Joel heads Sullivan's Fintech and Blockchain Group. He is a highly-regarded trailblazer in the fintech, blockchain, and cryptocurrency space. Joel's clients’ size and nature vary from governments, top cryptocurrencies, and large enterprises to smaller startups, who describe him as a “very sharp and very experienced partner” who is “super pragmatic” and can “sort through the chaff and get to the nub of things impressively quickly.”
His representative client work includes advising the Marshall Islands in creating digital sovereign currencies; helping to launch ndau, a buoyant stablecoin virtual currency; structuring for Gita Holdings/GreatX a structured, principal-protected tokenized investment product allowing investors to obtain upside exposure to hotel room blocks in various hotel properties; as well as providing regulatory advice to prominent blockchain projects including Aeternity, IOTA, NEM, and Celsius.
Being recognized worldwide as an authority on blockchain and digital asset issues, Joel currently sits on several of the industry’s leading research groups and has spoken extensively worldwide. He works on global regulatory policy initiatives for the Chamber of Digital Commerce, the Blockchain Research Institute, the Global Blockchain Business Council, Wharton Reg@Tech, and the Wall Street Blockchain Alliance’s Legal Working Group. He co-founded the Stablecoin Foundation, a global trade association for stablecoins in October 2018.
Joel was recognized by Chambers and Partners as one of 13 leading Fintech, Blockchain, and Cryptocurrency lawyers in the United States and as one of the six leading Fintech lawyers in the United States by the Legal 500. He was also named Law360’s 2020 Fintech MVP.
His ability to express new and extremely complex legal issues in plain English has made Joel a go-to source for clients as well as conferences and reporters around the world. In the past, he has spoken at the World Economic Forum's Blockchain Central in Davos, Harvard Law School, the Government of the Bahamas and the Carnegie Corporation, and been quoted by the Wall Street Journal, New York Times, Forbes, Reuters, and CoinDesk, among others.
In addition to a J.D. from the University of Iowa College of Law, Joel has a M.B.A. from the Wharton School, University of Pennsylvania.
Representative Client Work
- Representing and negotiating on behalf of one of the world’s largest banks in connection with its global derivatives exposure to the Lehman estate
- Representing a global bank in the disposition of its asset management business
- Structuring and negotiating the program documentation for an $8 billion origination and $6.5 billion commercial mortgage securitization business
- Representing a consortium of some of the world’s largest asset managers in negotiations with the CFTC and SEC in connection with various Dodd-Frank regulatory issues
- Representing bank creditor committees in connection with the restructuring of the public sector debt of Mexico, Argentina and Brazil
- Representing a public company in a $1.5 billion convertible note issuance with a call-spread overlay
- Structuring a $1.2 billion Peruvian toll road structured note financing
- Structuring the first issuance of digital securities utilizing blockchain technology
- Representing the City of Detroit in the unwinding of various swap transactions as part of Detroit’s bankruptcy filing
- Starting the U.S. legal department for one of France’s largest financial institutions and overseeing the launch of its structured finance, commercial paper, securitization, derivatives, municipal finance and hedge funds U.S. lines of business
- Structuring one of the first LBOs in France
- Successfully negotiating for a global bank the return of $5 billion of collateral from AIG immediately prior to its U.S. government bailout
- Structuring a $175 million senior convertible note private placement
- Structuring a $500 million synthetic loan-linked total return swap facility
- Structuring a $150 million equity-linked note issuance
