Regulation of Innovative Technologies Blockchain Artificial Intelligence and Quantum Computing Rosario Girasa All Chapter

Regulation of Innovative Technologies:
Blockchain, Artificial Intelligence and

Quantum Computing Rosario Girasa
Visit to download the full and correct content document:
https://ebookmass.com/product/regulation-of-innovative-technologies-blockchain-artifi
cial-intelligence-and-quantum-computing-rosario-girasa/
Regulation of
Innovative Technologies
Blockchain, Artificial Intelligence
and Quantum Computing
Rosario Girasa · Gino J. Scalabrini
Regulation of Innovative Technologies
Rosario Girasa • Gino J. Scalabrini
Regulation
of Innovative
Technologies
Blockchain, Artificial Intelligence
and Quantum Computing
Rosario Girasa Gino J. Scalabrini
Goldstein Academic Center 203 Brewster, NY, USA
Pace University
Pleasantville, NY, USA
ISBN 978-3-031-03868-6 ISBN 978-3-031-03869-3 (eBook)

https://doi.org/10.1007/978-3-031-03869-3
© The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer
Nature Switzerland AG 2022
This work is subject to copyright. All rights are solely and exclusively licensed by the
Publisher, whether the whole or part of the material is concerned, specifically the rights of
translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on
microfilms or in any other physical way, and transmission or information storage and retrieval,
electronic adaptation, computer software, or by similar or dissimilar methodology now
known or hereafter developed.
The use of general descriptive names, registered names, trademarks, service marks, etc. in this
publication does not imply, even in the absence of a specific statement, that such names are
exempt from the relevant protective laws and regulations and therefore free for general use.
The publisher, the authors and the editors are safe to assume that the advice and information
in this book are believed to be true and accurate at the date of publication. Neither the
publisher nor the authors or the editors give a warranty, expressed or implied, with respect to
the material contained herein or for any errors or omissions that may have been made.
The publisher remains neutral with regard to jurisdictional claims in published maps and
institutional affiliations.
Cover illustration: Image courtesy of batuhan toker / Alamy Stock Photo
This Palgrave Macmillan imprint is published by the registered company Springer Nature
Switzerland AG.
The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Rosario Girasa—To my wife, Eleanor, for her endless encouragement,
patience, and understanding.
Gino S. Scalabrini—To my mother, Joanna. I will always remain incredibly
appreciative for the love, support, and guidance. Everything I accomplished,
we accomplished together.
Preface
It is difficult to write a text concerning the latest technologies because

they are evolving almost daily. New programs, apps, scientific break-
throughs, health issues, and a multitude of other causes and events almost
render information outdated. Although the evolution of technology is
occurring at an exponential pace, nevertheless, the within work will be
mainly current because of the nature of the inquiry, that is, regulatory
enactments which occur much more gradually than technological break-
throughs. Thus, it is hoped by the authors that the text will serve as an
introduction to the innumerable legislative and regulatory enactments
that affect technology.
The authors come from diverse backgrounds of law, political science,
law enforcement, and medicine, all of which have enabled an in-depth
analysis and exposition of how governments are addressing changes that
have become disruptive to traditional modes of governance and supervi-
sion of their respective economies.
We are grateful to numerous persons who are indispensable in permit-
ting the writing and publication of this work. Included among them are
the following: The amazing editors and assistants at Palgrave Macmillan,
including Sarah Hills, Rachael Ballard, Tula Weiss, Dhanalakshmi
Muralidharan, Raghupathy Kalynaraman and the many persons who labor
without recognition at Palgrave Macmillan who enable us to advance our
thinking for the betterment of humankind.
vii
viii PREFACE
A cautionary note: Statements and opinions are those of the authors

based upon their research and personal interpretation of research materi-
als. The text is not meant to render legal advice; rather, if issues arise that
may require legal intervention or interpretation, the readers are urged to
seek competent counsel in that regard.
Pleasantville, NY Rosario Girasa

Brewster, NY Gino J. Scalabrini
Table of Cases
Alice Corp. v. CLS Bank Intern, 573 U.S. 208 (2014)

AMG Capital Management, LLC v. FTC, 593 U.S. ___ (2021)
Apple, Inc. v. Pepper, 139 S. Ct. 1514 (2019)
Backpage.com v. Dart, 807 F.2d 229 (7th Cir. 2015)
Bilski. V. Kappos, 561 U.S. 593 (2010)
Blumenthal v. Drudge, 992 F. Supp. 44 (D.D.C. 1998)
Carpenter v. U.S., 585 U.S. ___ (2018)
CFTC v. HDR Global Trading Ltd., No. 1:20-cv-08132 (S.D.N.Y. Oct.
10, 2020)
CFTC v. Hunt and Hecroft, No. 4:18-cv-00807-0 (N.D.Tx., Sept.
18, 2018)
CFTC v. XBT Corp. SARL d/b/a/ First Global Credit, CFTC Docket No.
3-19592 (Oct. 31, 2019)
Commonwealth v. McCarthy, 350 Mass 150 (SJC MA 2019)
Delfino v. Agilent Technologies, 145 Cal. App. 4th 790 (2006)
Epic Games, Inc. v. Google LLC, No. 3:20-cv-05671 (N.D. Ca. Aug.
13, 2020)
Force v. Facebook, Inc., 934 F.3d 53 (2d Cir. 2019)
FTC Docket, No. 182 3107, Final Approval of Settlement (Dec. 18, 2019)
FTC v. Dluca, No. 18-cv-60369 Moore (S.D. Fl. Feb. 20, 2018)
FTC v. Facebook, Inc., No. 1:20-cv-03590-JEB (D.D.C. Jan. 13, 2021)
FTC v. Kohen and Nix, FTC Docket Nos. C4693 and C-4694 (Dec.
18, 2019)
FTC v. Liberty Chevrolet, No. 1:20-cv-03945-PAE (S.D.N.Y., filed May
22, 2020)
ix
x TABLE OF CASES
Gallagher v. Bitcointalk.org, 3:18-cv-05892 (N.D. Ca. Sept. 24, 2018)

Gonzalez v. Google LLC (9th Cir., No. 18-16700, 6/22/21)
Gottschalk v. Benson, 409 U.S. 63 (1972)
Google LLC v. Oracle America, Inc., 593 U.S. __ (2020)
Green v. AOL, 318 F.3rd 465 (3rd Cir. 2003)
Griswold v. Connecticut, 381 U.S. 479 (1965)
Hy Cite Corp. v. badbusinessbureau.com, 297 F. Supp. 2d 1154
(W.D. Wis. 2004)
In re Cambridge Analytica, LLC., FTC Docket No. 9383 (Dec. 18, 2019)
In re Coinflip, Inc., CFTC Docket No. 15-29 (2015)
In re Eric Powers, FinCEN Docket No. 2019-01 (2019)
In re Larry Dean Harmon, FinCEN Docket No. 2020-2 (2020)
In re Tax Liabilities of John Does, No. 3:16-cv-06658-JSC (N.D. Ca. Nov.
11, 2016)
In re Tax Liabilities of John Does, No. 1:21-mc-91201-RGS (N.D. Ma.
March 30, 2021)
In re Tax Liabilities of John Does, No. 21-cv-02201-JSV (N.D. Ca. March
30, 2021)
In re In In re Western Union Financial Services, Inc., FinCEN Docket No.
2017-01 (2017)
Loving v. Virginia, 388 U.S. 1, 1967
Mayo Collaborative Services v. Prometheus Laboratories, 566 U.S. 66 (2012)
McDonald v. Symphony Bronzeville Park, 2020 IL App. (1st) 192398
MCW, Inc. v. badbusinessbureau.com, No. Civ.A.3:02–CV–2727–G
(D.C.N.D. Tx, April 19, 2004)
Naruto v. Slater, 888 F.3d 418 (9th Cir. 2018)
Neal v. Fairfax C’ty Police Dep’t, 849 S.E. 2d 123 (2020)
New York State v. Coinseed, Inc. et al. (N.Y. Sup. Ct., May 6, 2021)
Roe v. Wade, 410 U.S. 113 (1973)
Rivera v. Google, 238 F.Supp. 3d (N.D. Ill. 2017)
Rosenbach v. Six Flags Entm’t Corp., 2019 IL 123186
SEC v. Cutting, No. 2:21-cv-00107-BLW (D. Idaho, March 5, 2021)
SEC v. Elmaani, No. 1:20-cv-10376 (S.D.N.Y., Dec. 9, 2020)
SEC v. Int’l Loan Network, Inc., 968 F.2d 1304 (D.C. Cir. 1992)
SEC v. Krstic and DeMarr, No. 21-civ-0529 (E.D.N.Y. Feb. 1, 2021)
SEC v. LBRY, Inc., No. 1:21-cv-00260 (D.C.N.H. March 29, 2021)
SEC v. Qin, No. 20-civ-10849-LGS (S.D.N.Y., filed Dec. 22, 2020)
SEC v. REcoin. Group Foundation Group Foundation, et al., Civil Action
No. 17-cv-05725 (E.D.N.Y., filed Sep. 29, 2017)
TABLE OF CASES xi
SEC v. W.J. Howey Co., 328 U.S. 293 (1946)

SEC v. Ripple Labs, Inc. Civ. 20 Civ. 10832 (S.D.N.Y. Dec. 22, 2020)
SEC v. W.J. Howey Co., 328 U.S. 293 (1946)
Stratton Oakmont, Inc. v. Prodigy Services Co., 1995 WL 323710 (N.Y. Sup.
Ct. 1995)
United American Corp. v. Bitmain, 1:18-cv-25105 (S.D. Fl. Dec. 2, 2018)
U.S. v. Chatrie, No. 3:19-cr-130 (E.D. Va. Sept. 17, 2019)
U.S. v. Coinbase, Inc., No. 17-cv-01431-JSC (N.D. Cal. Nov. 28, 2017)
U.S. v. Facebook, Inc., No. 1:19-cv-02184 (D.D.C., July 24, 2019)
U.S. v. Google LLC, No. 1:20-civ-03010 (D.D.C., Oct. 20, 2020)
U.S. v. Harmon, No. 19-cr-395 (BAH) (D.D.C., July 24, 2020)
U.S. v. Hayes, No. 1:20-00500-JGK (S.D.N.Y. Sept. 21, 2020)
U.S. v. Jones, 565 U.S. 400 (2012)
U.S. v. Lord, No. 15-00240-01/02 (W.D. La., April 20, 2017)
U.S. v. Microsoft Corp., 253 F.3d 34 (D.C. Cir., 2001)
U.S. v. 113 Virtual Currency Accounts, No. 1:20-cv-00606 (D.D.C.,
March 2, 2020)
U.S. v. Ross, No. 2:17-cr-00160 (E.D. Pa. March 28, 2017)
U.S. v. Sterlingov, No. 1:21-MJ-00400 (D.D.C., April 26, 2021)
U.S. v. Tian Yinyin and Li Jiadong, No. 1:20-cr-00052 (D.D.C. May
7, 2018)
U.S. v. Tomkins, No. 3:15-cr-0020-WHO (N.D. Ca. April 15, 2015)
U.S. v. Yang, No. 18-10341 (9th Cir. May 2020)
U.S. v. Zaslavskiy, No. 1:17-cr-00647 (D.C.E.D. filed Nov. 21, 2017)
Table of U.S. Statutes, Presidential
Executive Orders and European Union
Directives
Federal Statutes
Allow States and Victims to Fight Online Sex Trafficking Act of 2017,
Pub. L. 115-164 (2017)
American Choice and Innovation Online Act, HR 3816, 117th Cong.
2021–2022
Anti-Money Laundering Act, Division F of the National Defense
Authorization Act for fiscal year 2021 (the “NDAA”) (Dec. 11, 2020)
Anti-Terrorism Act of 1990, 18 U.S.C. §2333(a) (1990)
Aviation and Transportation Security Act (ATSA), Pub. L. 107-71, 115
Stat. 597 (2001)
Bank Secrecy Act, 31 U.S.C. §5311 (1970)
Children’s Online Privacy Protection Act of 1998, 15 U.S.C. §6501 (1998)
Clayton Antitrust Act, 15 U.S.C. §§12-27 (1914)
Commodity Exchange Act, 7 U.S.C. §1 (1936)
Communications Decency Act of 1996 (Title V of the Telecommunications
Act of 1996), 47 U.S.C. §230 (1996)
Copyright Act of 1976, Pub. L. No. 94-553, 90 Stat. 2541 (1976)
Defend Trade Secrets Act of 2016, 18 U.S.C. §1836 (2016)
Dodd-Frank Act, 12 U.S.C. §5301 (2010)
Economic Espionage Act of 1996 (EEA), 18 U.S.C. §90 (1996)
Eliminate Barriers to Innovation Act of 2021, HR 1602
Federal Trade Commission Act, 15 U.S.C. §45 (1914)
Foreign Intelligence Surveillance Act, 50 U.S.C. §§ 1801–1885c
xiii
xiv TABLE OF U.S. STATUTES, PRESIDENTIAL EXECUTIVE ORDERS…
Genetic Information Discrimination Act of 2008 (GINA), Pub.

L. 110-233 (2008)
Gramm-Leach-Bliley Act (Financial Services Modernization Act of 1999),
Pub. L. 106–102 (1999)
Health Information Technology for Economic and Clinical Health
(HITECH) Act (Title XIII of the American Recovery and Reinvestment
Act of 2009 (Pub. L. 111-5)
Health Insurance Portability and Accountability Act, Pub.
L. 104-191 (1974)
Investment Advisers Act, 15 U.S.C. §80b
John S. McCain National Defense Authorization Act for Fiscal Year 2019,
Pub. L. No. §§ 115-232 (2019)
Leahy-Smith America Invents Act, Pub. L. §112-19 (2012)
National Defense Authorization Act for Fiscal Year 2021, Pub. L. No.
116-283 (2021)
National Quantum Initiative Act, 15 U.S.C. §8801 (2018)
Privacy Act of 1974, 5 U.S.C. §552a (1974)
Prohibition of Unlicensed Money Transmitting Businesses, 18
U.S.C. §1960
Registration of Money Transmitting Businesses, 31 U.S.C. §5330
Securities Act of 1933, 15 U.S.C. §77a (1933)
Securities Exchange Act of 1934, 15 U.S.C. §78a (1934)
Sherman Antitrust Act of 1890, 15 U.S.C. §§1-38 (1890)
Stop Enabling Sex Traffickers Act of 2017 (SESTA), and Allow States and
Victims to Fight Online Sex Trafficking Act (FOSTA) FOSTA-SESTA,
Pub. L. 115-164 (2018)
State Statutes
California: Consumer Privacy Act of 2018, Cal. Civ. Code §1798 (2018)
California: Privacy Rights for California Minors in the Digital World, Calif.
Bus. & Prof. Code §§22580-22582
California Privacy Rights and Enforcement Act, Cal. Civ. Code
§1798.111.10
Colorado Protect Personal Data Privacy, SB21-90
Delaware: Prohibition on Online Marketing to Children, Del Code §1204C
Illinois: Biometric Information Privacy Act, 740 ILCA/14 (2008)
Maine: Broadband Internet Access Service Customer Privacy Act, Title
35A, §9301
TABLE OF U.S. STATUTES, PRESIDENTIAL EXECUTIVE ORDERS… xv
Maryland: Personal Information Protection Act-Security Breaches

