News & Analysis as of

Digital Currency Proposed Legislation Financial Services Industry

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - February 2024 Updates

CryptoLink is a compilation of news stories published by outside organizations. Akin aggregates the stories, but the information contained in them does not necessarily represent the beliefs or opinions of the firm. Akin's...more

Allen Matkins

Bill Would Authorize DFPI To Take Enforcement Actions Before A Violation Occurs

Allen Matkins on

In February, I wrote that Assembly Member Timothy S. Grayson was taking another run at enacting a Digital Financial Asset Law.  His bill, AB 39, has steadily progressed and is now pending in the Senate.  According to the...more

WilmerHale

Crypto Currently: New York Attorney General James Proposes Landmark Digital Asset Law

WilmerHale on

On May 5, New York Attorney General Letitia James announced a landmark legislative proposal—titled the Crypto Regulation, Protection, Transparency, and Oversight (CRPTO) Act (hereinafter, the Proposal)—to tighten regulations...more

Sheppard Mullin Richter & Hampton LLP

New York Settles with Crypto Company, Proposes Crypto Legislation

On May 1, NYDFS settled with a cryptocurrency trading platform over the company’s cybersecurity deficiencies, resulting in a consent order and $1.2 million fine for the crypto company. NYDFS alleged “multiple deficiencies in...more

Ballard Spahr LLP

Draft Legislation Seeks to “Keep Big Tech Out Of Finance”

Ballard Spahr LLP on

On July 15, the Democratic majority of the House Financial Services Committee introduced draft legislation, titled “Keep Big Tech Out Of Finance Act,” targeting Libra, Facebook’s contemplated new digital currency. As a follow...more

Burr & Forman

Legislative Update: Uniform Regulation of Virtual-Currency Business Act

Burr & Forman on

Last October, the Uniform Law Commission released the Uniform Regulation of Virtual-Currency Business Act (VCBA), which sets forth extensive requirements applicable to persons or entities who engage in virtual currency...more

Ballard Spahr LLP

House Financial Services Committee passes bills to enhance sharing of information about bank vendors by regulators; create...

Ballard Spahr LLP on

This week, these three bills were passed by the House Financial Services Committee. The first two bills were passed by unanimous votes and the third bill was passed by a vote of 34-22....more

Proskauer - Blockchain and the Law

State-Level Legislation Anticipates Wide-Spread Business Use of Blockchain

On a daily basis, companies are announcing new developments on the adoption of blockchain in core business operations. However, many of these use cases present unique legal issues. In order to provide some clarity on some of...more

Ballard Spahr LLP

Uniform Act to Regulate Virtual Currency Businesses Ready for State Adoption

Ballard Spahr LLP on

A new proposed law to create a statutory framework for regulating persons engaging in virtual-currency business activity, the Uniform Regulation of Virtual-Currency Businesses Act (URVCBA), has been approved by the Uniform...more

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