- Structuring a CDO-linked credit opportunity fund
- Structuring a $250 million credit default swap facility acting as back-stop to a structured investment vehicle
- Negotiating accelerated share repurchase transactions on behalf of multiple public companies
- Structuring a $50 million total return swap facility backstopping a commercial paper conduit
- Structuring a multi-asset revolving repurchase facility for mortgage whole loans, GNMA securities, participation certificates and other assets
- Structuring a $90 million leveraged hedge fund of funds linked total return swap with embedded liquidity facility used to make monthly purchases of reference assets and notional adjustments to offset total return shortfalls
- Structuring a repo facility secured financing intended to take out SPV-issued B notes issued to finance a pool of cross-collateralized hotel loans
- Advising a global investment bank in structuring its real estate financing activities to satisfy Volcker Rule and risk retention requirements
- Representing a CDO/CLO asset manager with respect to negotiating engagement letters, asset management agreements, warehouse lending agreements and other related documents
- Structuring and documenting a $6 billion benefit-responsive investment contract program and $3 billion municipal guaranteed investment contract program
- Structuring and documenting a $1 billion floater/inverse floater tender option bond program
- Advising a non-U.S. bank’s asset manager arm on unwinding its hedge fund business and closing down a number of hedge funds
- Advising a Singapore-based bank on its U.S. asset management activities and U.S. investment adviser requirements
- Advising a non-U.S. bank on its U.S. commodity pool and commodity trading advisor activities
- Advising a large U.S. bank on CFTC regulatory issues with respect to its registered swap dealer entity
- Advising a large mutual fund group on restructuring its non-U.S. fund operations to conform to Dodd-Frank
- Advising large foreign public sector pension plans on conforming their U.S. activities to comply with Dodd-Frank, investment adviser and commodity pool law requirements
Bar & Court Admissions
- New York
Education
- M.B.A., University of Pennsylvania, Wharton School
- J.D., with distinction, The University of Iowa
- B.B.A., The University of Iowa
Community Engagement
- Member, Board of Directors, University of Iowa Law School Foundation
- Member, Editorial Board of the Journal of Structured Finance (published by Institutional Investor)
- Member, Wall Street Blockchain Alliance and its Legal Working Group
- Member, Digital Currency & Ledge Defense Coalition
- Member, New York City Bar Futures and Derivatives Regulation Committee
- Member, ABA Derivatives and Futures Law Committee
- Faculty Member, Blockchain Research Institute
- Former Adjunct Professor, NYU Law School, Global Derivatives Regulation
Awards & Honors
- Top 15 U.S. Legal Crypto Practitioners, Citywealth, 2022
- Law360’s 2020 Fintech MVP
- Chambers FinTech (2019-2023)
- "Deal Maker of the Year," Finance Monthly, 2014 ($1.5 billion issuance by SanDisk)
- "Lawyer of the Year," Corporate LiveWire, 2014
- New York Super Lawyers (2006-2007; 2013-2022)
- "Leading Lawyer," The Legal 500 U.S. (2019-2022)
- The Legal 500 U.S. (2009-2017, 2019-2022)
-
TechCrunch, QuotedJanuary 31, 2023
-
Law360, QuotedJanuary 2, 2023
-
Press ReleaseDecember 6, 2022
-
Law360, QuotedNovember 10, 2022
-
Press ReleaseSeptember 28, 2022
-
Press ReleaseJune 8, 2022
-
Press ReleaseDecember 10, 2021
-
New York Super Lawyers MagazineSeptember 30, 2021
-
FinOps Report, QuotedJuly 24, 2021
-
Press ReleaseJune 9, 2021
-
Client AlertMay 3, 2021
-
Business InsiderFebruary 27, 2021
-
Press ReleaseDecember 10, 2020
-
Fastinform, QuotedOctober 9, 2020
-
Press ReleaseOctober 5, 2020
-
New York Metro Super Lawyers MagazineSeptember 29, 2020
-
Client AlertSeptember 22, 2020
-
Sullivan Press ReleaseJuly 28, 2020
-
Client AlertJuly 24, 2020
-
Client AlertJuly 13, 2020
-
Press ReleaseJune 10, 2020
-
Decrypt, QuotedMay 31, 2020
