash; Employment Law &ndash; Management</li> </ul> Moreover, the 39 CSG Law attorneys listed to&nbsp;<em>Best Lawyers</em> and their respective practice areas include:<br /> <ul> <li><a href="https://www.csglaw.com/biographies/matthew-beck">Matthew E. Beck</a> &ndash; Criminal Defense: General Practice, Criminal Defense: White-Collar, Litigation - Regulatory Enforcement (SEC, Telecom, Energy)</li> <li><a href="https://www.csglaw.com/biographies/michelle-bergeron-spell">Michelle Bergeron Spell</a> &ndash; Tax Law, Trusts and Estates</li> <li><a href="https://www.csglaw.com/biographies/mitchell-berkey">Mitchell S. Berkey </a>&ndash; Real Estate Law</li> <li><a href="https://www.csglaw.com/biographies/morris-bienenfeld">Morris Bienenfeld</a> &ndash; Corporate Law</li> <li><a href="https://www.csglaw.com/biographies/jonathan-bondy">Jonathan Bondy</a> &ndash; Commercial Litigation, Construction Law, Litigation - Construction</li> <li><a href="https://www.csglaw.com/biographies/jeffrey-chiesa">Jeffrey S. Chiesa</a> &ndash; Commercial Litigation, Criminal Defense: White-Collar</li> <li><a href="https://www.csglaw.com/biographies/danielle-m-corcione">Danielle M. Corcione</a> &ndash; Criminal Defense: White-Collar</li> <li><a href="https://www.csglaw.com/biographies/sam-della-fera-jr">Sam Della Fera, Jr.</a> &ndash; Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law</li> <li><a href="https://www.csglaw.com/biographies/adam-derman">Adam K. Derman</a> &ndash; Commercial Litigation, Litigation - Labor and Employment, Litigation - Real Estate, Litigation - Trusts and Estates</li> <li><a href="https://www.csglaw.com/biographies/adam-friedman">Adam P. Friedman</a> &ndash; Litigation &ndash; Construction</li> <li><a href="https://www.csglaw.com/biographies/tricia-gasparine">Tricia Gasparine</a> &ndash; Public Finance Law</li> <li><a href="https://www.csglaw.com/biographies/francis-j-giantomasi">Francis J. Giantomasi</a> &ndash; Real Estate Law</li> <li><a href="https://www.csglaw.com/biographies/arthur-goldstein">Arthur S. Goldstein</a> &ndash; Commercial Litigation, Litigation - Real Estate, Litigation - Trusts and Estates</li> <li><a href="https://www.csglaw.com/biographies/junie-hahn">Junie Hahn</a> &ndash; Corporate Law</li> <li><a href="https://www.csglaw.com/biographies/dorit-kressel">Dorit Kressel</a> &ndash; Public Finance Law</li> <li><a href="https://www.csglaw.com/biographies/kenneth-laptook">Kenneth N. Laptook</a> &ndash; Commercial Litigation</li> <li><a href="https://www.csglaw.com/biographies/fredric-lavinthal">Fredric P. Lavinthal</a> &ndash; Litigation - Real Estate, Real Estate Law</li> <li><a href="https://www.csglaw.com/biographies/john-r-lloyd">John R. Lloyd</a> &ndash; Real Estate Law</li> <li><a href="https://www.csglaw.com/biographies/steven-a-loeb">Steven A. Loeb</a> &ndash; Tax Law</li> <li><a href="https://www.csglaw.com/philip-a-markowitz">Philip A. Markowitz</a> &ndash; Real Estate Law</li> <li><a href="https://www.csglaw.com/biographies/marie-mathews">Marie Mathews</a> &ndash; Commercial Litigation</li> <li><a href="https://www.csglaw.com/biographies/michael-naughton">Michael J. Naughton</a> &ndash; Environmental Law, Litigation - Environmental</li> <li><a href="https://www.csglaw.com/biographies/robert-nies">Robert E. Nies</a> &ndash; Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law, Commercial Litigation, Litigation - Bankruptcy</li> <li><a href="https://www.csglaw.com/biographies/a-pearlson">A. Ross Pearlson</a> &ndash; Commercial Litigation, Health Care Law, Litigation -Regulatory Enforcement (SEC, Telecom, Energy)</li> <li><a href="https://www.csglaw.com/biographies/jennifer-m-porter">Jennifer M. Porter</a> &ndash; Land Use and Zoning Law, Real Estate Law</li> <li><a href="https://www.csglaw.com/biographies/michelle-schaap">Michelle A. Schaap</a> &ndash; Privacy and Data Security Law</li> <li><a href="https://www.csglaw.com/biographies/david-schlossberg">David L. Schlossberg</a> &ndash; Tax Law, Trusts and Estates</li> <li><a href="https://www.csglaw.com/biographies/daniel-schwartz">Daniel A. Schwartz</a> &ndash; Corporate Law, Health Care Law, Mergers and Acquisitions Law</li> <li><a href="https://www.csglaw.com/biographies/armen-shahinian">Armen Shahinian</a> &ndash; Bet-the-Company Litigation, Commercial Litigation, Litigation - Banking and Finance</li> <li><a href="https://www.csglaw.com/biographies/laurence-smith">Laurence M. Smith</a> &ndash; Banking and Finance Law, Corporate Law</li> <li><a href="https://www.csglaw.com/biographies/tremain-l-stanley">Tremain L. Stanley</a> &ndash; Family Law</li> <li><a href="https://www.csglaw.com/biographies/edward-b-stevenson">Edward B. Stevenson</a> &ndash; Mergers and Acquisitions Law</li> <li><a href="https://www.csglaw.com/biographies/daniel-a-swick">Daniel A. Swick </a>&ndash; Corporate Law, Tax Law, and Estates</li> <li><a href="https://www.csglaw.com/biographies/dennis-toft">Dennis M. Toft</a> &ndash; Environmental Law, Litigation - Environmental</li> <li><a href="https://www.csglaw.com/biographies/thomas-trautner">Thomas J. Trautner Jr.