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Usman M. Sheikh

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Usman Sheikh is Chair of the Blockchain & Fintech Practice. He is a Transactional Partner in Baker McKenzie's Toronto office and is also a member of the Firm's Litigation and Government Enforcement Practice Group. A highly regarded thought leader on blockchain and distributed ledger technology, Usman has briefed the offices of several prime ministers, as well as ministers, on blockchain's disruptive power, and is regularly invited to speak to business leaders and at global blockchain conferences throughout the world. Usman was named as one of the "Top 25 Most Influential Lawyers" by Canadian Lawyer (2018) and as one of the top FinTech lawyers in Canada (Band 1) by Chambers for four consecutive years (2020 - 2023). Most recently, he was recognized in Toronto Life's The Influentials 2021 list, an annual feature that highlights Toronto's most influential people over the last 12 months. Author of over 25 legal and academic publications, Usman is set to publish The Law of Blockchain Technology (Thomson Reuters) in 2023. As a global thought leader on blockchain's disruptive power, Usman has lectured at the International Monetary Fund (IMF), the Bank for International Settlements (BIS), the Financial Stability Board (FSB) and the Monetary Authority of Singapore (MAS). He has also co-lectured with the heads of blockchain for Nasdaq and the TMX, and has also presented to the Investment Industry Regulatory Organization of Canada (IIROC), the Mutual Fund Dealers Association (MFDA), the Law Society of Ontario (LSO), the Royal Canadian Mounted Police (RCMP), the Chartered Professional Accountants of Canada (CPA), and several other regulatory organizations. Since 2019, Usman has also been serving as an Adjunct Professor with the University of Toronto (Faculty of Law), teaching a course entitled "Blockchain, Digital Assets, and the Law". Usman regularly advises clients on FinTech, blockchain and digital asset matters, both on corporate and litigation cases. He has provided legal counsel on cutting-edge token sales, NFTs, crypto asset trading platforms (aka currency exchanges), blockchain / FinTech mergers & acquisitions and cybersecurity breaches. He has also served as counsel on many of the most prominent and novel crypto litigation matters in Canada. Over the years, Usman's clients have included Canada's largest banks and stock exchanges, co-founders of Ethereum, supranational organizations, 12 of the largest crypto assets in the world, DeFi protocols, metaverse projects, as well as several fintech pioneers.

In brief The Canadian Competition Bureau (“Bureau”) has announced a significant initiative to explore the impacts of artificial intelligence (“AI”) on competition in Canada. On 20 March 2024, the Bureau published a discussion paper, entitled “Artificial intelligence and competition” (“Discussion Paper”), and has requested feedback from the public. The Bureau is seeking to better understand how AI can affect competition in Canada. It is also seeking to determine how it can better prepare to address…

On March 18, 2024, the United States Securities and Exchange Commission (the “SEC”) announced that it settled charges against two investment advisers for making false and misleading statements about their purported use of artificial intelligence (AI). This SEC enforcement action marks the latest efforts by securities regulators to combat the adverse effects of “AI washing” and confirms that AI, and particularly “AI washing”, is at the forefront of securities regulators’ minds. What is “AI washing”?…