-
AMBCrypto, QuotedMay 22, 2020
-
Client AlertApril 2, 2020
-
Client AlertFebruary 7, 2020
-
Global Blockchain Business Council 2020 Annual ReportJanuary 2020
-
Client AlertJanuary 22, 2020
-
Press ReleaseJanuary 16, 2020
-
Sullivan Client AlertDecember 11, 2019
-
Client AlertNovember 26, 2019
-
The Jerusalem Post, QuotedOctober 11, 2019
-
Client AlertOctober 10, 2019
-
Aeternity Universe One ConferenceSeptember 20, 2019
-
New York Metro Super Lawyers MagazineSeptember 12, 2019
-
TokenEyesJuly 28, 2019
-
CoinDesk LIVEJuly 18, 2019
-
A Swift Kik Or a Slow Roll? Crypto Lawyers Address Tough Questions About SEC v. Kik Interactive Inc.Forbes, QuotedJune 10, 2019
-
Sullivan Press ReleaseMay 30, 2019
-
Wall Street Blockchain AllianceMay 16, 2019
-
Nasdaq TradeTalksMay 15, 2019
-
BTCNN, QuotedMarch 27, 2019
-
Bitcoin Exchange Guide, QuotedMarch 26, 2019
-
The Tokenist, QuotedMarch 26, 2019
-
BitcoinerX, QuotedMarch 25, 2019
-
Forbes, Bitcoin Exchange Guide, BitcoinerX, The Tokenist, BTCNNMarch 25, 2019
-
Bitcoin Exchange Guide, QuotedMarch 25, 2019
-
Forbes, QuotedMarch 24, 2019
-
Raconteur, QuotedDecember 5, 2018
-
Eye On Blockchain, QuotedDecember 4, 2018
-
Press ReleaseNovember 28, 2018
-
Blockchain Research InstituteNovember 19, 2018
-
Coin Rivet, QuotedOctober 30, 2018
-
Press ReleaseOctober 29, 2018
-
New York Metro Super Lawyers MagazineSeptember 13, 2018
-
Press ReleaseSeptember 4, 2018
-
Dell Technologies, QuotedAugust 2, 2018
-
BTCManager, QuotedApril 6, 2018
-
NewsBTC, QuotedApril 3, 2018
-
U.S. News, QuotedApril 2, 2018
-
March 1, 2018
-
Global Finance, QuotedJanuary 11, 2018
-
Law360January 3, 2018
-
Client AdvisoryDecember 15, 2017
-
Board IQ, QuotedDecember 5, 2017
-
The Investment LawyerNovember 8, 2017
-
Press ReleaseOctober 10, 2017
-
New York Metro Super Lawyers MagazineSeptember 20, 2017
-
July 2017
-
Risk.net, QuotedJuly 25, 2017
-
CoinDesk, QuotedMay 16, 2017
-
Client AdvisoryMarch 17, 2017
-
Client AdvisoryMarch 1, 2017
Seminars & Presentations
- AnySizeDealsWeek – ASDToken
The Venetian, Las Vegas, NV (September 9, 2021) - Digital Currency: an Alternative to Global Rails
NEST Financial Webinar (January 21, 2021) - Paris Blockchain Week Summit 2020
Paris, France (December 10, 2020) - 20/20 Vision: Blockchain and the Future of Law
The University of Iowa College of Law (October 16, 2020) - Central Bank Digital Currency (CBDC): Developments, Adoption and Challenges
2020 U.S. Fintech Symposium (September 15, 2020) - Update: Marshall Islands' SOV Initiative
CBDC Forum (September 8, 2020) - Token Summit Liechtenstein 2020: Token Regulation
Crypto Country Association (August 20, 2020) - Asia Blockchain Summit 2020
Taipei, Taiwan (July 15, 2020) - Sovereign and Central Bank Digital Currency - Is Cash Still the King?
Celesq (May 27, 2020) - Regulatory Issues for Institutional Trading: StableCoins, Custody and KYC/AML
Blockchain Center (May 21, 2020) - Update on the Blockchain Ecosystem
GBBC Legal & Regulatory Group (May 21, 2020) - Going It Alone: Inside the Marshall Islands' SOV
Consensus 2020 (May 12, 2020) - Digital Transformation for Central Banks and Financial Ecosystems
Startup Societies Virtual Summit (May 2, 2020) - Digital Securities
Penn Blockchain Conference, The Wharton School (April 25, 2020) - Bitcoin Tax & Regulatory Panel Series
RIA Digital Assets Council (February 20, 2020) - Crypto World Summit
Sheraton New York Times Square Hotel, New York, NY (February 20, 2020) - SEC Laws, Rules and Regulations on ETF Crypto & Digital Assets
4th Annual International Crypto World Summit (February 20, 2020) - Tax and Regulatory Issues
Diplomat Beach Resort, Hollywood, FL (January 26, 2020) - CCB & KoinEra Blockchain Seminar
China Construction Bank New York Branch (December 20, 2019) - Navigating the Regulatory Environment for Blockchain Businesses
Blockland Solutions Conference 2019 (December 19, 2019) - It's Official: Ether Is a Commodity, Not a Security – Understanding the World of Digital Assets
Celesq AttorneysEd Center (November 22, 2019) - Fordham Law Blockchain Regulatory Symposium