Notification Requirements, House Bill 1154
Massachusetts: An Act Relative to Consumer Protection from Security
Breaches, H. 4806
Nevada: Internet Privacy Act, 2019, NRS §603A.300
New Jersey: An Act Concerning Disclosure of Breaches of Security and
amending P.L. 2005, c.226 (S.51)
New Jersey, Identity Theft Protection Act, P.L. 1997, c. 172
New York: Stop Hacks and Improve Electronic Data Security Act
(SHIELD Act), Oregon: Consumer Information Protection Act, SB684
Texas: An Act Relating to the Privacy of Personal Identifying Information
and the Creation of the Texas Privacy Protection Advisory
Council, HB 4390
Vermont: Protection of Personal Information: Data Brokers, 9 VSA
§§2430, 2446–2447
Virginia: Consumer Data Protection Act, 2021 H.B. 2301/2021
S.B. 1392
Virginia Government Data Collection and Dissemination Practices Act
(“Data Act”), Code §§ 2.2-3800 to -3809
Washington: An Act Relating to Breach of Security Systems Protecting
Personal Information, SHY 1071
Wyoming: Digital Assets Existing Law, SFO125, c. 0029 (2019)
Presidential Executive Orders (EO)
President William Jefferson Clinton

Exec. Order No. 13145, 3 C.F.R. 13145 (2000)
President Barack Obama

Exec. Order No. 13609, 3 C.F.R. 13609 (2012)
Exec. Order No. 13685, 3 C.F.R. 13685 (2014)
xvi TABLE OF U.S. STATUTES, PRESIDENTIAL EXECUTIVE ORDERS…
President Donald Trump

Exec. Order No. 13859, 84 C.F.R. 3967 (2019)
Exec. Order No. 13959, 85 C.F.R. 73185 (2020)
President Joseph Biden

Exec. Oder No. 14032, 86 C.F.R. 31045 (2021)
Exec. Order No. 14028, 86 C.F.R. 26633 (2021)
European Union Regulations, Directives, Proposals,

and Misc. Documents
Regulations
Council Regulation No. 168/2007 (Feb. 15, 2007) establishing a
European Union Agency for Fundamental Rights
Regulation (EU) 2016/679 of the European Parliament and of the
Council of April 27, 2016 on the protection of natural persons with
regard to the processing of personal data and on the free movement of
such data (the European Data Regulation (GDPR))
Regulation 2019/1020 of the European Parliament and of the Council of
20 June 2019 on market surveillance and compliance of products and
amending Directive 2004/42/EC and Regulations (EC) No 765/2008
and (EU) No 305/2011
Regulation (EU) 2019/1150 of the European Parliament and of the
Council of 20 June 2019 on promoting fairness and transparency for
business users of online intermediation services
Directives
Council Directive 85/374/EEC of 25 July 1985 on the approximation of
the laws, regulations and administrative provisions of the Member
States concerning liability for defective products
Directive 95/45/EC of the European Parliament and of the Council 24
Oct. 1995 on the protection of individuals with regard to the process-
ing of personal data and on the free movement of such data
Directive 2000/31/EC of the European Parliament and of the Council of
8 June 2000 on certain legal aspects of information society services, in
TABLE OF U.S. STATUTES, PRESIDENTIAL EXECUTIVE ORDERS… xvii
particular electronic commerce, in the Internal Market (e-Commerce

Directive)
Directive 2000/43/ of the European Parliament and of the Council of 29
June 2000 implementing the principle of equal treatment between per-
sons irrespective of racial or ethnic origin; the Directive on equal treat-
ment in employment and occupation
Directive 2000/78/EC of the European Parliament and of the Council
on equal treatment between men and women in relation to employ-
ment and occupation
22 May 2001 on the harmonisation of certain aspects of copyright and
related rights in the information society, Official Journal L 167,
22/06/2001 P. 0010–0019
Directive 2002/73/EC of the European Parliament and of the Council
amending Council Directive 76/207/EC on the implementation of
the principle of equal treatment for men and women as regards access
to employment, vocational training and promotion, and working
conditions
29 April 2004 on the enforcement of intellectual property rights (OJ L
157, 30.4.2004)
Council Directive 2004/113/EC implementing the principle of equal
treatment between men and women in the access to and supply of
goods and services; and Directive 2004/113/EC
Directive 2010/13/EU of the European Parliament and of the Council
of 10 March 2010 on the coordination of certain provisions laid down
by law, regulation or administrative action in Member States concern-
ing the provision of audiovisual media services (Audiovisual Media
Services Directive)
Directive 2011/93/EU of the European Parliament and of the Council
of 13 December 2011 on combating the sexual abuse and sexual exploi-
tation of children and child pornography
Directive (EU) 2017/541 of the European Parliament and of the Council
of 15 March 2017 on combating terrorism and replacing Council
Framework Decision 2002/475/JHA and amending Council Decision
2005/671/JHA
Directive (EU) 2019/790 of the European Parliament and of the Council
of 17 April 2019 on copyright and related rights in the Digital Single
Market and amending Directives 96/9/EC and 2001/29/EC
xviii TABLE OF U.S. STATUTES, PRESIDENTIAL EXECUTIVE ORDERS…
Miscellaneous EU Documents
Council of Europe, European Convention on Human Rights, Nov. 4, 1950
Commission Ethics Guidelines for Trustworthy AI, B-1049, April 8, 2019
E.U. Agency for Fundamental Rights, Data Quality and Artificial
Intelligence—mitigating bias and error to protect fundamental rights
(June 11, 2019)
Commission White Paper on Artificial Intelligence: A European Approach
to excellence and trust, COM (2020) 65 final (Feb. 19, 2020)
European Convention, Charter of the Fundamental Rights of the
European Union, Oct. 2, 2000
Commission Proposal for a Regulation of the European Parliament and of
the Council on Contestable and Fair Markets in the Digital Sector
(Digital Markets Act), COM (2020) 842, 2020/0374 (COD), on
December 15, 2020
Commission, EU’s Shaping Europe’s Digital Future
Commission White Paper on Artificial Intelligence: A European Approach
to excellence and trust, COM (2020) 65 final (Feb. 19, 2020)
Commission Joint Communication to the European Parliament, the
European Council, and the Council: A new EU-US agenda for global
change (JOIN (2020) 22 final (Dec. 2, 2020)
Commission proposal for a Regulation of the European Parliament and of
the Council on a Single Market for Digital Services (Digital Services
Act), COM (2020) 825, 2020/0361 (COD), December 15, 2020
Communication from the Commission to the European Parliament, the
Council, the European Economic and Social Committee, and the
Committee of the Regions, Fostering a European approach to Artificial
Intelligence, COM/2021/205 final
Eur. Parl. Doc. Liability of online platforms (PE 365.318, Feb. 2021)
Proposal for a Regulation of the European Parliament and of the Council
Laying Down Harmonised Rules on Artificial Intelligence (Artificial
Intelligence Act) and Amending Certain Union Legislative Acts, COM
(2021) 206 final (April 21, 2021)
Other Publications by Authors
Rosario Girasa (Roy J. Girasa)

Cyberlaw: National and International Perspectives (Prentice-Hall, 2002)
Corporate Governance and Finance Law (Palgrave Macmillan, 2013)
Laws and Regulations of Global Financial Markets (Palgrave
Macmillan, 2013)
Shadow Banking: Rise, Risks, and Rewards of Non-Bank Financial Services
(Palgrave Macmillan, 2018)
Regulation of Cryptocurrencies and Blockchain Technologies (Palgrave
Macmillan, 2018)
Artificial Intelligence as a Disruptive Technology (Palgrave Macmillan, 2020)
Gino J. Scalabrini
The Lie Behind the Lie Detector (with co-author George W. Maschke, 2018)
Contents
1 Overview of Current Innovative Technologies 1
2 Regulation of Blockchain and Cryptocurrencies 15
3 Regulation of Artificial Intelligence 63
4 Critical
Issues Arising from Current and Emerging
Technologies 87
5 States’ Regulation of Artificial Intelligence115
6 Regulation of Antitrust and Intellectual Property Rights145
7 International Regulation of Emerging Technologies179
Conclusion 233
Index235
xxi
Abbreviations
ACP Algorithm change protocol (in NYC, automated decision systems)

ADS Automated driving systems
AGI Artificial general intelligence
AI Artificial intelligence
AICPA American Institute of Certified Public Accountants
ALPR Automated license plate recognition
ANI Artificial narrow intelligence
AP Active participant
ASCII American Standard Code for Information Interchange
ASI Artificial superintelligence
CBDC Central bank digital currency
CCC Computing Community Consortium
CCPA California Consumer Privacy Act of 2018
CEA Commodities Exchange Act
CFPB Consumer Financial Protection Bureau
CFTC Commodity Futures Trade Commission
CISA Cybersecurity and Infrastructure Security Agency
COPPA Children’s Online Privacy Act of 1998
CPA Certified public accountant
CSBS Conference of State Bank Examiners
CSIS Center for Strategic and International Studies
DARPA Defense Advanced Research Projects Agency
DHS Department of Homeland Security
DLT Distributed ledger technology
DOE Department of Energy
DOT Department of Transportation
DTC Direct-to-consumer
xxiii
xxiv ABBREVIATIONS
EC European Commission
EU European Union
FAA Federal Aviation Administration
FATF Financial Action Task Force
FBI Federal Bureau of Investigation
FDA Food and Drug Administration
FDIC Federal Deposit Insurance Corporation
FinCEN Financial Crimes Enforcement Network
FRB Federal Reserve Board
FTC Federal Trade Commission
G7 Group of 7 [leading industrial nations]
GAO Government Accountability Office
GDPR [EU] General Data Protection Regulation
ICE Immigration and Customs Enforcement
ICO Initial coin offering
IEEE Institute of Electrical and Electronics Engineers
IoE Internet of everything
IoT Internet of things
IP Internet protocol
IPR Intellectual property rights
IRS Internal Revenue Service
KYC Know your customer
ML Machine learning
NASA National Aeronautics and Space Administration
NCUA National Credit Union Administration
NIST National Institute of Science and Technology
NLP Natural learning processing
NSCAI National Security Commission and Artificial Intelligence
NSF National Science Foundation
NSTC National Science and Technology Council
OCC Office of Comptroller of the Currency
OECD Organization for Co-operation and Development
OFAC Office of Foreign Assets Control
OMB Office of Management and Budget
OSTP Office of Science and Technology Policy
PRC People’s Republic of China
QC Quantum computing
QIS Quantum Information Science
R&D Research and development
RTF Ransomware Task Force
SaMD Software medical device
SEC Securities and Exchange Commission
ABBREVIATIONS xxv
STEM Science, technology, engineering, and mathematics

TRIPS Trade-Related Agreement on Intellectual Property Rights
UK United Kingdom
ULC Uniform Law Commission
USPTO United States Patent and Trademark Office
USSC United States Supreme Court
VA Virtual assets
VASP Virtual assets service provider
CHAPTER 1
Overview of Current Innovative

Technologies
Introduction
This chapter introduces the reader of this text to the latest technological
developments that are and will affect profoundly virtually the entire land-
scape of human activity. Rarely has any scientific- or technology-driven
innovation encompass almost all facets of endeavors, whether examined
from scientific, sociological, political, philosophical, or legal viewpoints.
The advent of the internet, coupled with miniaturization and other devel-
opments, has revolutionized every aspect of how we behave daily. As with
almost all scientific and technological developments there are great bene-
fits but also enormous potential risks that call for governmental and non-
governmental interventions. This text proposes to examine the major
developments of the emerging technologies and discuss how governmen-
tal authorities globally, especially in the United States (US), are adjusting
to the new realities. The focus will be mainly on the two current major
technologies, namely blockchain and artificial intelligence (AI), and a dis-
cussion of the more futuristic quantum computing (QC).
Stages of Technological Developments

Twenty-First-Century Technological Developments
In every generation, older persons reflect thoughtfully on how life was
simpler decades previously. With rare exceptions, scientific progress
© The Author(s), under exclusive license to Springer Nature 1

Switzerland AG 2022
R. Girasa, G. J. Scalabrini, Regulation of Innovative Technologies,
https://doi.org/10.1007/978-3-031-03869-3_1
2 R. GIRASA AND G. J. SCALABRINI
evolved rather slowly but decisively causing some disruption in the social
fabric of the particular societies wherein there are winners and losers, with
the latter encompassing individuals generally unable or unwilling to adapt
to current changes modifying their world. Whereas such changes occurred
noticeably over a period of decades or even centuries, most observers
today have noted that the speed of changes has heightened dramatically so
that it is almost impossible to predict which occurrences will cause major
disruptions beyond the next half decade. Consider how home and office
use of the computer, cell phones, and the internet have altered how most
people live their daily lives. Consider also how the advent of bitcoin, which
was established in 2009 and was based on blockchain technology, has
changed societal discernment concerning the nature of money. At the
present time, physicists are exploring ways in which to implant data on
subatomic particles so that conceivably, in the near future, all of the world’s
data and knowledge could be placed on photonic particles with immediate
analyses thereof.
Stages of Technological Progress

Researchers have characterized industrial developments as occurring into
four revolutionary stages: The first revolution, which occurred between
the eighteenth and nineteenth centuries, witnessed the transition from an
agrarian society to an industrial society with use of steam and water in its
progression. Consider that 98 percent of American colonists through the
seventeenth to early nineteenth centuries were farmers. In the second rev-
olution, which occurred from 1870 to 1914, there were the newly discov-
ered sources of energy of oil, electricity, and steel, and the inventions of
the telephone, lightbulbs, and internal combustion engines. The third
revolution, which commenced in mid-twentieth century and continue and
progress today, was noted for miniaturization leading to home computers,
cell phones, and related devices bringing about major social changes of
behavior. The fourth revolution is evolving with blockchain, AI, internet
of things (IoT) and everything (IoE), cloud computing, 3D printing,
quantum computing, and numerous other innovations occurring almost
daily.1 Thus, the discussion hereinafter of highly complex subject matter
will be devoted primarily to a particular aspect thereof, namely how gov-
ernments worldwide are engaged in the protection of the public domain
from inevitable abuses of the new technologies as well as providing
1 OVERVIEW OF CURRENT INNOVATIVE TECHNOLOGIES 3
encouragement for their developments. Most of the analyses in this text

will be devoted to AI because of its enormous impact upon the daily lives
of inhabitants.
Blockchain, Bitcoin, and Other

Cryptocurrencies Basics
Blockchain as the Basis for Bitcoin and Other Cryptocurrencies

