Virtual Currency Cybersecurity

Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender... more +
Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency.    less -
News & Analysis as of

FBI warns of continued use of Cryptowall ransomware schemes

The FBI’s Internet Crime Complaint Center recently issued an alert “Criminals Continue to Defraud and Extort Funds from Victims Using Cryptowall Ransomware Schemes” that indicates that the Center continues to receive...more

New York BitLicense Regulations Virtually Certain to Significantly Impact Transactions in Virtual Currencies

The New York State Department of Financial Services (NYDFS) recently issued its final BitLicense regulations with respect to Bitcoin and other virtual currencies. The new regulations require the licensing of, and establish...more

Expect Focus - ONLINE HEALTH CARE: NOT SO FAST Telemedicine Hits A Few Speed Bumps, Volume II, Spring 2015

In This Issue: - IN THE SPOTLIGHT • Risky Business: Common Cyber Security Risks, Expensive Consequences - LIFE INSURANCE • Ninth Circuit Finds Bonus Indexed Annuity Delivers Exactly...more

NY Dept. of Financial Services releases final Bitcoin license regulations

The New York Department of Financial Services (NYDFS) made history last summer when it proposed Bitcoin regulations (reportedly the first in the nation) including the requirement that financial firms handling virtual...more

OCC Comptroller Discusses Emerging Payment Systems Technology and Cybersecurity, FFIEC Set to Release Cybersecurity Assessment...

On June 3, in prepared remarks delivered at the BITS Emerging Payments Forum, OCC Comptroller Thomas Curry advised that as financial institutions continue to develop payment systems, banks need better preparation for...more

NY DFS Reveals Final BitLicense Requirements for Digital Currency Firms

On June 3, New York’s departing superintendent of financial services, Benjamin Lawsky, revealed that the agency has adopted final regulations of the BitLicense, the regulatory framework in which digital currency firms operate...more

Virtual Currency, Real Risks

CSBS publishes Draft Model Regulatory Framework to promote consistent state regulation of virtual currency activities and protect consumers in the event of a breach. In March 2014, “Mt. Gox,” one of the largest and best-known...more

Corporate and Financial Weekly Digest - Volume IX, Issue 48

In this issue: - Recent Developments Relating to Rights to Exclude Shareholder Proposals from Proxy Statements - SEC Approves MSRB Best Execution Rule - SEC Sanctions Operator of Unregistered Virtual...more

FinCrimes Update - November 2014 Summary, Volume 1, Issue 9

IN THIS ISSUE: BSA/AML & OFAC | Virtual Currency & Payment Systems | FCPA & Anti-Corruption | Criminal Enforcement. ...more

New York Proposes First Virtual Currency Licensing Framework

On July 17, the New York DFS announced a proposal to establish a licensing regime for virtual currency businesses, the first by any state. In January, the DFS held a two-day hearing on developing a regulatory framework for...more

Digital Commerce & Payments Update

In this Issue: - Insights & Trends ..The Future of Regulation in the Digital Economy - Virtual Currency ..GAO Urges CFPB Participation In Virtual Currency Working Groups ..Trade Group White Paper...more

Could Bitcoin Make Retail Cybersecurity Obsolete?

Interesting question, but life is never easy, and digital currency brings its own set of challenges...more

3 Bitcoin Lessons for Designing a Private and Secure Payment System

Although reasonable people may disagree about whether Bitcoin is that ideal payment system, Bitcoin is worth studying for its privacy and security lessons and its potential to emerge as an important additional payment system....more

Bitcoins: Online Currency’s Uncharted Frontier

Bitcoin – it sounds like a token you might use to play skeeball at a beachside arcade. It is actually a relatively new, virtual online “currency” being used for payments across the Internet. While some observers have noted...more

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