Fordham Law School (November 11, 2019) - Roadmap for Survival, Compliance and Success
West Meets East Summit (November 8, 2019) - IP & Blockchain
Embracing Blockchain: Its Place in a New Decade (November 1, 2019) - Wharton Power Dinner 2019 Series
Philadelphia, PA (October 25, 2019) - World Blockchain Forum
Altman Building, New York, NY (September 27, 2019) - Myths Versus Reality — Regulating Crypto
Aeternity Universe One Conference (September 20, 2019) - Journey 2019
Tel Aviv, Israel (September 18, 2019) - The Future of Blockchain
Blockchain means Business (September 12, 2019) - Regulatory Aspects of Cryptocurrencies
Global Legal Forum Conference (August 15, 2019) - Blockchain Technology and Digital Assets
Global Blockchain Business Council (July 18, 2019) - Where Space, Big Data, and Healthcare Converge
Celestialdata (June 26, 2019) - The New Oil fueling investment industry insights
Harness All Possibilities (June 13, 2019) - Blockchain & The New "Community Value" Movement
Sullivan Conference Center, New York, NY (May 22, 2019) - Understanding the Risk and Complexity of the Stablecoin Market
Sullivan Conference Center, New York, NY (May 16, 2019) - Digital Asset Summit
BlockWorks Group (May 15, 2019) - Globally Local Blockchain Fintech and AI Symposium
New York Institute of Technology (May 15, 2019) - Blockchain for Financial Markets in China and the U.S.
US-China BlockTalk Series (May 13, 2019) - 2019 New York Block Plus Summit
BitMart Labs (May 11, 2019) - FinTech Ecosystem: Regulatory Challenges and International Expansion Issues
Harvard Law School (May 2, 2019) - Globally Local Blockchain, Fintech and AI Symposium
Sullivan Conference Center, New York City (May 1, 2019) - Government & Regulation
Blockchain Revolution Global Conference (April 23, 2019) - What’s Around the Corner? Identifying Technological Advances and Business Model Example
Urban Land Institute (April 18, 2019) - Blockchain as a Disruptor in Global Markets: Decentralization in Payments, Lending, Peer-to-Peer & More
After the Bell (April 16, 2019) - Sullivan Hosts Project Basta Event
Sullivan Conference Center, New York City (April 9, 2019) - The Latest in Blockchain
Central Bank of the Bahamas (March 18, 2019) - Blockchain: Legal Issues and Use Cases Beyond Cryptocurrencies
Columbia University (March 8, 2019) - Lawyer Coding Initiative
Columbia Law School (March 8, 2019) - Token Exchanges - The Promise of Liquidity, Compliance and Stability
Sullivan & Worcester Conference Center, New York City (March 7, 2019) - Cryptocurrency: What the Hell is Going On?
SFIG Vegas 2019 (February 27, 2019) - Blockchain and 'Real News': A New Frontier
Sullivan & Worcester Conference Center, New York, NY (January 16, 2019) - Stablecoins: The Future of Cryptocurrencies
BlockChainge DC (January 14, 2019) - Blockland Solutions Conference
Blockland Cleveland (December 1, 2018) - The Role of Investors in Shaping the Stablecoin Ecosystem
Stablecoin New York Conference (November 26, 2018) - Blockchain: Connecting the Dots Along the Dealmaking Process
The Deal (November 15, 2018) - Blockchain: Transforming a Technology Vision Into a Global Reality
COSIMO Verbatim Summit 2018 (November 13, 2018) - Navigating the Future of Blockchain Technology and Global Applications Conference
New York City (November 10, 2018) - Industry Self-Regulatory Trade Group Initiative
Stable Conf 2018 (November 8, 2018) - World Blockchain Forum — STO&Stable Coin New York 2018
World Blockchain Forum Corp (November 8, 2018) - Key Issues Surrounding Cryptocurrency Today
Foreside Financial Group (October 30, 2018) - Stablecoins: Collaboration Towards Mass Adoption
Army & Navy Club, London (October 25, 2018) - Fintech in Trade and Trade Finance — legal issues now and going forward
(October 24, 2018) - Blockchain Diversity and International ICO
Global Blockchain Summit (October 20, 2018) - Regulatory Update—What’s New at the SEC, FINRA and CFTC
Blockchain Shift (October 11, 2018) - Where is Blockchain Working Today?