Almost everyone has heard, invested, or wish they had capitalized in bit-
coin transactions, which have seen dramatic volatility since its creation in
2009. The rise of bitcoin, which at one time could be exchanged for a
pizza and whose value rose briefly to $50,000 and beyond, was due to a
number of disadvantages of fiat currency (government-backed currency).
Fiat disadvantages include that exchange of fiat money most often involves
a third party and costs attributable to them such as bank charges and mis-
cellaneous fees that added up to some $141 billion in 2015 for servicing
loans, credit card fees, and other services; lack of security resulting in loss
of personal information due to hacking of bank and other companies’
sites; lack of convertibility or availability of funds in many third-world
countries; loss of anonymity or pseudonymity of persons using fiat curren-
cies; failure of bank institutions to modernize payment systems; and other
factors. Cryptocurrencies, which number over 1600 with bitcoin being
the first and most popular cryptocurrency, arose to counteract the said
disadvantages. The acceptance of lack thereof of cryptocurrencies by
nations has ranged from total prohibition, recognition or tolerance
thereof, to adaptation to the inevitability of their usage in some format
including government’s issuance of their versions.
The underlying technology for bitcoin is blockchain, which is an elec-
tronic distributed ledger technology (DLT), defined by the US Federal
Reserve Board (FRB) as a combination of components including peer-to-
peer networking, distributed data storage, and cryptography.2 Cryptography
is a branch of mathematics composed of an algorithm (a mathematical
function), and a key which is used to transform data while providing secu-
rity, confidentiality, authentication, authorization, and non-repudiation.
In essence, blockchain is literally a chain of blocks that was commenced
with a genesis block (first block) upon which transactions are recorded and,
when filled, is followed sequentially by additional blocks, which are
permanent, accessible to all persons globally, essentially immutable, and

provide a record of all prior transactions. Each block contains a hash which
is a one-way digital fingerprint that is timestamped and is not reversible. If
a party wishes to alter a prior transaction, the change is reflected in a
later block.
Initially envisioned in a 1991 article by Stuart Haber and W. Scott
Stornetta,3 blockchain evolved to practical usage in 2009 by one or more
persons using the fictitious name, Satoshi Nakamoto, who—in his, her, or
its article available publicly—described the concept of bitcoin.4 After its
initial commencement and its almost unpatrolled growth in popularity,
many competing alternative cryptocurrencies and other uses of blockchain
arose. The latter alternative currencies often exhibit variations of block-
chain use that make each cryptocurrency unique called forks, which may
be either hard forks that are based on blockchain but evidence a substantial
deviation from the original concept, or soft forks, which are minor, albeit
important, modifications of the technology. Blockchains variations include
private blockchains or permissioned ledger commonly used by banking
organizations; public blockchain or permissionless ledger that is open-
sourced accessible to all persons, or a hybrid combination. The uses of
blockchain technology, as it has evolved, are almost unlimited, ranging
from health care, legal and accounting services, financial services, varying
uses by governments, brokerage firms, and even tourism. The uses have
progressed because of blockchain’s stated advantages of authentication,
verification, accountability, transparency, permanence of recordkeeping,
and other advantages.5
Bitcoin is the poster emanation of blockchain technology. As envisioned
by its creator, transactions are between persons in possession of their pri-
vate keys who use a designated public key to communicate with each other
in the purchase, sale, or other utilization of bitcoins. By direct peer-to-
peer communication, no third party is involved, thereby eliminating fees
and other charges. Each person has a private key containing 64 numbers
and letters, which is virtually unhackable but is subject to the danger that
if the private key is lost then all bitcoins contained in the individual’s digi-
tal wallet disappear. Bitcoins are issued every 10 minutes which will be
continued until the total supply of 21 million bitcoins has been distrib-
uted. Bitcoins were initially mined by persons worldwide who were given
a mathematical puzzle of increasing complexity with a reward of bitcoins
to the person first solving the puzzle. Once issued, persons in possession
of the bitcoins are able to transact the transfer thereof, which transaction
is initially publicly made and is subject to verification by the miners to

assure that the same bitcoins are not fraudulently sold to several persons.
After verification, the transaction is completed and added to the latest
block in the blockchain sequence. The problem for miners is that the solu-
tion of the mathematical puzzle requires an enormous amount of electrical
power which environmentally is not ultimately sustainable. The advantage
to the individual engaged in bitcoin transactions is that his or her identity
is unknown and cannot directly be ascertained. Thus, initial uses by drug
dealers and other criminal elements became popularized.
The evolution of blockchain technology has taken many forms. After
bitcoin’s introduction, other pioneers envisioned the potential uses of the
underlying blockchain technology beyond solely as currency. Thus, a
young Canadian, Vitalik Buterin, with three other persons, co-founded
Ethereum in 2015.6 It is open-sourced, decentralized, Turing-complete
(able to run almost any compute language—named after Alan Turing who
was able to break the German Enigma code in World War II), and is based
on blockchain using its own type of cryptocurrency called ether. It permits
many types of applications beyond that of a cryptocurrency, the most
important of which is enablement of smart contracts which are computer
programs containing Ethereum JavaScript Solidity Code that can execute
automatically terms and conditions of a contract. For example, real estate
contracts, recordation of deeds, automatic payments of insurance-based
events, and innumerable other documents and events can be accomplished
with preset terms and conditions, thereby eliminating third parties and the
costs attributable thereto. Other popular cryptocurrencies that have very
large market multi-billion-dollar capitalization are Binance Coin,
Dogecoin, Cardano, and others such currencies.
Use of cryptocurrencies is likely to grow exponentially. According to
the PYMNTS.com,7 46 million US consumers plan to use them for pur-
chases of retail products, streaming services, and financial services; 82 per-
cent of holders of cryptocurrencies own bitcoins; and almost half own
other forms of digital currencies. A majority of non-holders claim that lack
of knowledge is the main reason for non-use, while about a third are reluc-
tant to so possess until they are mainstream. There are calls for a combina-
tion of regulatory enactments by Congress and the issuance of a digital
currency by the FRB. The Board’s Chairman, Jerome Powell, and the
Secretary of the Treasury, Janet Yellen, have noted the highly speculative
nature of bitcoin and cryptocurrencies and have observed that cryptocur-
rencies, pegged to a fixed asset such as the dollar or to gold, would lessen
their speculative nature. Several new cryptocurrencies’ offerings in this

regard have already occurred by the issuance of stablecoins that reflect the
views of the Federal Reserve Board (FED) Chair and Treasury Secretary
(discussed in Chap. 2). The issuance of a central bank digital currency
(CBDC), backed by the full faith and credit of the US, is being studied at
the present time and appears to be in line with a number of other similar
nations’ efforts, particularly China, albeit the FED Chair said it would
move slowly and pace competitively with other national digital currencies.8
The latest emanation of blockchain-related cryptocurrencies is stablecoins,
which seek to avoid the instability and lack of underlying governmental
protection by tying assets to the cryptocurrencies (discussed in Chap. 2).
Artificial Intelligence
Definitions of Artificial Intelligence (AI)

Concurrently with developments in internet technologies is the enormous
increase of data that has arisen, which requires means for analyses and
capitalization. Scientific advancements in biology, chemistry, and physics
have all contributed to vast improvements in longevity, the environment,
and other societal needs. The role of robots and replacement of humans in
the workplace and their possible takeover are the subjects of many books,
movies, and other media. Giving rise to robotic usage is the advent of
AI. Both AI and futuristic QC advances present scenarios that are both
promising and frightening and which scholars, technologists, and scien-
tists are unsure where such advancements will lead humanity.
There are numerous definitions of AI, most of which examine it from
different perspectives. Simplistically, just as defining words using the same
wording violates the protocol of definitions like blockchain as a chain of
blocks, AI is intelligence (acquisition of knowledge) but achieved artifi-
cially, that is, not by the human mind. The Encyclopedia Britannica defines
it as “the ability of a digital computer or computer-controlled robot to
perform tasks commonly associated with intelligent beings.”9 Other defi-
nitions essentially agree with the said definitions but add to them an
emphasis on a system able to perceive the environment in which it is act-
ing, provide specifications of different tasks it is able to perform, and take
action in accordance with its perceptions.10
A proposed US legislative effort gives it an extensive description which
covers most attempts to define AI is as follows:
(A) Any artificial system that performs tasks under varying and unpredict-
able circumstances without significant human oversight, or that can learn
from experience and improve performance when exposed to datasets. (B)
An artificial system developed in computer software, physical hardware, or
other context that solves tasks requiring human-like perception, cognition,
planning, learning, communication, or physical action. (C) An artificial sys-
tem designed to think or act like a human, including cognitive architectures
and neural networks. (D) A set of techniques, including machine learning,
which is designed to approximate a cognitive task. (E) An artificial system
designed to act rationally, including an intelligent software agent or embod-
ied robot that achieves goals using perception, planning, reasoning, learn-
ing, communicating, decision making, and acting.11
Quantum Computing
Quantum Computing Basics

It is extraordinarily difficult to predict future events beyond a five-year
period given the rate of technological changes that are taking place at an
exponential pace. Consider the progression of the computer from giant
IBM machines of decades ago to even greater capabilities on one’s wrist-
watch today. The internet, once the domain of the military, is now the
province also of children. Similarly, the development of blockchain, cryp-
tocurrencies, and AI was unknown only several decades ago. The latest
developments are now increasingly centered upon QC which promises to
totally change the scientific, engineering, and technological landscape
within a decade. There are known and secret occurrences which will foster
a world that will revolutionize yet again the almost simplistic landscape
currently in practice.
In order to understand how quantum computing will affect all modes
of how business is conducted and also our daily lives, it is necessary to
comprehend both how a computer translates our typing of numbers, sym-
bols, and the like, and the basics of the atom. A computer is able to deci-
pher the pressing of keys into usable stored data by virtue of a binary
system composed of binary digits (bits) of 1s and 0s, with 1 being the
“on” switch and 0 the “off” switch. Due to the remarkable achievement
of miniaturization, a computer’s processor has billions of transistors so
that when a user of the computer presses a particular letter, number, or
symbol, it causes electronic signals, in accordance with a preset code of
instructions, to execute the command in binary or ASCII (American

Standard Code for Information Interchange) format. Thus, the letter B is
encoded as 01000010 while the letter E is 01000101 and so on. The
reader will note the limitation is that of 0s and 1s which, while highly use-
ful, nevertheless, is deterministic in that it possesses only the said on and
off switches.
Quantum-based computers, which are not yet usable as current stan-
dard computers, seek to go beyond the limitations of the binary bits of 0s
and 1; rather, they operate by use of quantum bits (qubits) which are not
limited to the strictly binary on or off electrical signals. Based on quantum
mechanics theory, which is the study of the physical properties of nature at
the atomic or subatomic level, the 1s and 0s are not fixed. A qubit can
possess 0s and 1s but also can be both at the same time and have multiple
values between the 0s and the 1s off and on switches, called superposition.
Thus, two qubits may have four possible states, three qubits eight possible
states, and the number of states increasing exponentially to a number that
is almost incalculable. The problem is that currently the outcome is proba-
bilistic rather than deterministic, that is, a particular qubit may be defective
in that a qubit may be transformed from a particle (position in space) to a
wave (movement), thus making a result open to error. In essence, this is
why QC technology awaits future modifications to eliminate or almost
remove possible errors from their outcomes.
Numerous researchers globally are devoting extensive time to removal
of the error rate to assure greater outcome precision. It is unknown
whether quantum supremacy to a limited degree has already been attained.
Google issued a report in October 2019 that it had achieved quantum
supremacy in coordination with the National Aeronautics Space
Administration (NASA) Ames Research Center, which report was almost
immediately withdrawn with some researchers suggesting that it should
have remained a secret.12 The report stated that it had achieved quantum
supremacy by use of a Sycamore processor with programmable supercon-
ducting qubits to create quantum states on 53 qubits. The headline claim
was that it was able in 200 seconds to sample one instance of a quantum
circuit problem that the fastest existing classical computer would take
10,000 years to accomplish. The report was almost immediately chal-
lenged by an IBM spokesperson who said that the Google alleged break-
through wildly exaggerated and encompassed one very specific narrow
quantum sampling procedure.13 Nevertheless, there is little doubt that
significant advances are and will occur which may replace classical
computer use. On July 5, 2021, New Scientist magazine reported that a

Chinese team at the University of Science and Technology in China more
modestly claimed it now possesses the world’s most powerful quantum
computer which was able to solve a problem in slightly over an hour that
the speediest classical computer would take eight years to resolve.14
Quantum computing is based on quantum theory which studies how
matter and energy interact within the atom. An atom is the smallest unit
of matter which, in turn, is composed of subatomic particles mainly of
protons (positive charge), electrons (negative charge), and neutrons (neu-
tral charge). Other subatomic particles include photons, quarks, neutri-
nos, gravitons, and others whose descriptions may be found in any
elementary text on the subject matter. Data is ensconced onto subparticle
photons which are light particles that move in a straight line at the speed
of light but are correlated through a process called entanglement, that is,
close relationship between two or more particles interacting in a manner
whereby they cannot be described independently even though they are
separated spatially at a great distance. The occurrence is one in which even
the famed scientist, Albert Einstein, found to be a “spooky action at a
distance.”15 The implications for business and personal use are incalcula-
ble. It has been hypothesized that the impossibility of hacking blockchain
private keys will be comprised.16 Its possible uses emulate that of classical
computers but do so at an almost incalculably greater speed. Although we
have noted how data could be organized at a substantial speed, the use of
QC will increase speed millions of times faster. Immense quantum of data
could be analyzed almost instantaneously to enable users of the data to act
accordingly. “Smart” cities with great advances in traffic regulation, elec-
tronic vehicles, medicine, law, accounting advisement, space exploration,
which one day may include galactic exploration, all become more feasible
coupled with almost all other uses which the human or superintelligent
robot could conceive.17
National Quantum Initiative Act

As in all advances of technology, regulation in the US slowly and inevitably
follows after Congressional hearings which highlight not only the wonders
but also the perceived abuses and the need to reign in actual and possible
harmful consequences of the new innovations. Coupled with major
advances by China in AI and competitive pressures in general, the oft-
deeply politically divided Congress was able to agree almost unanimously
in the House of Representatives and unanimously in the Senate with the

need to promote the acceleration of QC advances. President Donald
Trump signed into law the National Quantum Initiative Act18 on
December 12, 2018. Among the purposes of the Act are the support of
research and development (R&D), demonstration, and application of
Quantum Information Science (QIS) and technology; interagency coop-
eration and coordination; promotion of the federal government’s efforts
in research and collaboration with industry and universities; and advance-
ment of the development of international standards.
The Act, with funding of some $1.3 billion over a ten-year time frame,
provides for the implementation of a National Initiative Program to
accomplish the said goals through a newly created National Quantum
Coordination Office headed by the Director of the Office of Science and
Technology in consultation with the Director of the National Science
Foundation (NSF) and the Secretary of Energy. A subcommittee of
Quantum Information Science of multiple organizations and agencies is
mandated to coordinate research, establish goals and priorities, evaluate
and recommend federal infrastructure, assess workforce in the discipline,
and evaluate opportunities for international cooperation. A National
Quantum Initiative Advisory Committee is to advise the president of
trends and developments, management and implementation, and whether
the goals and activities are maintaining U.S. leadership in quantum infor-
mation and technology. Remaining titles of the Act call for reports by the
National Institute of Standards and Technology (NIST) to assess needs,
gaps, and recommendations; and by the National Science Foundation
(NSF) to evaluate and promote information theory, physics, computa-
tional science, applied mathematics, networking, sensing and detection,
and materials science and technology.
Additional White House Initiatives

