Career
Stephen Palley is a litigation partner and chair of Brown Rudnick’s Digital Commerce group. Stephen is a seasoned litigator with over 20 years of extensive courtroom experience litigating and trying complex commercial matters. He has deep technical and U.S. regulatory knowledge, particularly in the digital asset space, and assists clients working on the frontiers of technology, including on deal work for blockchain and other technology enterprises. He uses his insurance knowledge and experience to advise clients on insurance coverage matters related to technology and other risks. Stephen has written extensively and been quoted widely on legal issues arising from the use of Blockchain technology, with appearances in both print and television media. He is an editor of the International Journal of Blockchain Law (IJBL), a law journal launched in November 2021 to help non-legal communities better understand Blockchain applications and digital assets. Before joining Brown Rudnick, Stephen founded his prior law firm’s Technology, Media and Distributed Systems Practice Group in 2017, which he also chaired. He serves as an outside general counsel to technology and media startups and as a trusted advisor to established businesses across a range of industries, with a focus on securities and financial regulatory law.
Publications
"What do US technology companies need to know about the UK’s Online Safety Act?," Brown Rudnick Briefings (September 15, 2025)
"Second Circuit Affirms Dismissal of Securities Claims Against Decentralized Trading Platform's Owners and Investors," Brown Rudnick Briefings (March 4, 2025)
"Can AI Be Used to Resolve Textual Ambiguity in Court Cases?" Brown Rudnick Briefings (July 17, 2024)
"U.S. Cryptoassets Law Over Borders Comparative Guide," The Global Legal Post (April 2024)
"Uncle Sam to Taxpayers: Show Me the Receipts (For Certain Digital Assets)," Brown Rudnick Briefings (January 21, 2024)
Work Highlights
Baton, d/b/a Pump.Fun, a well-known cryptocurrency platform that allows users to create memecoins, in the defense of two class action lawsuits in the Southern District of New York.
Atomic Wallet in winning dismissal of a class action lawsuit alleging that the cryptocurrency wallet company was liable for hackers stealing $100 million worth of digital currency from users’ accounts.
Proof-of-stake Blockchain developer in the successful defense, in arbitration, of an alleged breach of settlement agreement resolving a founder dispute.
Counsel for software developers and other digital asset market participants in connection with responses to U.S. regulatory inquiries and investigations related to DeFi and other blockchain related platforms and projects.
Counsel for a digital asset derivative exchange in connection with U.S. regulatory advice and compliance and law enforcement inquiries.
Counsel for NFT platforms, issuers, and investors in connection with regulatory compliance and dispute resolution matters.
Outside general counsel on regulatory compliance and investment decisions to major digital asset funds, family offices and investors.
Consumer arbitration and litigation on behalf of digital asset investors and holders on a wide range of disputes, including advisor agreements, wallet hacks, theft of NFTs and insurance coverage disputes.
Counsel for a major accounting and advisory firm in connection with digital asset engagements and risk management.
Representation of software developers in connection with the design, development and launch of several blockchain based and enabled platforms, including consultation regarding platform structure, compliance obligations, and content delivery.
Representation of media outlets in connection with First Amendment, pre-publication review and media liability matters.