Evolving Links (October 9, 2018) - Topics Related to ICOs and Crypto Currency
Withum Global Summit (September 27, 2018) - Future of Crypto Regulations: Are we at the end of an era or at the beginning of new cooperation?
Futurama Blockchain Innovators Summit (September 13, 2018) - Regulatory Approaches to Cryptocurrencies and Token Sales
Wharton Reg@Tech (September 9, 2018) - Regulation and Compliance in Blockchain Investing
Caden NYC (August 7, 2018) - Crypto Hedge Fund Summit 2018
New York Marriott Downtown, New York (July 27, 2018) - Path Toward Exchanges
Crypto Funding Summit: Security Tokens & ICOs (July 25, 2018) - Change or Die! The Transformation of Financial Markets
European Business Leaders' Convention (June 28, 2018) - A Global Perspective on Regulatory Frameworks for Cryptocurrency and ICOs
Bahamas Blockchain and Cryptocurrency Conference (June 21, 2018) - All-Member Summit
Blockchain Research Institute (June 13, 2018) - Charting a Path Towards Sensible Blockchain Regulation
Blockchain Research Institute (June 13, 2018) - The Spring Investment Institute Forum
The Investment Institute (May 22, 2018) - Regulation Roundtable
Blockchain Research Institute (May 10, 2018) - Debate Night: Blockchain in Finance
Sullivan & Worcester Conference Center, New York, NY (May 8, 2018) - Fireside Chat: Cambridge Analytica Whistleblower, Brittany Kaiser
Sullivan & Worcester Conference Center, New York, NY (April 19, 2018) - Bitcoin and Cryptocurrency Advantages and Potential Threats
Amcham Finland (April 9, 2018) - Blockchain: All you need to know
iBeeHub Foundation (April 7, 2018) - Conference on Technology and Future Economy 2018
John Hopkins School of International Relations (April 6, 2018) - Crypto's, ICOs, CBDC, oh my! Where are we going with these?
R3 (April 4, 2018) - Tokenization: Intro to New & Powerful Form of Decentralized Value Creation
Asset Tokenization NYC (April 3, 2018) - Quesnay TechTalks AI: Directionally right but down a slippery slope?
Quesnay TechTalks (March 26, 2018) - Crypto-Skeptic or Believer: What does 2018 have in store for Cryptocurrencies?
PluggedIn BD (March 21, 2018) - Blockchain Evolution and the Rise of Securitized Assets
Agentic Group (March 6, 2018) - ICOs - Best Practices
Davos-Klosters, Switzerland (January 22, 2018) - The Basics of Bitcoin Structuring
New York City Bar Center, New York, NY (January 18, 2018) - Blocktails - The Future of Blockchain with Holiday Cocktails
Sullivan & Worcester Conference Center, New York, NY (November 27, 2017) - Unpacking the new wave of hybrid ICOs
Sullivan & Worcester Conference Center, New York, NY (October 24, 2017) - Personal Data Week
Sullivan & Worcester, 1633 Broadway, 32nd Floor, New York, NY (August 21, 2017) - Are Digital Coins in Bubbles?
World FinTech Forum 2017 (July 21, 2017) - Understanding Smart Contracts: What Are They, Are They Legally Enforceable, How Can They Be Used, and What Are the Hurdles to Adoption?
World FinTech Forum 2017 (July 20, 2017) - Global Transactions in the Age of Trump and Brexit
Convene Midtown East, New York, NY (June 13, 2017) - Developments Involving FinTech and BlockChain Initiatives
Pinners Hall, 105-108 Old Broad Street, London EC2N 1EN (May 18, 2017) - Towards a Financial Singularity: How Blockchains and Tokenization Are Disrupting Capital, Redefining Value and Creating Financial Inclusion
Sullivan & Worcester, 1633 Broadway, New York, NY (April 18, 2017) - Emerging Links Blockchain Conference
Sao Paulo, Brazil (April 5, 2017)
Practices
- Broker-Dealer Regulation
- Capital Markets
- Corporate
- Emerging Companies & Venture Capital
- Finance
- Financial Derivatives
- Fintech & Blockchain
- Investment Advisers, Commodity Trading Advisors and Institutional Investors
- Investment Management
- Mergers & Acquisitions
- Private Investment Funds & Institutional Investors
- Real Estate, Alternative & Offshore Investment Funds
- Securitization