In 2018, the National Science and Technology Council (NSTC) and the
Office of Science and Technology Policy (OSTP) commenced a subcom-
mittee national strategic program for Quantum Information Science
(QIS) to secure and maintain U.S. leadership in the latest technological
emanation.19 The program set forth to address the latest technological
present and forthcoming issues are as follows: focus on a science-first
approach that aims to identify and solve grand challenges: problems whose
solutions enable transformative scientific and industrial progress. The ini-

tiative seeks to do so by the following ways:
• Strengthen federally funded R&D programs from the issuance of

grants to researchers; cross-discipline dialogue particularly within the
scientific community; establish a formal coordination body such as
NSTC; and focus on the major challenges and prioritize investments
to address the challenges;
• Build a quantum-smart and diverse workforce to meet the needs of a
growing field. The program includes encouragement of industry and
academia to create convergent trans-sector approaches for workforce
development; increase the size of QIS-ready workforce; encourage
academia to foster quantum science and engineering and address
early stages of such learning beginning at the elementary level and
continuing at all levels of education; reach out to the community for
investments in quantum science; and track and estimate the future
workforce needs of the quantum industry;
• Deepen quantum industry engagement, providing appropriate
mechanisms for public-private partnerships. Suggestions include the
formation of a U.S. Quantum Consortium with participants from
academia, government, and industry to coordinate efforts to address
needs and roadblocks to quantum development including addressing
issues such as intellectual property, and the need to streamline
technology-transfer mechanisms; increase investment in joint tech-
nology research centers by partnerships among industry, govern-
ment, and academia; maintain awareness of the forthcoming
quantum revolution and how it may affect agencies within the U.S.
government;
• Provide critical infrastructure and support needed to realize the sci-
entific and technological opportunities. Suggestions include the
identification of critically needed infrastructure and encourage
investment among all stakeholders; encourage government agencies
to provide QIS research community with increased access to existing
and future facilities and support technologies; establish end-user tes-
tbed facilities for training and engagement; explore relevant applica-
tions to quantum computing missions by federal agencies and
stakeholders; and leverage existing infrastructure, including manu-
facturing facilities for repurposing and expansion to advance quan-
tum technology development;
• Drive economic growth and maintain national security by promoting

understanding and mechanisms for understanding national security
concerns and stay current with defense and security implications of
QIS technologies; and ensure consistent applications among US uni-
versities and industry relating to QIS research;
• Continue to develop international collaboration and cooperation
with like-minded industry and government partners; ensure the US
continues to attract and retain the best talent in QIS research and
development; and identify strengths and focus areas as well as gaps
and opportunities with international parties for a better understand-
ing of the QIS landscape; and
• Develop agency-level plans that address the identified approaches
and policy opportunities in the next section, which will be integrated
into an overall strategic plan. This will enable new opportunities on
a ten-year horizon, possibly including the development.
The perennial problem will be the ability of individuals to learn the

disciplines required to utilize the technological advances. Thus, the need
arises for properly trained personnel who can understand, update almost
daily, and apply the technology to the almost infinite uses required in the
workplace. Individuals at the lower end of the educational spectrum will
continue to downsize with robots, driverless vehicles, and other cheaper
alternatives replacing the need for human output. A major concern within
governments is that the technological advances also allow the destruction
of large numbers of people in wars of competing nations. Some of the
primary issues will be discussed hereafter together with regulatory enact-
ments and proposals to minimize risks to humanity and enhance the living
standards for the planet. The ten-year goal to create a quantum-smart
workforce for the foreseeable future aims in part on education of students
commencing in elementary school to make them knowledgeable of
QIS. The Department of Energy (DOE) is funding $218 million for 85
QIS projects spread among 28 higher learning institutions and 9 DOE
labs.20 The NSF is mandated to build up to five institutes to train people
in QC. It incorporates the vision of the physicist, Chris Monroe, and oth-
ers who want and intend by the year 2050 for a high school student to be
able to use the technology as easily as the use of Snapchat. Currently, there
is a significant shortage of QC scientists, which is retarding US advance-
ments in the field.21
In Chap. 2, we will review blockchain and governmental initiatives or

the lack thereof and how the various government agencies are coping and
regulating the new technology.
Notes
1. There are numerous sources that discuss the stages as, for example,
Institute of Entrepreneurship Development, the Four Industrial
Revolutions, BLOG (June 30, 2019), https://ied.eu/project-updates/
the-4-industrial-revolutions/.
2. David Mills, Kathy Wang, Brendan Malone, Anjana Ravi, Jeff Marquardt,
Clinton Chen, Anton Badev, Timothy Brezinski, Linda Fahy, Kimberley
Liao, Vanessa Kargenian, Max Ellithorpe, Wendy Ng, and Maria Baird,
Distributed ledger technology in payments, clearing, and settlement, Finance
and Economics Discussion Series 2016-095. Washington: Board of
Governors of the Federal Reserve System, https://doi.org/10.17016/
FEDS.2016.095.
3. Stuart Haber and W. Scott Stornetta, How to time-stamp a digital docu-
ment, 3 JOURNAL OF CRYPTOLOGY 99-111 (1991), https://link.
springer.com/article/10.1007/BF00196791.
4. Satoshi Nakamoto, Bitcoin: A Peer-to-Peer Electronic Cash System (Oct. 31,
2008), https://nakamotoinstitute.org/bitcoin/.
5. For an extensive discussion of blockchain bitcoin, and other cryptocurren-
cies, see ROSARIO GIRASA, REGULATION OF CRYPTOCURRENCIES
AND BLOCKCHAIN TECHNOLOGIES, Palgrave Macmillan (2018).
6. Alyssa Hertig, Who Created the Ethereum Ecosystem? COINDESK (March
23, 2021), https://www.coindesk.com/markets/2021/03/23/who-
created-the-ethereum-ecosystem/.
7. PYMNTS, Cryptocurrency Payments Report (May 2021), https://www.
pymnts.com/wp-content/uploads/2021/05/PYMNTS-Cryptocurrency-
Payments-Report-May-2021.pdf.
8. Jeff Stein, Cryptocurrency advocates find Treasury’s Yellen to be a tough sell,
WASHINGTON POST (Aug. 25, 2021), https://www.washingtonpost.
com/us-policy/2021/08/25/yellen-crypto-bitcoin-defi/.
9. Artificial Intelligence, ENCYCLOPAEDIA BRITANNICA, https://
www.britannica.com/technology/artificial-intelligence.
10. See, for example, artificial Intelligence, OXFORD LIVING DICTIONARY,
https://en.oxforddictionaries.com/definition/artificial-intelligence.
11. National Security Commission on Artificial Intelligence Act of 2018,
S.2806, 115th Cong. (2018), https://www.congress.gov/115/bills/
s2806/BILLS-115a2806is.pdf.
12. Frank Tavares, Google and NASA Achieve Quantum Supremacy (Oct. 23,
2019), NASA Ames Research Center, https://www.nasa.gov/feature/
ames/quantum-supremacy.
13. Adrian Cho, IBM casts doubt on Google’s claim of quantum supremacy,
SCIENCE (Oct. 23, 2019), https://www.science.org/news/2019/10/
ibm-casts-doubt-googles-claims-quantum-supremacy.
14. Matthew Sparkes, China beats Google to claim the world’s most powerful
computer, NEWSCIENTIST (July 5, 2021), https://www.newscientist.
com/article/2282961-china-beats-google-to-claim-the-worlds-most-
powerful-quantum-computer/.
15. Gabriel Popkin, Einstein’s ‘Spooky Action at a distance’ spotted in objects
almost big enough to see, SCIENCE (April 25, 2018), https://www.sci-
ence.org/news/2018/04/einstein-s-spooky-action-distance-spotted-
objects-almost-big-enough-see.
16. Daphne Leprince-Ringuet, Quantum computers could threaten blockchain
security. These new defenses might be the answer, ZDNet (Aug. 11, 2021),
https://www.zdnet.com/article/quantum-computers-could-threaten-
blockchain-security-these-new-defenses-might-be-the-answer/.
17. Among the numerous articles, reports, books, and so on are NATO
OTAN, Science & Technology Trends 2020–2040, https://www.nato.int/
nato_static_fl2014/assets/pdf/2020/4/pdf/190422-S T_Tech_
Trends_Report_2020-2040.pdf; CHRIS BERHARDT, QUANTUM
COMPUTING FOR EVERYONE, MIT Press (2019); and JOHN
GRIBBEN, COMPUTING WITH QUANTUM CATS: FROM
COLOSSUS TO QUBITS, Prometheus Books (2014).
18. National Quantum Initiative Act, 5 U.S.C. §8801 note (2018).
19. NSTC Subcommittee on Quantum Information Science, National
Strategic Overview for Quantum Information Science (Sept. 2018),
https://www.quantum.gov/wp-c ontent/uploads/2020/10/2018_
NSTC_National_Strategic_Overview_QIS.pdf.
20. Department of Energy, Department of Energy Announces $2.85 Million to
Support Undergraduate Research Traineeships at HBCUs and other MSIs
(June 24, 2021), https://www.energy.gov/science/articles/department-
energy-announces-285-million-support-undergraduate-research.
21. See Roy Girasa and Emilio Collar, Quantum Computing: The Second
Quantum Revolution: Transformation of How Business is Conducted,
EUROPEAN BUSINESS REVIEW (Sept.–Oct. 2021), www.european-
busnessreview.com.
CHAPTER 2
Regulation of Blockchain
and Cryptocurrencies
Cryptocurrencies
Decades ago, it would have been almost unimaginable that currencies
would arise which have no government backing, consist of digits on a
computer, kept in digital wallets, be competitive with the American dollar,
and have enormous value in the marketplace. In this chapter, we will briefly
review the nature of virtual currencies and how government entities,
particularly in the US, are responding to their growth and distribution.
Nature and Types of Currencies

The advent of bitcoin, created by an unknown pseudo-named Satoshi
Nakamoto, commenced a new era of challenges to traditional fiat curren-
cies. It is a cryptocurrency based solely on trust having no governmental
backing, but which rapidly gained popularity because of the many per-
ceived benefits it provides. Its value is derived from what users of the cur-
rency believe it to be. Its use raises the initial question of what is money.
In early primitive times, barter was the chief mode of asset exchange and
possession, for example, a cow in exchange for some other asset of another
willing trader. Gradually, metallic objects, such as gold bars and other
valued objects, evolved to metallic coinage approximately three millennia
ago. Thereafter, as possession of metallic coinage became too cumber-
some, paper money was created which had the value that users trust based
© The Author(s), under exclusive license to Springer Nature 15

Switzerland AG 2022
R. Girasa, G. J. Scalabrini, Regulation of Innovative Technologies,
https://doi.org/10.1007/978-3-031-03869-3_2
on experience. It could be worthless, as exemplified by $100 billion cur-

rency from Zimbabwe issued some years ago and the German mark during
the 1920s, or it may possess much value based on the full faith and credit
of credible governmental backing of the currency such as the US dollar,
European Union (EU) euro, and the Chinese renminbi (official currency
or yuan as a medium of exchange).1
Types of Currencies
The major types of currencies, in addition to government-backed fiat cur-
rencies, are as follows.
Digital currency which is intangible electronic currency representing
value denominated in legal tender such as PayPal or e-money transferable
by use of current technologies (computers, internet, and smart phones)
but whose value may also be based on supply and demand.2
Virtual currencies which are digital representations of value not backed
by governmental entities that can be digitally traded and may act as a
medium of exchange, unit of account, or store of value.3 They may be
convertible (opened) virtual currency that can be exchanged for other
types of currencies or cryptocurrencies or non-convertible generally used
for gaming purposes or other restricted purposes. Convertible virtual cur-
rencies may be centralized, in that a central authority of administrator sets
the rule, issues the currencies, and may redeem, withdraw, or limit the
number thereof, or decentralized virtual currency, illustrated by bitcoin,
which has no central administrator. Non-convertible (closed) virtual cur-
rencies are decentralized operating in a closed environment specific to a
particular domain as in gaming. Cryptocurrencies are digital decentralized
convertible currencies or medium of exchange using encryption technol-
ogy to verify exchanges and impede counterfeiting.4
Benefits of virtual currencies include verification of identity, reduction
in costs due to the elimination of third parties such as banks and credit
card companies, speed of transfer by avoidance of centralized clearing
institutions, facilitation of micro-payments especially in the third world,
availability to persons with poor credit or other persons to whom credit
may not be available, and permanent recordation of transactions. Like fiat
currencies, they act as a store of value, can be traded, and used for pur-
chases where accepted.5
Risks of virtual currencies are lack of acceptance by banks and most
merchants; loss of interest on deposits; security concerns regarding use by
2 REGULATION OF BLOCKCHAIN AND CRYPTOCURRENCIES 17
terrorist, drug dealers, and even countries which have been barred from
access to global markets such as North Korea; currency volatility; limited
user base; loss of identity and possible loss due to failure to retain pass-
word; government prohibitions or hindrance; subjection to threats of
hacking and theft albeit often less than traditional banks; lack of govern-
ment backing; and lack of intrinsic value.6
Bitcoin
Classification of Bitcoin and Alternative Cryptocurrencies

Is bitcoin a currency, a commodity, or an asset or all of them? Bitcoin was
envisioned as an alternative currency whose uses are comparable to that of
fiat currencies. The major differences, as noted above, are that it lacks
government backing as a reserve currency, lacks universal trust and use, is
limited in amount distributed, and is highly volatile. Its main attributes are
that it is digital in nature and that it can be exchanged for goods and ser-
vices with another person without intervention and accompanying costs of
a third party such as a bank. It is a digital representation of value that func-
tions as a medium of exchange, a unit of account, and/or a store of value.
One of the issues that has arisen is that one agency of the US government,
the Internal Revenue Service (IRS), views bitcoins as assets (property)
whose exchange for profit or loss has taxable consequences,7 while another
agency, the Commodity Futures Trading Commission (CFTC), views
them as commodities noting that bitcoins can mean a physical commodity,
a currency, and does come within its definition of a commodity that also
includes “all services, rights, and interests … in which contracts for future
delivery are presently or in the future dealt in.”8
In a statement by the President’s Working Group on Key Regulatory and
Supervisory Issues Relevant to Certain Stablecoins,9 it concluded that digital
payments have the potential to improve efficiencies, increase competition,
lower costs, and foster broader financial inclusion. Stablecoins (digital cur-
rencies backed by a reserve asset or pegged to an external commodity or
other price mechanism) must comply with US laws, regulations, and over-
sight arrangements, as well as requirements of anti-money laundering and
countering the financing of terrorism and sanctions obligations before
bringing products to market. Obligations include registration with the
Financial Crimes Enforcement Network (FinCEN); development, imple-
mentation, and maintenance of an effective anti-money laundering
program; recordkeeping and reporting requirements, including suspicious

activity reporting; and tailored risk-based sanctions compliance program.
US Federal Agencies’ Regulation

of Virtual Currencies
Securities and Exchange Commission (SEC)

