FinCEN has taken the position that a person or developer that sells convertible virtual currency, including in the form of tokens sold in an ICO, in exchange for real currency or a substitute for currency, is a money services...more
Protostarr, a block-chain based startup, has shut down its decentralized application and refunded its initial coin offering (ICO) participants following a request for information from the U.S. Securities and Exchange...more
The Securities and Exchange Commission (SEC) announced on Tuesday, July 25, 2017, that Initial Coin Offerings (ICOs) and other market participants offering digital assets by “virtual” organizations may be subject to the...more
The Financial Crimes Enforcement Network recently issued two administrative rulings holding that certain virtual currency trading platforms and payment systems were subject to registration as money services businesses....more
Interesting question, but life is never easy, and digital currency brings its own set of challenges...more