Commencing on September 1, 2015, Texas will join several other states in requiring that certain stored value cards be redeemable for cash.
Texas House Bill 2391, which becomes effective September 1, 2015, requires cash...more
Texas renews effort to require that certain stored value cards be redeemable for cash if the balance on the card is less than $2.50.
In early March, Texas House Bill 2391 was introduced. It would require a cash refund...more
On February 27, 2015, California Assemblyman Matt Dababneh, chairman of the state's Banking and Finance Committee, introduced Assembly Bill 1326, which would prohibit a person from engaging in California in the business of...more
A mobile app that collects users’ location data while the mobile app is not in use should clearly disclose such practices and provide users with choices. Failure to do so could give rise to an FTC claim of deceptive...more
Unlike New York, Kansas, and Texas, which have either published proposed regulations or formal guidance, some states, such as California, have indicated that they are still trying to determine whether Bitcoin and other...more
Pennsylvania may be joining the several states that require that certain gift cards and gift certificates be redeemable for cash. Senate Bill 150 would require that a gift card or gift certificate be redeemable for cash when...more
Coinbase, the self-proclaimed world's most popular bitcoin wallet provider, announced on January 20th that it raised $75 million in a Series C financing, which brings Coinbase's total capital raised to $106 million. The round...more
On Friday, Michael Dell, CEO of Austin-based Dell Inc., announced on twitter that Dell.com is now accepting Bitcoin as a direct payment option for consumers and small businesses in the U.S. Other major companies, such as...more
The California Attorney General recently released a series of guidelines to assist with compliance with the California Online Privacy Protection Act of 2003 (CalOPPA), which was amended to require new data collection and Do...more
Connecticut may join a number of states that currently require merchants to provide the remaining balances on gift cards to consumers in cash upon request....more
Both the Central Bank of Russia and the Russian Prosecutor General's Office explained that the rouble is the country's sole official currency and that the production of alternative monetary products, such as Bitcoin and other...more
On Friday, September 27, 2013, California Governor Edmund G. Brown signed Assembly Bill 370, a bill that amends the Business & Professions Code § 22575 to require an operator of a commercial Internet website or online service...more
FinCEN recently issued interpretive guidance to clarify that it views certain activities involving convertible virtual currencies as money transmission services under the Bank Secrecy Act and FinCEN regulations. If your...more