There are a number of US federal agencies that have regulatory jurisdic-
tion over virtual currencies, each viewing them in accordance with its leg-
islative mandates.
Howey Test: The primary issues for the SEC are how to characterize
cryptocurrencies and whether they come within the Securities Act of 1933
and/or the Securities Exchange Act of 1934. The starting point of any
analysis is the definition of a “security,” as determined by the US Supreme
Court (USSC) in its decision in SEC v. W.J. Howey Co.,10 wherein it ren-
dered a broad interpretation of its bases. In essence, a security is (1) an
investment of money, (2) in a common enterprise, (3) from which the
investor expects a profit, and (4) derived solely from the efforts of the
promoter or other third party. The security need not be evidenced by for-
mal certificates or by nominal interests in the physical assets employed in
the enterprise. Thus, it may include the sale of small strips of orange groves
as in Howey, sales of an interest in a limited partnership, and, as the court
stated, countless and variable schemes that meet the said four elements.
The term “security” is further defined in §2(a)(1) of the Securities Act
of 1933 to include security futures, security-based swaps, bonds, puts,
calls, investment contracts, and a number of other financial instruments.
Issuers of cryptocurrencies and other digital assets are among the latest
emanations whereby it must be determined whether Howey is applicable.
Once a positive determination is made respecting a particular offering as a
security, then it must be registered unless designated as exempt securities
or as exempt transactions. Failure to do so subjects the issuer to a pleni-
tude of enforcement obligations and penalties.
The SEC is cognizant of the confusion concerning whether an initial
coin offering (ICO) and other offerings of digital assets are deemed to be
securities, thereby requiring compliance with registration requirements.
In accordance thereof, it provided in April 2019 a Framework for
“Investment Contract” Analysis of Digital Assets.11 The Commission noted
that whether an ICO meets the Howey test requirements is dependent on

the specific facts and circumstances of the offering.
The Framework’s application of the Howey test requirements is as fol-
lows: (A) Investment of Money: Did the offer and sale of the digital asset
involve an exchange of value in the form of fiat (real) money, another digi-
tal asset, or other type of consideration? (B) Common Enterprise: The
Framework noted that the SEC deems investments in digital assets consti-
tute investments in a common enterprise because the fortunes of digital
asset purchasers are linked to each other or to the success of the promot-
er’s efforts, citing SEC v. Int’l Loan Network, Inc.,12 (C) Reasonable
Expectation of Profits: The word “profit” includes not only monetary sums
but also capital appreciation resulting from the initial investment or a par-
ticipation in earnings. Some of the characteristics illustrative of the third
Howey test element are: whether the digital asset gives the holder rights
to share in the enterprise’s income or profits or to realize gain from capital
appreciation of the digital asset; whether the digital assets is or expected to
be transferable or traded on or through a secondary market; whether pur-
chasers reasonably expect capital appreciation of the digital asset through
an active participant’s (AP’s) efforts; the correlation between the pur-
chase/offering price of the digital asset of the goods or services in exchange
for the digital asset; the expertise of the AP; how the digital asset is mar-
keted; the intended use of the proceeds from the sale or purchase of the
digital asset; and other characteristics. (D) Derived from the Efforts of
Others: The test is met when a sponsor, promoter, or other third party
provides essential managerial efforts (“active participant” or AP) that
affect the enterprise and investors expect to profit from the said efforts.
The Framework presents a detailed listing of characteristics that are
relevant to the third prong. Among the inquiries are whether the pur-
chaser reasonably expects to rely on the efforts of the AP and whether
those efforts are “undeniably significant ones” that affect to failure or suc-
cess of the enterprise as opposed to mere ministerial efforts. The SEC will
examine whether an AP is responsible for the development, improvement,
operation, or promotion of the network, the essential tasks or responsibili-
ties performed or expected to be performed; whether the AP creates or
supports a market for, or the price of, the digital asset; whether the AP has
a lead or central role in the direction of the ongoing development of the
network or the digital asset; whether it has a continuing role in making
decisions about or exercising judgment concerning the network or the
characteristics or rights the digital asset represents; and whether the
purchaser reasonably expects the AP to undertake efforts to promote its

own interests and enhance the value of the network or digital asset?
Statutes and Regulations Cited by the SEC for Civil Complaints

The statutory provisions generally relied on to sue civilly and/or refer to
the US federal Attorney General for criminal prosecutions are as follows.
Securities Act of 1933, §5(a) prohibits the sale or delivery after sale of
unregistered securities unless a registration statement is in effect and
makes it unlawful for any person, directly or indirectly to use any means or
instruments of transportation or communication including the use of the
mails in interstate commerce to sell or deliver such security. §5(c) states
the requirements for registration of a security offered for sale or purchase.
§17(a) makes it unlawful to employ any device, scheme, or artifice to
defraud, obtain money or property by using material misstatements or
omissions, or to engage in any transaction, practice, or course of business
which operates or would operate as a fraud or deceit upon the purchaser.
Securities Exchange Act of 1934, §10(b) makes it unlawful to use or
employ, in connection with the purchase or sale of any security a manipu-
lative or deceptive device or contrivance in contravention of such rules and
regulations as the [SEC] may prescribe. Rule 10b(5) states it is unlawful
for any person, directly or indirectly, by the use of any means or instru-
mentality of interstate commerce, or of the mails or of any facility of any
national securities exchange, (a) to employ any device, scheme, or artifice
to defraud, (b) to make any untrue statement of a material fact or to omit
to state a material fact necessary in order to make the statements made, in
the light of the circumstances under which they were made, not mislead-
ing, or (c) to engage in any act, practice, or course of business which oper-
ates or would operate as a fraud or deceit upon any person, in connection
with the purchase or sale of any security.
SEC Enforcement of Registration Requirements

The failure of ICO promoters to comply with SEC registration require-
ments or are engaged in the commission of fraud or other malfeasance has
led to the commencement of a number of civil and criminal actions taken
by the government that have resulted in significant fines and other relief.
According to Cornerstone Research, there were 75 SEC cryptocurrency
enforcement actions between the third quarter of 2013 and the fourth
quarter of 2020,13 mostly consisting of fraud in the offer and sale of securi-
ties and failure to register the offering of securities. A large percentage of
the cases were prosecuted in the federal Southern and Eastern Districts
Courts of New York.
Emblematic of the cases is the complaint in SEC v. Krstic and DeMarr,14
whereby the SEC charged Krstic and others with fraud to induce investors
to buy securities in two online companies, Start Options and Bitcoiin2Gen
(B2G), which companies were not registered with the SEC. According to
the complaint, the defendants misappropriated investor funds for digital
asset mining and trading platform, which they falsely claimed were “the
largest Bitcoin exchange in euro volume and liquidity” and “consistently
rated the best and most secure Bitcoin exchange by independent news
media.” Thereafter, they ignored investors’ demands for redemption,
required them to roll over the moneys for B2G, and used investors’ mon-
eys for personal purchases. Subsequently, from late January 2018 through
May 2018, Krstic and DeMarr began promoting Bitcoiin2Gen and the
sale of its so-called B2G tokens as part of an illegal unregistered and pur-
ported initial coin offering (“ICO”). During this period, they ignored
Start Options investors’ requests for redemption and required them to roll
their investments into B2G tokens. They knowingly disseminated ficti-
tious technical “white papers” and fake websites to create the misleading
appearance that the B2G tokens were genuine digital assets that were trad-
ing on the Ethereum blockchain, when they knew or recklessly disre-
garded that they were not. Investor funds were used for personal purchases.
They were thus charged with violation of the registration provisions of
Sections 5(a) and 5(c) of the Securities Act of 1933 and the antifraud
provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b)
of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, as
well as criminal charges in a separate indictment.
SEC v. REcoin. Group Foundation Group Foundation, et al.,15 and
U.S. v. Zaslavskiy16 were the first civil and criminal cases concerning cryp-
tocurrencies fraud to be brought by the SEC and which raised the issues
later presented in a myriad of similar cases. The SEC filed a complaint
seeking a temporary injunction and final injunction, disgorgement of prof-
its, and other relief against REcoin Group Foundation, DRC World, Inc.,
and Maksim Zaslavskiy, which alleged that Zaslavskiy, who was president
of two companies, raised $300,000 in ICOs from investors based on mis-
representations and deceptive acts. As Zaslavskiy later acknowledge in a
guilty plea in the criminal proceeding against him in 2018, he fraudulently
marketed REcoin as “The First Ever Cryptocurrency Backed by Real

Estate,” and subsequently further hyped that Diamond was an “exclusive
and tokenized membership pool” hedged by diamonds. Neither claim was
true and that the certificates he sent to investors were not backed by the
promised blockchain technology. Additional claims made to investors that
were untrue were his advertisement that REcoin had a “team of lawyers,
professionals, brokers and accountants” who would invest the proceeds
from the REcoin ICO into real estate; that 2.8 million REcoin tokens had
been sold; and that the investment in Diamond tokens for its Diamond
Reserve Club (DRC) was “hedged by physical diamonds.” The defense
argued that that the offerings were not investment contracts and thus the
Securities Acts were not applicable. The presiding judge, Raymond
J. Dearie, applied the Howey tests and determined that the offer or sale of
digital tokens can qualify as investment contracts and, thus, the securities
acts were applicable in the within case.
A sampling among the numerous actions pending commenced by the
SEC that concerned cryptocurrencies are the following.
In SEC v. LBRY, Inc.,17 the SEC sued the defendant LBRY, Inc. for sale
of digital asset securities called “LBRY Credits” as investment contracts
without registration to investors who paid in US dollars, bitcoins, and
other consideration with respect to a digital content marketplace or net-
work offering video and audio recordings, images, and other information.
The proceeds were to be used to build a LBRY Network. The company
allegedly would use a blockchain protocol to create a user network, recruit
creators, and publish their media offerings. The complaint recited the
Howey requirements that required registration and asked for disgorge-
ment, injunction, and other relief. LBRY denies that its tokens are securi-
ties and that the SEC’s overly aggressive prosecutorial stance is that of
cryptocurrencies’ suppression.18
In SEC v. Cutting,19 the SEC filed an emergency action and received a
temporary restraining order freezing the assets of the defendant Shawn
C. Cutting. The allegations are that he raised at least $6.9 million from
October 2017 through at least May 2020 from over 450 investors by rep-
resenting that he would pool investor monies into a fund that invested in
various digital assets; falsely represented to investors that he had worked as
a financial adviser for years; and that he held securities licenses. He alleg-
edly thereafter misappropriated a large sum of the money received to pay
for personal expenses, including home improvements, cars, and his daugh-
ter’s wedding. He stated that he was trading profitably and induced
investors to make additional investments by emailing investors fictitious

updates that described purported trading and investment returns, at times
touting gains exceeding 50 percent in a single month, and that he was able
to continue the operation by making at least $760,000 in Ponzi-like pay-
ments to investors. The defendant subsequently requested the court for an
order to sell certain assets to pay for legal fees and other reliefs were mainly
denied by the court.20
In SEC v. Elmaani,21 the SEC alleged that Elmaani, in the fall of 2017,
offered and sold tens of millions of digital tokens called Pearl tokens in
connection with his venture, Oyster Protocol, which were securities and
which were not registered with the SEC. He unlawfully raised approxi-
mately $1.3 million through his unregistered sale of Pearl tokens and that,
on or around October 29, 2018, Elmaani used a web of digital wallets to
covertly mint approximately four million unauthorized Pearl tokens for
himself for free and immediately began selling the tokens in the secondary
market. He made approximately $570,000 in illicit gains through the
minting and sale of Pearl tokens and, because of his sales, the price of Pearl
tokens fell by nearly 65 percent, resulting in significant losses for investors.
He was charged with violating the registration provisions of Sections 5(a)
and 5(c) of the Securities Act of 1933 and the antifraud provisions of
Section 17(a) of the Securities Act and Section 10(b) of the Securities
Exchange Act of 1934 and Rule 10b-5 thereunder.
In SEC v. Qin,22 the SEC filed an emergency action and obtained an
order imposing an asset freeze and other emergency relief against Virgil
Capital LLC and its affiliated companies in connection with an alleged
securities fraud relating to Virgil Capital’s flagship cryptocurrency trading
fund, Virgil Sigma Fund LP. The SEC claims that Qin and his companies
have defrauded investors since 2018 by making material misrepresenta-
tions regarding the fund’s strategy, assets, and financial condition. The
alleged fraud consisted of claims that investors’ funds were moneys being
used solely for cryptocurrency trading based on a proprietary algorithm,
while, at the same time, the proceeds were given instead for undisclosed
high-risk investments. Investors who requested redemptions from the
Sigma Fund were allegedly told that their interests would be transferred
instead to another fund under the ultimate control of Qin but with sepa-
rate management and operations, the VQR Multistrategy Fund LP. The
complaint alleges that no funds were transferred and the redemption
requests remained outstanding. The SEC’s complaint further alleges that
Qin is actively attempting to misappropriate assets from the VQR Fund
and to raise new investments in the Sigma Fund. §17(a) of the ’33 Act and
§10(b) of the ’34 Act and Rule 10b-5 were cited as having been violated.
The standard relief was requested of a permanent injunction, disgorge-
ment with prejudgment interest, and civil penalties. The defendant, Stefan
He Qin, subsequently, pled guilty to the criminal charge of securities fraud
in the theft and dissipation of his $90 million Flagship Hedge Fund.23
The confusion regarding whether a cryptocurrency offering is a security
was highlighted by the SEC’s complaint against Ripple, a global payments
company used by numerous banks with blockchain technology underlying
its RippleNet services. In SEC v. Ripple Labs, Inc.,24 the SEC, on December
22, 2020, charged Ripple and two executives with conducting a $1.3 bil-
lion offering of unregistered, ongoing digital asset securities beginning in
2013 through the sale of billions of XRP digital assets in exchange for
non-cash consideration such as labor and marketing services to finance the
company’s business. It further alleged that they failed to satisfy any exemp-
tion under federal securities laws. The complaint state that by failing to
register the securities, they deprived investors of adequate disclosures
about XRP and Ripple’s business operations and financial condition and
other protections. The complaint sought an injunction, disgorgement
with interest, and civil penalties.
The SEC action against Ripple was criticized by the financial commu-
nity. The Wall Street Journal’s editorial board stated that the litigation
caused confusion in the SEC’s approach to cryptocurrency because it was
inconsistent since it failed to treat offerings by bitcoin (BTC, +2.61 per-
cent) and ether (ETH, +9.25 percent) as securities.25 A commentator for
Bloomberg Law, J. Carl Cecere, stated that XRP is not a security inasmuch
as it does not give investors a share of ownership in Ripple. Its value is
independent of the value of Ripple which does not have any unique pro-
prietary information that could harm investors in the cryptocurrency and
was not an investment contract.26 As of the date of this writing, Ripple’s
request for dismissal of the case awaits decision by the court. The court
has requested the legal views of the largest token holders to gage a “mean-
ingful perspective” concerning the issue of whether the issuance of tokens
is to be considered unregistered securities.27
Another random document with
no related content on Scribd:
Ik heb geen leer, ik heb geen smeer,
Ik heb geen pik
Aurik-kik-kik-kik.
Met deze laatste woorden wordt het rikkikken der padden

aangeduid.
In W. G. Kern en W. Willms, Ostfriesland wie es denkt und spricht

(Norden, 1869) kan men nader bescheid vinden aangaande de
Oost-Friesche spotnamen.
Dat men verder oostwaarts in Duitschland, onder anderen in

Mecklenburg, de spotnamen ook kent, leert het Korrespondenzblatt
des Vereins für Niederdeutsche Sprachforschung, deel VIII,
bladzijde 47.
Van Groningerland zuidwaarts gaande, vinden we in Drente, waar

het Sassische bloed (de eigenaardige levensuitingen van den
Sassischen volksstam) bij de landzaten zich sterker doet gelden dan
het Friesche, de spotnamen weêr weinig bekend en weinig in
gebruik. Geheel het zelfde is het geval in Overijssel [59]en in
Gelderland. Met uitzondering van de S t e u r v a n g e r s van
Kampen en de B l a u w v i n g e r s van Zwolle, die over geheel
Noord-Nederland bekend zijn, komen de weinige Drentsche,
Overijsselsche en Geldersche spotnamen schier niet in aanmerking
bij de overtalrijke spotnamen in de Friesche en Frankische
gewesten.
Mij zijn bekend de M u g g e s p u i t e r s (of bij verkorting de

M u g g e n ) en de K l o e t e n van Meppel, de K n o l l e n van
Grolloo, de M o e s h a p p e r s van Anderen, de K o e k o e k e n van
Elp.—Een groote dichte muggezwerm omzweefde de spits van den
toren te Meppel; de burgers dachten dat het rook was, en, gedachtig
aan het spreekwoord „waar rook is, daar is vuur”, liepen ze te hoop,
haalden de brandspuit, en begonnen den vermeenden torenbrand te
blusschen. Die Meppelsche M u g g e s p u i t e r s vinden hun weêrga
in de M a n e b l u s s c h e r s van Mechelen. De andere spotnaam
van de Meppelders, K l o e t e n , hebben ze te danken aan de groote
kluiten boter, die in hunne stad door de boeren uit den omtrek, nog
tot in de tweede helft dezer eeuw, ter markt werden gebracht, en die
hoofdzakelijk hunnen weg naar Amsterdam vonden, waar ze, in den
tijd vóór de hedendaagsche boter- en kunstboter-fabrieken, onder
den naam van „Meppelder Kluiten” veelvuldig aan de kleine burgerij
gesleten werden, wijl de Drentsche boter goedkooper was dan de
Friesche en Hollandsche. Kloete is de Drentsche uitspraak van het
woord kluit.
In Overijssel ken ik de B l a u w v i n g e r s van Zwolle, de Kamper