</a> &ndash; Real Estate Law</li> <li><a href="https://www.csglaw.com/biographies/john-valeri">John G. Valeri, Jr. </a>&ndash; Environmental Law</li> <li><a href="https://www.csglaw.com/biographies/thomas-m-walsh">Thomas M. Walsh</a> &ndash; Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law, Litigation &ndash; Bankruptcy</li> <li><a href="https://www.csglaw.com/biographies/catherine-wells">Catherine P. Wells</a> &ndash; Employment Law &ndash; Management, Labor Law &ndash; Management, Litigation - Labor and Employment</li> <li><a href="https://www.csglaw.com/biographies/scott-zuber">Scott A. Zuber</a> &ndash; Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law</li> </ul> <p><em>Best Lawyers: Ones to Watch</em> awards extraordinary lawyers who have been in private practice for less than 10 years in the United States. Like traditional <em>Best Lawyers</em> awards, this recognition is based entirely on peer review. Thirteen attorneys from CSG Law were honored in this category, with three new additions for 2023:</p> <ul> <li><a href="https://www.csglaw.com/biographies/alice-mb-anderson">Alice M.B. Anderson</a> &ndash; Health Care Law</li> <li><a href="https://www.csglaw.com/biographies/james-s-arrabito">James Arrabito </a>&ndash; Environmental Law, Litigation - Environmental</li> <li><a href="https://www.csglaw.com/biographies/paula-i-brueckner">Paula I. Brueckner</a> &ndash; Intellectual Property Law</li> <li><a href="https://www.csglaw.com/biographies/michelle-j-delaney">Michelle J. Delaney</a> &ndash; Corporate Law</li> <li><a href="https://www.csglaw.com/biographies/laura-r-feitelson">Laura R. Feitelson</a> &ndash; Tax Law, Trusts and Estates</li> <li><a href="https://www.csglaw.com/biographies/francis-m-giantomasi">Francis M. Giantomasi</a> &ndash; Commercial Litigation, Criminal Defense: White-Collar</li> <li><a href="https://www.csglaw.com/biographies/brigitte-gladis">Brigitte M. Gladis</a> &ndash; Commercial Litigation, Criminal Defense: White-Collar</li> <li><a href="https://www.csglaw.com/biographies/chelsea-p-jasnoff">Chelsea P. Jasnoff</a> &ndash; Commercial Litigation</li> <li><a href="https://www.csglaw.com/biographies/daniel-kim">Daniel Kim</a> &ndash; Land Use and Zoning Law, Real Estate Law, Tax Law</li> <li><a href="https://www.csglaw.com/biographies/amanda-miceli">Amanda Miceli</a> &ndash; Commercial Litigation</li> <li><a href="https://www.csglaw.com/biographies/brian-oneill">Brian P. O'Neill </a>&ndash; Commercial Litigation, Criminal Defense: White-Collar</li> <li><a href="https://www.csglaw.com/biographies/nicole-c-tracy">Nicole C. Tracy</a> &ndash; Commercial Litigation, Litigation &ndash; Labor and Employment</li> <li><a href="https://www.csglaw.com/biographies/elizabeth-yoo">Elizabeth C. Yoo</a> &ndash; Corporate Law, Public Finance Law</li> </ul> <p>Since first published in 1983, <em>Best Lawyers</em> has become universally regarded as the definitive guide to legal excellence, with lists compiled based on an exhaustive peer-review evaluation.</p> <p>For additional information about the <em>Best Lawyers&rsquo;</em> methodology, please visit <em>Best Lawyers&rsquo;</em> <a href="https://www.bestlawyers.com/methodology">website</a>.</p> <hr /> <p align="center">Visit <a href="https://www.csglaw.com/award-methodology">csglaw.com/award-methodology</a> for additional details on the selection process for the above-mentioned recognitions.</p>News18 Aug 2022 00:00:00 -0800http://csglaw.wiseadmin.biz/?t=40&an=127811&format=xmlNJ Chamber of Commerce: DEI Professionals Roundtablehttp://csglaw.wiseadmin.biz/?t=40&an=127679&format=xml<p>CSG Law's <a href="https://www.csglaw.com/biographies/jason-holt">Jason Holt</a> will join the New Jersey Chamber of Commerce's DEI Virtual Discussion Series as a panelist on Wednesday, August 17 at 9:00 AM. Panelists will discuss how their positions are structured, the types of initiatives they're leading, and the ways they're supporting their company's commitment to DEI.</p>Event17 Aug 2022 00:00:00 -0800http://csglaw.wiseadmin.biz/?t=40&an=127679&format=xml