“AI is not only an emerging technology but a social contract. We must shape it to reflect our ethical values to safeguard democracy and human advancement.”- Summit Co-Chair, Patricia Lee
Santa Clara University School of Law and Loyola University Chicago School of Law’s Institute for Investor Protection jointly hosted the Investor Protection Summit in the Age of Crypto and AI on Friday, February 7, 2025. The summit brought together legal experts, regulators, scholars, and industry leaders to discuss pressing issues related to cryptocurrency and the ethical implications of artificial intelligence in corporate responsibility and the regulation of emerging investment technologies.
The summit began with welcoming remarks from Dean Michael Kaufman of Santa Clara Law, Patricia Lee, Clinical Professor of Law and Director of the Center for Business Law and the Business Law Clinic at Loyola Chicago Law, and Steve Ramirez, Director of the Center for Business Law at Loyola Chicago Law. Following these introductions, Paul Grewal, Chief Legal Officer at Coinbase, delivered the morning keynote address. Grewal discussed the historical role of the Securities and Exchange Commission in investor protection, the previous “Gensler-era SEC,” and the integration of cryptocurrency within the administration’s “pro-crypto governance.”
This year’s summit featured three dynamic panels addressing critical issues at the intersection of law and emerging technologies. The first panel, titled “Social Justice and Ethics in the Age of Crypto and AI,” was moderated by Linsey Krolik (J.D. ‘00), Assistant Clinical Professor of Law, Director of the TechEdge J.D. program, and Director of the Entrepreneurs’ Law Clinic at Santa Clara Law. Panelists included Maya Ackerman, Associate Professor of Computer Science and Engineering at Santa Clara University; Florence Chee, Associate Professor of Digital Communication and Director of the Center for Digital Ethics and Policy at Loyola Chicago; Hon. Edward Davila, Senior District Judge for the United States District Court for the Northern District of California; Patricia Lee, Clinical Professor of Law and Director of the Center for Business Law at Loyola Chicago Law; and Ann Skeet, Senior Director of Leadership Ethics at Santa Clara University’s Markkula Center for Applied Ethics.
The panel explored how generative AI is redefining ethical standards—especially in employment and individual welfare. Panelists examined the ramifications of privacy laws and AI-driven financial services on social justice, educating attendees on proactive measures to address potential risks while fostering ethical corporate practices.
The second panel of the day, “The Regulation of Novel Investments: Crypto, AI, and Beyond,” was moderated by Santa Clara Law Professor Edward Lee. He was joined by Lowell D. Ness, Partner at Perkins Coie; Steven Ramirez, the Abner J. Mikva Professor of Law and Director for the Center for Business Law at Loyola Chicago Law; Cheryl L. Wade, Dean Harold F. McNeice Professor of Law at St. John’s Law; and Spencer Weber Waller, Justice John Paul Stevens Chair in Competition Law, Professor and Director of the Institute for Consumer Antitrust Studies at Loyola University Chicago School of Law. The panel recognized the pressing need for precise regulatory oversight, with Ramirez emphasizing, “Getting regulation right is critical,” underscoring the importance of robust frameworks in maintaining market stability and investor confidence. The panel then discussed the strategic merits of innovative financial instruments, noting that “A Bitcoin reserve would not expose the nation holding the reserve to U.S. sanctions, unlike dollar reserves,” thereby highlighting potential pathways for strengthening national economic resilience.
The final panel of the day, “AI and the Litigation Terrain: Liabilities, Social Media, Memes, Risks, and Price Movement,” explored the impact of social media and retail trading on stock markets, specifically advocating for the use of social media “for good,” through practices like retail involvement, financial literacy, and the establishment of trust towards “finfluencers.” The panel was moderated by David Yosifon, Professor of Law at Santa Clara University, and featured esteemed speakers: Hon. Sara L. Ellis, Judge of the United States District Court for the Northern District of Illinois; Benjamin F. Jackson, Partner in Securities Litigation and Investor Protection at Cohen Milstein Sellers & Toll PLLC; and Sue S. Guan, Albert J. Ruffo Assistant Professor of Law at Santa Clara Law.
The summit concluded with remarks from Joel Seligman, President Emeritus and University Professor at the University of Rochester, and Dean Emeritus and Professor at Washington University, who adeptly captured the day’s discussions while underscoring the urgent need for proactive regulatory frameworks and collaborative innovation in the rapidly evolving realms of crypto and AI. The summit was capped off with a networking reception, providing a welcoming space for attendees and speakers to connect with one another.
“The Investor Protection Summit in the Age of Crypto, Artificial Intelligence & Beyond was a resounding success. At a pivotal moment when AI, emerging technologies, and crypto are rapidly evolving, we are reminded of the importance of ensuring our students engage with these innovations through the lenses of ethics, compassion, and a commitment to safeguarding democracy—principles at the heart of a Jesuit legal education. We are deeply grateful to all who made this event possible, especially to Loyola University Chicago School of Law for their invaluable support. We look forward to strengthening our partnership as we continue to equip the next generation of legal professionals to navigate this dynamic landscape.” -Summit Co-Chair, Dean Michael J. Kaufman
Take a look at the Summit photos!
Written by Derrick Lonzo Buhain, Student Writer for Santa Clara Law
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