S t e u r e n , de B r ĳ h a p p e r s van Blankenham, de K a t t e n van
Blokzijl, de R u d e k i k k e r s en de R u u s v o r e n s van
Genemuiden, de K r o g g e n van de Kuinder, de B l e i e n of
B l e i s t e e r t e n van Zwartsluis, de W i n d m a k e r s van
Hengeloo, de K w e k k e s c h u d d e r s van Delden, de
G r u p p e n d r i e t e r s van Oldenzaal, de M e e l v r e t e r s van
Borne, de S t o k v i s s c h e n , P o e p e n of G e u t e n d r i e t e r s
van Deventer.
Te Zwolle viel ten jare 1682 de toren van Sint-Michiel’s kerk in, en
werd niet weêr opgebouwd. Het klokkenspel dat in dien toren hing,
werd aan Amsterdammers verkocht, die den aanmerkelijken prijs
daarvan in louter dubbeltjes betaalden. De Zwollenaars hadden
dagen lang werk (zoo luidt de overlevering) om al die dubbeltjes uit
te tellen, om te zien of ze den vollen [60]koopprijs wel ontvangen
hadden. Ze vergisten en vertelden zich telkens, en dan moesten ze
weêr van voren af aan beginnen. Van al dit dubbeltjes tellen kregen
ze blauwe vingers. Die nu nog eenen Zwollenaar wil plagen, neemt
diens hand en beziet nauwkeurig de vingers. In den regel krijgt hij
dan onmiddellijk met de andere hand van den Zwollenaar een peuter
om de ooren.
De Kampenaars vingen oudtijds in hunne rivier eens eenen

bijzonder grooten steur. Wijl ze toch eenigen tijd later een gastmaal
wilden aanrichten, en alsdan dien visch zoo goed gebruiken konden,
werden ze te rade hem voorloopig nog wat te laten zwemmen, tot tijd
en wijle ze hem van noode zouden hebben. Maar om den steur dan
te beter weêrom te kunnen vinden en vangen, bonden ze hem een
bandje met een belletje om den hals, en zóó ging de visch weêr den
IJssel in. Men zegt dat een echte Kampenaar, als hij over de
IJsselbrug gaat, nog heden altijd in ’t water tuurt, of de steur er soms
ook nog is. „Je kunt toch maar nooit weten!”—De inwoners van het
stadje Lünen bij Dortmund in Westfalen deelen met de Kampenaars
de eer S t ö r e n (Steuren) genoemd te worden. Waarom, weet ik
niet.—De spotnaam der ingezetenen van Oldenzaal is hier boven op
bladz. 8 reeds verklaard geworden. En die nu den Oldenzaalschen
spotnaam verstaat, begrijpt ook al gemakkelijk wat die van Deventer
(de derde van de drie vermelde namen) beteekent.
De Geldersche spotnamen, weinig in getal, zijn de volgenden:

K n o t s e n d r a g e r s van Nijmegen, M e t w o r s t e n van Zutfen,
K o o l h a z e n van Lochem, M o s t e r d p o t t e n van Doesburg,
V l e e s c h e t e r s van Driel, P e p e r n o t e n van Elburg,
B o k k i n g k o p p e n van Harderwijk, H a n e k n i p p e r s van
Enspijk, K n u t t e n en H u i b a s t e n van Nunspeet, H e u g t e r s
van Uddel, K r a a i e n van Haaften en K l a d d e n van Ek en van
Ingen.
De ingezetenen van Harderwijk hebben hunnen spotnaam te danken
aan de bokkingnering (haringvisscherij, bokkinghangen en handel)
die er veelvuldig wordt uitgeoefend, en die aan de stad zekere
vermaardheid gegeven heeft. Oudtijds toen Harderwijk ook nog eene
hoogeschool rijk wan, werd er wel gefluisterd [61]dat men daar voor
geld kon verkrijgen, wat slechts door ingespannen studie
verkrijgbaar moest wezen. Hierdoor kwam het rijmke in zwang, dat
de kenmerkende bijzonderheden van Harderwijk weêrgaf in deze
woorden:
Harderwijk is een stad van negotie,

Men verkoopt er bokking en bullen van promotie.
Wat men onder de H u i b a s t e n van Nunspeet te verstaan hebbe,

zal wel niet iedereen terstond vatten. H u i b a s t e n zijn lieden die
(om het eens in de onbeschaafdste volksspreektaal te zeggen) veel
hui in hun bast (lichaam) zuipen; met andere woorden: die veel wei
drinken.
Zijn de spotnamen in het algemeen van oude dagteekening,

sommigen reeds uit de middeleeuwen afkomstig, en al komt het
zelden of nooit meer voor, dat nog hedendaags zulke namen
ontstaan en in gebruik genomen worden, toch is mij een voorbeeld
hiervan bekend. H a n e k n i p p e r s , de spotnaam der Enspijkers, is
eerst eene kwart-eeuw oud. In De Navorscher, jaargang XXVI,
bladzijde 264 schrijft J. Anspach dienaangaande: „Toen de
nieuwsbladen in ons vaderland gewaagden van de toebereidselen,
welke in de steden en ten platten lande gemaakt werden om, ieder in
zijnen trant, het kroningsfeest van onzen geëerbiedigden koning, 12
Mei 1874, waardig te vieren, werden in een artikel der Tielsche
Courant de inwoners van Enspijk als E n s p i k s c h e
H a n e n k n i p p e r s begroet, dewijl uit dit dorp in den Tielerwaard
een stem was opgegaan, die, tot opluistering der feestelijkheid,
hanen tegen elkander in ’t strijdperk wenschte te doen treden, nadat
men dit fiere pluimgedierte van zijn vederbos zou hebben ontdaan.
Uit dit voorbeeld ziet men, hoe toevallig en op wat kinderachtige
manier dergelijke spotnamen soms ontstaan.”
Tegenover den nieuwen naam van de Enspijkers staat de oude

spotnaam die aan de ingezetenen van Driel eigen is. Immers deze
naam, V l e e s c h e t e r s , dankt zijnen oorsprong aan de
omstandigheid dat de inwoners van Driel in de middeleeuwen eenen
zoogenoemden vleesch- en boterbrief hadden, eene kerkelijke
vergunning, waarbij hen werd toegestaan om ook in den vastentijd
zuivel- en vleeschspijzen te mogen gebruiken. Zie [62]hierover Kist,
Kerkelijk Archief, I, 176 en III, 469, en Buddingh, Het dorp Driel, in
den Gelderschen Volks-Almanak voor 1869.
De provincie Utrecht, tusschen Gelderland en Holland ingesloten,

maakt door haar tweeslachtig wezen op volkenkundig- en taalkundig
gebied den overgang uit van de oostelijke tot de westelijke gouwen
van ons land. En zoo mogen dan ook hier ter plaatse de spotnamen
van Utrecht genoemd worden, tusschen die van Gelderland en
Holland in. Naar mijn beste weten zijn het maar drie; te weten de
K e i s l e p e r s of K e i t r e k k e r s van Amersfoort, de
A p e l u i d e r s van IJsselstein en de B e r e n s c h i e t e r s van
Benschop. Immers „S i n t - M a a r t e n s - m a n n e n ”, zoo als men
oudtijds de inwoners van Utrecht, en ook de landzaten van het Sticht
wel noemde, maakt geen spot- of bijnaam uit; veeleer een
eerenaam.
De burgers van Amersfoort vonden eens op een heideveld, nabij

hunne stad, eenen zeer grooten keisteen, als een rotsblok. Zij
ontgroeven dien steen, en sleepten en trokken hem met veel ophef
en met groote moeite triomfantelijk naar hunne stad, waar zij hem,
als eene groote zeldzaamheid, op de Varkenmarkt ten toon stelden
en voor ’t vervolg eene vaste plaats gaven. Dit is waar gebeurd, ten
jare 1661.—En die van IJsselstein luidden eens, bij vergissing, de
doodsklok voor eenen dooden aap. Men vindt beide deze voorvallen
vermeld en uitvoerig beschreven met naam en toenaam; het eerste
in een opstel Dool om Berg in het tijdschrift Eigen Haard, jaargang
1896, bladzijde 618; het laatste in het Bijblad van De Navorscher,
jaargang IV, bladzijde XXXVIII.
Thans van ons punt van uitgang, Friesland, ons westwaarts

wendende over het Flie, naar ’t aloude Friesland bewesten Flie,
tegenwoordig Noord-Holland genoemd, vinden we ook in die gouw,
waar de bevolking in hoofdzaak zuiver Friesch, ten deele ook Friso-
frankisch van oorsprong is, de spotnamen weêr talrijk
vertegenwoordigd. Bijzonder in oudheid- of geschiedkundig opzicht,
of bijzonder uit het oogpunt der beschavingsgeschiedenis zijn de
West-Friesche spotnamen echter weinig of niet. Integendeel, het
grootste deel dier namen is nuchteren, alledaagsch, plat. [63]
Mij zijn de volgenden bekend: K w a l l e n van Texel,

T r a a n b o k k e n van de Helder, K r a a i e n van het Nieuwe-Diep,
R o o d j e s van Schagen, T u l e n , S c h a p e n (Skepen) en
B i g g e n van Wieringen, S p r e e u w e n van Winkel, R a t t e n van
Kolhorn, Z a n d p i s s e r s en S t r o o b o s s e n van de Zijp,
D o d d e n of D o t t e n (jonge spreeuwen) van Niedorp, B l a u w e
R e i g e r s van Heer-Hugo-waard, M o p p e n van Medemblik,
V ĳ g e n van Enkhuizen, K r e n t e b o l l e n , K r e n t e k o p p e n ,
W o r t e l e n en D u i v e l d r a g e r s van Hoorn, T u r k e n van
Opperdoes, G l a d o o r e n van Twisk; S p e e l m a k k e r s van
Benningbroek, B l o o t e b e e n e n en D u i v e l s h o o p e n van
Aartswoud, B o o n e n van Blokker, T h e e k i s t e n van
Binnewijzend, U i l e n van Lutjebroek, A a r d a p p e l s van Nieuw-
Bokswoud, S c h o k k e n van Hauwert, B l e i e n van Oostwoud,
G o r t z a k k e n en G o r t b u i k e n , ook K e t e l k r u i p e r s en
S t e e n e k w a k k e r s van Alkmaar, K o o l s t r u i k e n van
Langedijk, W r o e t e r s of M o l l e n van Schermerhorn, K n o o r t ,
S n i r t en S n o e k e n van de Rijp, W a t e r r o t t e n van Akersloot,
L o m p e r t s van Barsingerhorn, M o p p e n van de Beemster,
V i s c h t e v e n van Egmond aan Zee, K r a a i e n van de Graft,
G o r t b u i k e n van Graftdijk, W i l d j e s van Groot-Schermer,
R a p e n p l u k k e r s van Heiloo, K o e k e t e r s van Uitgeest,
L a n g s l a p e r s van Ursem, M u s s c h e n van Edam,
M o n n i k e n t r o e t e r s van Monnikendam, B e r e n van Warder,
P l a t p o o t e n van Purmerland, B o o n p e u l e n van den Ilp,
K o e k e t e r s en G a l g e z a g e r s van Zaandam,
K r e n t e k a k k e r s van Zaandijk, K r o o s d u i k e r s van Westzaan
en Landsmeer, E e n d e p u l l e n , K o o l e t e r s , K o o l h a n e n
en K o o l p i k k e r s (ook V o l k v a n K l a a s K o m p a a n ) van
Oostzaan, M o p p e n , O o r e b ĳ t e r s en U i l e n van Jisp,
K o e k e t e r s en Z e u r o o r e n van Koog aan de Zaan,
K o e k e t e r s en G u i t e n van Krommenie, B o o n p e u l e n ,
S t e e n e g o o i e r s en U i l e n van Wormer, G l a d o o r e n van
Wormerveer, V i n k e n van Broek in Waterland, K i p l a n d e r s ,
G o r t l a n d e r s en S p a n j a a r d e n van Assendelft,
K l a p b e s s e n van de Beverwijk, M u g g e n van Haarlem,
K o e k e t e r s van Amsterdam, en K a l v e n van Naarden.
Men zegt dat er onder de ingezetenen van Schagen steeds velen

zijn met hoogblond, naar ’t rosse zweemend hoofdhaar, [64]en dat zij
daarvan hunnen spotnaam R o o d j e s hebben verkregen. Zoo dit
eerste waar is, dan zoude deze schoone Oud-Germaansche
hoofdtooi tot een bewijs te meer verstrekken, dat de Schagers echte
Friezen zijn—’t welk trouwens ook zonder tegenspraak is.
Waarom die van Schermerhorn M o l l e n en W r o e t e r s heeten,
en die van Alkmaar G o r t z a k k e n en G o r t b u i k e n , is op
bladzijde 6 reeds medegedeeld.
De naam K o o l s t r u i k e n van den Langendijk vindt zijne gereede

verklaring hierin, dat in de vier dorpen die deze landstreek
Langendijk samenstellen, de teelt van allerlei soorten van kool de
hoofdbron van bestaan voor de ingezetenen is.
De naam van de V i s c h t e v e n van Egmond aan Zee is, even als

die van de Ts j o e n s t e r s van Molkwerum, uit den aard der zaak
en uit den aard van het woord, slechts toepasselijk op de vrouwen
van dat dorp (tot voor korten tijd nog een visschersdorp in de rechte
beteekenis des woords—thans echter niet meer.) De Egmonder
mannen, even als de Molkwerumer mannen, blijven in deze buiten
schot.
De naam van de W i l d j e s van Groot Schermer is reeds zeer oud,

en is ook zeer eigenaardig, in zoo verre dat de Groot-Schermers
zelven dezen hunnen bijnaam volstrekt niet beleedigend achten te
zijn. Zij winden zich namelijk licht op met kermishouden en andere
feestelijke gelegenheden, en dan komt het wel voor, dat ze zich
inderdaad als wilden gedragen. Reeds Leeghwater, in zijn Cleyn
Cronykxken (eerste helft der jaren 1600), zegt van hen: „De huys-
luyden van Schermer waren in mijn jonckheydt, doen ik daer eerst
ghetrouwd was, wat rouw van manieren en seden: dewelcke nu
mede al seer betemt ende manierigh zijn.” Volkomen „betemt” zijn ze
echter ook thans nog niet. Immers voor en na heeten ze W i l d j e s .
Ook de naam der K o o l e t e r s van Oostzaan dagteekent reeds van

