Last week, the Russian Finance Ministry, in conjunction with the Ministries of Economic Development, Communications, Internal Affairs and Financial Monitoring, issued draft legislation amending existing Russian law to...more
Argentina -
In addition to issuing warnings about their use, Argentina has suggested an increased interest in virtual currency transactions by requiring financial institutions and other entities to report virtual...more
Virtual Currencies: International Actions and Regulations.
See Chart below for more information....more
On April 29, 2014, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a series of administrative rulings determining whether five different companies constitute money services...more
Virtual Currencies: International Actions And Regulations. See Chart for more information....more
Overview -
On January 30, 2014, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued two administrative letter rulings that clarify the application of FinCEN’s regulations to...more
The virtual currency industry is in the news once again following the October 1, 2013, Federal Bureau of Investigation’s shutdown of the “Silk Road” website. As part of the shutdown of the well-known underworld bazaar, the...more
A political action committee has sought an advisory opinion from the Federal Election Commission (FEC) as to whether bitcoins can be accepted as political contributions and, if so, how bitcoins should be characterized and...more
Riding the coattails of an August 6, 2013 federal court ruling that alleged Ponzi-schemer Trendon Shavers’ Bitcoin-based investment scheme constituted an investment contract, and therefore a “security” under the federal...more
In response to the SEC’s first civil complaint arising from online virtual currency trading, alleged Bitcoin Ponzi schemer Trendon Shavers recently challenged the district court’s authority to hear the case. ...more
On July 23, 2013, the SEC ventured into the electronic currency world by filing a civil complaint against virtual currency “trader” Trendon Shavers and his company, Bitcoin Savings and Trust, in the U.S. District Court for...more
Asset Seizures and Arrests Mark Recent Federal Virtual Currency Enforcement Actions -
Federal authorities have initiated several recent enforcement actions that are indicative of continuing regulatory changes in the...more
To address a perceived gap in regulatory treatment of increasingly popular virtual currencies, including Bitcoin, the U.S. Department of the Treasury Financial Crimes Enforcement Network (FinCEN) released new guidance on...more
Mobile point-of-sale payment terminals have experienced explosive growth over the past year. Unlike a traditional point-of-sale terminal, a mobile terminal communicates wirelessly when processing payment cards. There are...more