Pillsbury Social Media, Entertainment & Technology Team

Five Things to Know about New Jersey’s Taxation of Convertible Virtual Currency

On March 10, 2015, the New Jersey Division of Taxation issued Technical Advisory Memorandum TAM-2015-1, explaining its policy regarding convertible virtual currency. The IRS has held that convertible virtual currency (CVC), such…more
| Commercial Law & Contracts, Finance & Banking, Science, Computers, & Technology, Taxation

Around the Virtual World: April 6 – 10, 2015

A weekly wrap up of interesting news about virtual worlds, virtual goods, and other social media. In This Issue: - Will Doctors Soon Prescribe Video Games? - 5 ways the Postal Service could save money with…more
| Communications & Media Law, Finance & Banking, Health, Science, Computers, & Technology

Nintendo moves towards mobile gaming

This week, Nintendo shocked the gaming industry when it announced a partnership with DeNA, a company that makes free-to-play games for mobile phones. Historically, Nintendo has been resistant to releasing their well-known games…more
| Art, Entertainment, & Sports Law, Communications & Media Law

Virginia Serious Game Institute Calls for Applications for Entrepreneurs in Simulation, Modeling and Serious Game Design

Each year, the Virginia Serious Game Institute invites applicants to reside in the business incubator located on the George Mason University - Prince William Campus in Prince William County, Virginia. Each application requires…more
| Art, Entertainment, & Sports Law, Communications & Media Law, Education, Science, Computers, & Technology

California Virtual Currency Legislation

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
| Commercial Law & Contracts, Finance & Banking, Science, Computers, & Technology

Bitcoin Game Changer?

Former Goldman Sachs, Morgan Stanley, BNP Paribas and Societe Generale bankers have announced a new futures and options derivatives-trading platform for bitcoin. The derivatives, tied to the price of bitcoin, will enable…more
| Commercial Law & Contracts, Finance & Banking, Science, Computers, & Technology, Securities Law

Colorado Bill Targets Internet Sweepstakes Cafés and Similar Establishments

Colorado House Bill 1047 would make internet sweepstakes cafés illegal under Colorado law. The law declares that internet sweepstakes cafés and similar establishments in which simulated gambling devices are used to award prizes…more
| Administrative Law, Art, Entertainment, & Sports Law, Communications & Media Law, Science, Computers, & Technology

California Still Unsure About Bitcoin Regulation

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 virtual…more
| Finance & Banking, Science, Computers, & Technology

Not So Silky Road

The founder of Silk Road, the black market website where illegal goods were bought with bitcoin, was found guilty on all 7 counts, including money laundering, drug trafficking and computer hacking. While this is an unfortunate…more
| Communications & Media Law, Criminal Law, Finance & Banking, Science, Computers, & Technology

NH House Introduces Bill to Exempt Certain Users of VC From The Money Transmitter Licensing Requirements

On January 8, 2015, New Hampshire House Bill 356 was introduced, proposing to exempt persons using private virtual currencies for internet commerce from the licensing requirements for money transmitters. H.B. 356 would define…more
| Communications & Media Law, Finance & Banking, Science, Computers, & Technology

Major Financial Institutions Show Support For Bitcoin by Investing in Coinbase

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
| Communications & Media Law, Finance & Banking, Science, Computers, & Technology

FinCEN Addresses Illegal Sports Betting

FinCEN issued an alert indicating that certain organizations and individuals have been circumventing various laws related to sports betting, including by permitting "third-party betting" and reminding the industry about the…more
| Art, Entertainment, & Sports Law, Communications & Media Law, Finance & Banking

Stop Calling Me: Can Consumers Waive The Right to Revoke Consent under the TCPA

The Telephone Consumer Protection Act permits companies to make telephone solicitations using autodialers and pre-recorded messages once they have a consumer’s consent to do so. Many authorities have suggested that such consent…more
| Commercial Law & Contracts, Communications & Media Law, Consumer Protection

Court Finds Poker Game Management Patents Valid Under Section 101

In denying a motion for summary judgment of invalidity under Section 101, the court stated: "An inability to articulate an abstract idea to which claims are directed may be a clue that those claims satisfy Section 101." The…more
| Art, Entertainment, & Sports Law, Civil Procedure, Intellectual Property, Science, Computers, & Technology

Another Court Declares Terms of Service Provisions Unenforceable - Are Yours?

Too many companies/lawyers treat website Terms of Service (TOS) as boilerplate agreements that no one reads. Many companies simply put a link at the bottom of the homepage. This approach continues to prove ineffective, as courts…more
| Commercial Law & Contracts, Communications & Media Law, Science, Computers, & Technology
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Contact: James Gatto

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