den ouden tijd. De Zaansche geschiedschrijver Soeteboom zegt er
van in zijn werk De Nederlandsche Beroerten (Amsterdam, 1679): „’t
Oostzaner Wapen plagt eertijds (so men segt) een Buyssekool te
wesen, so ’t schijnt ontsprongen uyt de menigvuldigheyt der Kolen,
die men aldaer plagt te telen en te eten, so dat se de name voerden
van Kool-hanen en Kool-eters.” Soeteboom spreekt hier in den
verleden tijd („so dat se de name [65]voerden”); ondertusschen
voeren de Oostzaners dien naam nog heden, ruim twee eeuwen
later. Zulk een taai leven hebben die spotnamen; ze gaan eeuwen
lang, van geslacht op geslacht over. De andere spotnaam der
Oostzaners, V o l k v a n K l a a s K o m p a a n , hebben ze volgens
Dr. G. J. Boekenoogen, De Zaansche Volkstaal (Leiden, 1897) te
danken aan hunnen ouden dorpsgenoot „den beruchten Oostzaner
kaper Claes Gerritsz Compaen (geboren 1587, gestorven na 1655),
die, na jaren lang de zee onveilig te hebben gemaakt, door den
Stadhouder werd begenadigd, en in zijne geboorteplaats zijn leven
eindigde.”
De G a l g e z a g e r s van Zaandam ontleenen dezen hunnen naam

almede aan een geschiedkundig voorval. Volgens Boekenoogen (in
zijn bovengenoemd werk) „ligt de oorsprong van dezen naam in het
omzagen van de galg, waaraan de schuldigen van het Zaandammer
turfoproer (Mei 1678) hingen. Dit feit geschiedde in den nacht van 18
op 19 Augustus, 1678.”
De naam K o e k e t e r s van de Amsterdammers is al zeer oud. De

bekende, in der daad ook bestaande voorliefde der Friezen voor
alles wat zoet van smaak is (zie bl. 20) in aanmerking genomen, zoo
is deze Amsterdamsche spotnaam al mede een bewijs dat de oude
burgerij van Amsterdam, in de 16de eeuw, wier voorouders in de
middeleeuwen reeds als visschers bij den Dam in den Amstel
gezeten waren, tot den Frieschen volksstam behoorde. Trouwens,
ook uit de spreektaal der Oud-Amsterdammers, gelijk die ons door
Gerbrand Adriaensen Brederode is overgeleverd, en zelfs nog
uit de spreektaal der hedendaagsche oud-ingezetenen der Noord-
Nederlandsche hoofdstad—vooral in sommige bijzondere buurten en
wijken—blijkt dit ruimschoots.
Dat de smaak in zoetigheid, dat het koek-eten, als een teeken van
den Frieschen oorsprong der bevolking, niet enkel tot Amsterdam
beperkt is, maar zich over het geheele Westfriesche Noord-Holland
uitstrekt, blijkt uit den spotnaam K o e k e t e r s , dien evenzeer de
Zaandammers, die van de Koog, van Krommenie en die van
Uitgeest dragen. Ook de M o p p e n van Medemblik, van Hoorn, van
de Kreil, van de Beemster en van Jisp geven getuigenis in deze
zaak. [66]
In Zuid-Holland, waar het Frankische bloed, bij de oude landzaten

weêr langzamerhand, hoe verder zuidwaarts hoe meer, de overhand
verkrijgt over het Friesche—in Zuid-Holland zijn de spotnamen ook
weêr minder vertegenwoordigd. Men zoude anders wel meenen dat,
waar de bevolking van menige plaats, van Noordwijk, Katwijk en
Scheveningen, van Vlaardingen en Maassluis, van Dordrecht, enz.
zoo opmerkelijk bijzondere eigenaardigheden bezit op volk- en
taalkundig gebied, dat daar de spotlust van anders geaarde buren
zich wel zoude moeten laten gelden.
Mij zijn de volgende Zuid-Hollandsche spotnamen bekend:

H a n g k o u s e n van Hillegom, P u i e r a a r s , B l a u w m u t s e n ,
H o n d e d o o d e r s en S l e u t e l d r a g e r s van Leiden,
O o i e v a a r s , W a t e r k ĳ k e r s en B l u f f e r s van ’s-
Gravenhage, K a l f s c h i e t e r s van Delft, G a p e r s van Gouda,
R a k k e r s van Gouderak, K l o k k e d i e v e n van Oudewater,
To o v e n a a r s van Schiedam, V l e e t van Vlaardingen,
K i e l s c h i e t e r s van Rotterdam, S c h a p e d i e v e n van
Dordrecht, Z e e l e p e r s en P u i e r s van den Briel, en B l i e k e n
van Gorinchem.
Den naderen en volledigen uitleg van deze spotnamen aan anderen

overlatende, wil ik er slechts als ter loops op wijzen, dat de
eerstvermelde spotnaam der Leidenaars (tevens de meest bekende
der vier vermelde), zijnen oorsprong vindt in hunne liefhebberij om in
de talrijke wateren die hunne stad omringen, op aal te peuren of te
puieren, dat is: op eene bijzondere wijze te visschen. En de
laatstvermelde spotnaam der Leidenaars oogt op de sleutels van
Sint-Pieter, die der stede wapenschild sieren. Ook de Hagenaars
hebben hunnen spotnaam aan hun wapenschild te danken (of te
wijten), ’t welk eenen ooievaar (dat is immers een „waterkijker”)
vertoont. Van den naamsoorsprong der K a l f s c h i e t e r s van Delft
leest men in De Navorscher, jaargang III, bladzijde 373, als volgt:
„Zoo was het ook in ’t jaar 1574, toen eenige Spanjaards een
aanslag op Delft hadden willen beproeven, maar tijdig ontdekt zijnde,
van onder de muren waren geweken, waarop hun, reeds lang buiten
schot gekomen, een hagelbui van kogels achterna gezonden werd.
Slechts een kalf dat in de wei liep, werd hierdoor getroffen, en men
maakte toen dit schimpdichtje: [67]
„De vrome Delvenaren

Die schoten een vet kalf.
Als zij verdrukket waren
Ten tijde van Duc d’Alf.”
De ingezetenen van Gouderak danken hunnen spotnaam aan eene

woordspeling met den naam van hun dorp: het Rak in de Gouwe. De
To o v e n a a r s van Schiedam, die zich nog het oude gezegde:
„Twintig van Schiedam, negentien kunnen tooveren”, moeten laten
welgevallen, maken de Hollandsche weêrga uit van de Friesche
Ts j o e n s t e r s van Molkwerum; evenals de Hollandsche
B l i e k e n van Gorinchem hunne tegenhangers vinden in de
Friesche B l e i e n van de Gaastmeer. Een bootje, dat omgekeerd,
met de kiel naar boven, midden in de Maas dreef, werd door de
Rotterdammers voor een’ walvisch gehouden, waar zij hunne
geweren op afvuurden. Van daar hun spot naam. De spotnamen der
ingezetenen van de aloude stedekens Brielle en Vlaardingen
schijnen mij toe ook oud van oorsprong en oud van vorm te zijn. Ik
kan ze niet verklaren. Misschien zijn de Brielsche P u i e r s ook
puieraars op aal, en waarschijnlijk hangt de naam der Vlaardingers
wel op de eene of andere wijze samen met hun visschersbedrijf.
De inwoners van onze drie zuidelijke gewesten, Zeeland, Noord-

Brabant en Limburg, zijn almede niet rijkelijk bedeeld met
spotnamen. Ik ken slechts de S c h a v o t b r a n d e r s en
M a a n b l u s s c h e r s van Middelburg, de F l e s s c h e d i e v e n
van Vlissingen, de G a n z e k o p p e n van ter Goes, de
K o e d i e v e n , S t e e n k o o p e r s en To r e n k r u i e r s van
Zierikzee, de A a r d a p p e l k a p p e r s van Axel, de
S t r o o p l i k k e r s van Zaamslag, de P e r e n van Cadzand, de
W i n d m a k e r s van Sluis. Dan de W i e l d r a a i e r s van Heusden,
de D u b b e l t j e s s n ĳ d e r s van Os, de B r ĳ b r o e k e n van
Werkendam, de M o s t e r d p o t t e n van Woudrichem, de
H o p b e l l e n van Schijndel, de K a a i e s c h ĳ t e r s van Uden, en
de P a p b u i k e n van Sint-Oeden-Rode. Eindelijk nog in Limburg de
R o g s t e k e r s van Weert en de W a n n e v l i e g e r s van Venloo,
K u u s j (Varkens) van Helden, en L a a m m e è k e r (Lammakers)
van Sittard. Aangaande de spotnamen der Venlooërs en der
Sittarders meldt het Limburgsche tijdschrift ’t Daghet in den Oosten,
[68](Jaargang IV, bladzijde 104) het volgende: „Een snaak uit Venloo
had doen uitroepen, dat hij met behulp van twee wannen, aan zijne
schouders bevestigd, zoude van den walmuur vliegen. Toen het volk
in menigte was verzameld, vroeg hij, of ze al ooit eenen mensch
hadden zien vliegen? Neen, riep het volk. Nu, dan zult ge het heden
ook niet zien, zei de snaak, en maakte zich uit de voeten, met de
voorop ingehaalde gelden. Van daar is de spotnaam aan de burgers
van Venloo gebleven.—Het is een L a m m a k e r , zegt men van die
van Sittard. Door lammaken verstaan de Sittarder burgers (en in ’t
algemeen alle Limburgers), zich op hunne manier ten koste van
anderen vermaken.”
De M a n e b l u s s c h e r s van Middelburg heeten zoo uit de zelfde

bekende oorzaak die ook den Mechelaars hunnen gelijken spotnaam
heeft gegeven; namelijk het schijnen van de maan op den torentop,
’t welk door de burgerij voor brand werd aangezien, en getracht werd
te blusschen. Even als te Franeker, te Leiden en elders het geval is,
zoo zijn ook uit de wapenschilden van Vlissingen, Goes en Heusden,
die met eene flesch, met eene gans, en met een wiel beladen zijn,
de spotnamen van de ingezetenen dier steden ontstaan.
Zonderling is de oorsprong van den spotnaam (P e r e n ) der

Cadzanders. Met de bekende boomvrucht heeft die naam niets te
maken. Te Cadzand spreekt men elkanderen veelvuldig aan
(tijdgenooten of evenouders namelijk, en die op vertrouwelijken,
vriendschappelijken voet met elkanderen omgaan) met de woorden
„Pere! m’n ouwen!” (Pere is hier het Fransche woord père, vader.)
Juist zoo spreken de Friezen, in de zelfde omstandigheden,
elkanderen onderling wel aan met ’t woord Heite. Dit is het Friesche
woord heit, vader. Zelfs knapen en jongelingen noemen elkanderen
wel Heite, b.v. Kom Heite! giest’ mei? Kom, mijn vriend! gaat gij
mede? Ook onder het volk aan de zeekust in Holland spreekt men
op die wijze; onder anderen te Zandvoort. Als jongeling te Haarlem
studeerende, liep ik daar menig maal over de Vischmarkt, zoowel
om de verschillende mooie visschen te zien, die daar uitgestald
waren, als om het ongekunstelde volksleven gade te slaan, en de
volkstaal te hooren spreken uit den mond der Zandvoorder
visscherliên en der Haarlemsche [69]burgerluidjes. Dan gebeurde het
wel, dat deze of gene Zandvoorder vischvrouw („Dirkie, Maintje of
Mæærtje”—ik kende ze al bij namen) mij toeriep: „Vædertje! mot je
gien moaie pooanen kooape?” of „Kaik’ris vædertje! watte grooate
pooanen!” Poonen toch, die schoone visschen, met hunne fraaie,
roode vinnen en groote als gepantserde koppen, trokken steeds
bijzonder mijne aandacht. Als ik dan glimlachte, omdat ik, de
achttien-jarige, als vædertje werd toegesproken, riep zoo’n vrouw
wel: „Kaik! de borst 13 lacht!” Opmerkelijk is het toch, dat het Friesche
heite, het Hollandsche vædertje en het Vlaamsche (eigenlijk
Fransche) père, zoo geheel in den zelfden zin bij drie verschillende
stammen van ons Nederlandsche volk in gebruik is.
Ook de vertrouwelijk vriendelijke aanspraak der Cadzanders

onderling, „m’n ouwen!” vindt in Friesland hare weêrga. Immers de
Friezen, en onder dezen de Dokkumers nog het meest, spreken
elkanderen wel toe met „âlde!” als ze hunne eigene taal, of met
„oude!” als ze de basterdtaal der stedelingen gebruiken—al zijn dan
spreker en toegesprokene ook jonge lieden, in ’t algemeen zonder
dat er op den leeftijd van den toegesprokene gelet wordt.
Heite! of Vædertje! of Pere, m’n ouwen! hoe vertrouwelijk en

vriendelijk, hoe echt volkseigen en volksaardig klinkt dat!
De ingezetenen van het Limburgsche stedeke Weert heeten

R o g s t e k e r s , en dit om nagenoeg de zelfde reden die den
Dokkumers hunnen spotnaam G a r n a t e n heeft bezorgd. Men
verhaalt namelijk dat er oudtijds eens eene vrachtkar, die onder
anderen ook met eene mand rog (zeevisch) beladen was, van
Antwerpen, over de heide bij Weert, naar Roermond reed. Bij
ongeluk gleed er een van die glibberige visschen uit de mand en van
de kar, en bleef, door den voerman onbemerkt, in het breede
wagenspoor op de zandige heide liggen. Korten tijd daarna kwam
een Weertenaar langs dien weg, en zag den rog. Nog nooit had hij
zulk een vervaarlijk schijnend schepsel gezien. Hij schrikte er van:
„wat is dat?” De zaak scheen hem lang niet pluis. Hij ijlde naar ’t
stadje terug, riep alle buren en vrienden [70]bij elkanderen, en na kort
beraad trok men met man en maag er op uit, onder zijn geleide,
heidewaarts, om het vreeselijke monster te zien. Naderbij gekomen
werden allen met ontzetting aangegrepen. Maar een paar van de
dapperste mannen schepten moed. Zij hadden in de gauwigheid
ieder eene spiets meêgenomen van het raadhuis, waar op den
zolder nog zulk middeleeuwsch wapentuig werd bewaard, en staken
nu, vol doodsverachting, hun verroest wapen in het lichaam van den
visch, dien ze, nadat ze zich van zijnen dood goed en wel overtuigd
hadden, als een oorlogsbuit in zegepraal mee terug namen naar hun
stadje. Sedert heeten die van Weert R o g s t e k e r s , en ze moeten
het zich te Eindhoven, te Roermond, te Hasselt, op straat of in de
herberg, of waar ze zich maar vertoonen, laten welgevallen dat de
lieden hun naroepen, uitjouwen, zingen:
De burgerij van Weert

Was van een dooden rog verveerd!
In Zuid-Nederland, waar we enkel de Vlaamsche, de Dietsche

gewesten in aanmerking nemen, zijn de spotnamen weer rijk
vertegenwoordigd. De levendige, opgewekte, luidruchtige
gemoedsaard, die den Vlaming en den Brabander bijzonder
onderscheidt van den Hollander en den Fries, heeft zekerlijk wel
aandeel aan den oorsprong en aan het voortbestaan dezer talrijke
spotnamen, die immers wel aanleiding geven tot scherts en
vroolijkheid, maar ook evenzeer wel tot twist en tweedracht, en bij de
onbeschaafden tot schelden, kijven, vechten.
Reeds vroeg hebben de Zuid-Nederlandsche spotnamen de

opmerkzaamheid getrokken. Omstreeks het midden der jaren 1500,
en zekerlijk veel vroeger ook, waren ze daar reeds algemeen
bekend en in gebruik; immers ten jare 1560 werden ze daar reeds
door eenen volksaardigen Vlaming verzameld en in verzen te zamen
gesteld. En nog in dezen onzen tijd werden de Zuid-Nederlandsche
spotnamen in de verschillende jaargangen van Ons Volksleven, een
Zuid-Nederlandsch tijdschrift, opgesomd, en in hunnen oorsprong en
hunne beteekenis nagespoord. Daarheen, en naar andere bronnen,
allen achter dit opstel vermeld, verwijs ik dan ook den lezer die er
meer van weten wil.
Over ’t algemeen genomen stemmen de Zuid-Nederlandsche

[71]spotnamen in al hunne bijzondere kenmerkende eigenschappen
geheel overeen met de Noord-Nederlandsche. Sommigen van deze
namen zijn aan beide landsdeelen gemeen—’t is te zeggen: ze zijn
zoowel eigen aan eene Noord- als aan eene Zuid-Nederlandsche
plaats. Dat zijn bij voorbeeld: de M u g g e b l u s s c h e r s van
Turnhout en van Peer, die overeenstemmen met de
M u g g e s p u i t e r s van Meppel, ook wat aangaat het verhaaltje,
dat den oorsprong van dezen naam vermeldt. Verder de
M a n e b l u s s c h e r s van Mechelen en die van Middelburg; de
W o r t e l s van Ninove en die van Hoorn; de To o v e n a a r s van
Schiedam, met de Ts j o e n s t e r s van Molkwerum en de
To o v e r h e k s e n van Onkerzeele; de T u r k e n van Glabbeek en
die van Opperdoes, enz.
In beide landsdeelen komen de spotnamen ook veelvuldig, ja zelfs in

den regel voor in de gewestelijke of plaatselijke volkseigene
spreektaal, en kunnen soms moeilijk in de algemeene boeketaal
worden omgezet. In al te platte, soms zelfs onkiesche namen staan
de zuidelijke gewesten ook niet boven de noordelijke:
A z ĳ n z e e k e r s van Temseke, O l i e z e e k e r s van Sint-Nicolaas,
S c h ĳ t e r s van Gierle en M o s t e r d s c h ĳ t e r s van Diest. Het
bedrijf dat hoofdzaak is of van ouds was in de eene of andere plaats
heeft ook in ’t Zuiden menigvuldige aanleiding gegeven tot het
ontstaan van spotnamen: W o l s p i n n e r s van Desschel,
B e s s e m b i n d e r s van Maxenzeele, Te g e l b a k k e r s van
Stekene, P e l s m a k e r s van Meenen, P o t a t e n b o e r e n van
Esschene, P l a t t e k è è s b o e r e n van Opdorp, S a a i w e v e r s
van Hondschoten, V i s s c h e r s van Mariakerke. En niet minder in ’t
Zuiden als in ’t Noorden de bijzondere liefhebberij in de eene of
andere spijze of lekkernij, aan de ingezetenen van deze of gene
plaats eigen. In deze zaak staan boven aan de K i e k e n v r e t e r s
van Brussel. Inderdaad is een Brusselsch feestmaal niet volledig, als
er geen gebraden „kieken” op tafel is, nog heden ten dage als van
ouds; geen Nederlandsche stad waar zoo vele kippen het leven
moeten laten, als Brussel. De Brusselaars worden in hunne
liefhebberij ter zijde gestaan door de K a p o e n e t e r s van
Meessen. Verder de P a s t e i - e t e r s van Kortrijk, de
S m e e r k o e k e t e r s van Moerbeke, de P a p e t e r s van
Denterghem, de S c h e e w e i - e t e r s [72]van Winkel-Sint-Kruis, de
G o r t e t e r s van Arendonk, en nog vele anderen. Ten slotte nog in
’t algemeen de E t e r s van Hingene, en de zeer bijzondere en
zonderlinge Z a n d e t e r s van Grimbergen. Dan komen ook nog in
’t algemeen de D r i n k e r s van St-Winoks-Bergen en de
R o o d b i e r d r i n k e r s van Harelbeke.
Zie hier eene lijst van de Zuid-Nederlandsche spotnamen, mij

bekend, en die allen in den tegenwoordigen tijd nog in zwang zijn.
S i n j o r e n van Antwerpen. In dezen naam schuilt nog eene

herinnering aan den Spaanschen tijd (16e eeuw), toen Antwerpen in
grooten bloei, in macht en rijkdom was—toen Spaansche zeden
daar „in de mode” waren (als ook elders in de zuidelijke Nederlanden
—men denke aan den bekenden Spaenschen Brabander) en de
aanzienlijke, voorname en rijke Antwerpenaren den Spaanschen titel
Senor droegen. De Antwerpsche S i n j o r e n zijn in aardige
tegenstelling met de H e e r e n van Gent, die, zoo als deze
benaming schijnt aan te duiden, volkseigener in hunne taal en zeden
gebleven waren dan de Antwerpsche heeren.
K i e k e n v r e t e r s van Brussel, op blz. 71 reeds besproken.
M a n e b l u s s c h e r s van Mechelen, ook reeds nader aangeduid
op bladz. 71. H e e r e n , en ook S t r o p p e d r a g e r s van Gent,
Zotten van Brugge, P e t e r m a n n e n en K o e i s c h i e t e r s van
Leuven. Dit zijn de bekendsten. Verder nog de S c h a p e k o p p e n
van Lier, de B r e k k e n van Beersel, de K o r t o o r e n van Rethy,
de K a r l e e s p o o r d e r s van West-Meerbeek, de
P o t e e r d d a b b e r s van Ramsel, de E t e r s van Hingene, de
K a t t e n en K n i k k e r s van Meerhout, de S o e p w e i k e r s van
Mol, de G o r t e t e r s , T j o k k e r s en P i n n e k e n m a k e r s van
Arendonk, de W o l s p i n n e r s van Desschel, de
J a n h a g e l m a n n e n van Poppel, de M u g g e b l u s s c h e r s van
Turnhout, de Pieren van Liezele, de K o u t e r m o l l e n van
Kieldrecht, de M e u t e s (dat zijn nuchteren kalven) van Breendonk,
de S t r o n t b o e r e n en M e s t b l u s s c h e r s van Hoboken, de
K r a a i e n van Tisselt, de G e i t e k o p p e n van Wilrijk, de
K r u i e r s van Balen, de B o s c h k r a b b e r s van Bornhem, de
S c h ĳ t e r s van Gierle, de K è è s k o p p e n (Kaaskoppen) van
Hove, de P e z e r i k k e n en M o e s z a k k e n van Loenhout, de
[73]K n e u t e r s van Meir, de J o d e n van Oost-Malle, de
K a b a l l e n van Ruisbroek, de G i p s h e e r e n van St. Amands, de
R a k k e r s van St. Anthonius, de S l ĳ k n e u z e n van Weert in
Klein-Brabant, de S m o u s e n van West-Malle, de
V a a r t k a p o e n e n van Willebroek, de S p e e l z a k k e n van
Hoogstraten, de S t r u i v e n , H a l f h o u t e n en
M a s t e n d o p p e n van Brecht, de P i e r e n van Halle, de
D r ĳ v e r s en K l u p p e l a a r s van Zoersel.
In Belgisch Limburg vinden we de To r e n b l u s s c h e r s van

Neerpelt, en de M u g g e b l u s s c h e r s van Peer.
In Zuid-Brabant nog: de E z e l s van Schaarbeek, de T u r k e n van

Glabbeek, de K w è k e r s van Tienen, de M o s t e r d s c h ĳ t e r s
van Diest, de B a r b a r e n en S t r o o b r a n d e r s van Sint-
Quintens-Lennik, de W a t e r h e e r e n van Zout-Leeuw, de
P o o t e n v r e t e r s van Haasrode, de S o e p z a k k e n van Hever,
de H e e r e n van Malderen, de K l o t b o e r e n van Steenuffel, de
B o s c h u i l e n van Dworp, de Te l l o o r l e k k e r s van Goyck, de
H o n d e k n a g e r s van Elsene, de B o t e r m e l k z a k k e n van
Etterbeek, de K o l e n k a p p e r s van Sint-Gilles bij Brussel, de
H e e r e n van Huisingen, de P o t a t e n b o e r e n van Esschene, de
Z o t t e n van Hekelghem, de H e e r e n van Meldert, de
B e s s e m b i n d e r s van Maxenzeele, de K o e i e n van Molhem,
de Z a n d e t e r s van Grimbergen.
Uit Oost-Vlaanderen zijn de H e e r e n van Gent, de M a k e l e t e r s

en K n a p t a n d e n van Dendermonde, de K a l e f a t e r s van
Baasrode, de B o s c h u i l e n van Buggenhout, de V i s s c h e r s
van Mariakerke, de P l a t t e k è è s b o e r e n van Opdorp, de
V a r i n k d o r s c h e r s van Baardeghem, de K l o k l a p p e r s van
Belcele, de W u i t e n s van Hamme, de K l o d d e m a n n e n en
S e r g i e w e v e r s van Zele, de W o r t e l s van Ninove, de
Z o t t e n , V l i e g e n v a n g e r s en S l e k k e n t r e k k e r s van
Ronse, de B o o n e n k n o o p e r s van Oudenaarde, de
B e r g k r u i p e r s van Geeraartsbergen, de To o v e r h e k s e n van
Onkerzeele, de S c h e e w e i - e t e r s van Winkel-Sint-Kruis, de
P a l i n g s t r o o p e r s van Mendonk, de T r o t t e r s van
Desteldonk, de Z o t t e n van Wachtebeke, de
S m e e r k o e k e t e r s van Moerbeke, de S c h i n k e t e r s van
Sinaai, de B l a u w b u i k e n van Exaarde, de
P e e r d e n p r o s s e r s en O l i e z e e k e r s van Sint-Nicolaas, de
H o t t e n t o t t e n van Daknam, de A z ĳ n z e e k e r s van Temseke,
de S i k k e n [74]van Moerzeke, de W i t v o e t e n , D r a a i e r s en
A j u i n e n van Aalst, de K o o l k a p p e r s van Akkergem.
En dezen zijn van West-Vlaanderen: De Z o t t e n van Brugge, de
P a s t e i - e t e r s van Kortrijk, de B o t e r k o p p e n van Diksmuiden,
de Ta a r t e b a k k e r s en W a g e n w i e l v a n g e r s van Meenen,
de K e i k o p p e n van Poperingen, de K i n d e r s van Yperen, de
K e u n s (Konijnen) van Heist-op-Zee, de G e e r n a a r t s van
Blankenberge (zie bladz. 21 en 27), de S c h a p e n van Nieuwkerke,
de E z e l s en L a n g o o r e n van Kuren (Curen, Cuern, Cuerne),
enz.
Zie hier eene lange reeks van spotnamen, waaronder er zeker velen
zijn, merkwaardig in een geschied- en taalkundig opzicht of uit het
oogpunt der beschavings-geschiedenis. Mogen al deze namen nog
eens uitvoerig beschreven en verklaard worden in hunnen oorsprong
en beteekenis, op de wijze als ik het, in het begin van dit opstel, met
de Friesche namen heb trachten te doen.
Van den eersten van alle in deze opsomming genoemde Zuid-

Nederlandsche spotnamen, van dien der Antwerpsche S i n j o r e n
heb ik (op bladzijde 72) den oorsprong vermeld. De oorsprong van
den laatstgenoemden dezer spotnamen, die van de E z e l s of
L a n g o o r e n van Kuren, moge als tegenhanger hier ook vermeld
worden. In de Gazette van Kortrijk, en daaruit overgenomen in het
Brugsche weekblad Rond den Heerd, in het nummer van 12 April,
1888, staat dienaangaande het volgende te lezen:
„’t Was over jaren en jaren, ’k en wete niet hoevele. De pastor van Cuerne
was een allerbraafste oude man. De koster was ook allerbraafst, maar
eenvoudig en oud. En zoo doof derbij, dat hadt gij hem eenen schip
onder.…. onder zijne sleppen gegeven, hij het nog niet en zou.…. gehoord
hebben.
„Asschen-oensdag was gekomen en de menschen moesten om een

asschenkruisken gaan. Ja maar, als de pastor te wege was te beginnen,
wierd hij onpasselijk.

Regulation of Innovative Technologies Blockchain Artificial Intelligence and Quantum Computing Rosario Girasa All Chapter

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Regulation of Innovative Technologies Blockchain Artificial Intelligence and Quantum Computing Rosario Girasa All Chapter

Uploaded by

Copyright:

Available Formats

Regulation of Innovative Technologies:

Blockchain, Artificial Intelligence and

ISBN 978-3-031-03868-6 ISBN 978-3-031-03869-3 (eBook)

Cover illustration: Image courtesy of batuhan toker / Alamy Stock Photo

It is difficult to write a text concerning the latest technologies because

A cautionary note: Statements and opinions are those of the authors

Pleasantville, NY Rosario Girasa

Alice Corp. v. CLS Bank Intern, 573 U.S. 208 (2014)

Gallagher v. Bitcointalk.org, 3:18-cv-05892 (N.D. Ca. Sept. 24, 2018)

SEC v. W.J. Howey Co., 328 U.S. 293 (1946)

Genetic Information Discrimination Act of 2008 (GINA), Pub.

Maryland: Personal Information Protection Act-Security Breaches

Presidential Executive Orders (EO)

President William Jefferson Clinton

President Barack Obama

President Donald Trump

President Joseph Biden

European Union Regulations, Directives, Proposals,

particular electronic commerce, in the Internal Market (e-Commerce

Rosario Girasa (Roy J. Girasa)

1 Overview of Current Innovative Technologies 1

2 Regulation of Blockchain and Cryptocurrencies 15

3 Regulation of Artificial Intelligence 63

5 States’ Regulation of Artificial Intelligence115

6 Regulation of Antitrust and Intellectual Property Rights145

7 International Regulation of Emerging Technologies179

ACP Algorithm change protocol (in NYC, automated decision systems)

STEM Science, technology, engineering, and mathematics

Overview of Current Innovative

Stages of Technological Developments

© The Author(s), under exclusive license to Springer Nature 1

Stages of Technological Progress

encouragement for their developments. Most of the analyses in this text

Blockchain, Bitcoin, and Other

Blockchain as the Basis for Bitcoin and Other Cryptocurrencies

permanent, accessible to all persons globally, essentially immutable, and

is initially publicly made and is subject to verification by the miners to

their speculative nature. Several new cryptocurrencies’ offerings in this

Definitions of Artificial Intelligence (AI)

Quantum Computing Basics

instructions, to execute the command in binary or ASCII (American

computer use. On July 5, 2021, New Scientist magazine reported that a

National Quantum Initiative Act

in the House of Representatives and unanimously in the Senate with the

Additional White House Initiatives

solutions enable transformative scientific and industrial progress. The ini-

• Strengthen federally funded R&D programs from the issuance of

• Drive economic growth and maintain national security by promoting

The perennial problem will be the ability of individuals to learn the

In Chap. 2, we will review blockchain and governmental initiatives or

Nature and Types of Currencies

© The Author(s), under exclusive license to Springer Nature 15

on experience. It could be worthless, as exemplified by $100 billion cur-

Classification of Bitcoin and Alternative Cryptocurrencies

program; recordkeeping and reporting requirements, including suspicious

US Federal Agencies’ Regulation

Securities and Exchange Commission (SEC)

that whether an ICO meets the Howey test requirements is dependent on

purchaser reasonably expects the AP to undertake efforts to promote its

Statutes and Regulations Cited by the SEC for Civil Complaints

SEC Enforcement of Registration Requirements

marketed REcoin as “The First Ever Cryptocurrency Backed by Real

investors to make additional investments by emailing investors fictitious

Pleasantville, NY Rosario Girasa

1 Overview of Current Innovative Technologies 1

2 Regulation of Blockchain and Cryptocurrencies 15

3 Regulation of Artificial Intelligence 63

5 States’ Regulation of Artificial Intelligence115

6 Regulation of Antitrust and Intellectual Property Rights145

7 International Regulation of Emerging Technologies179