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Virtual Currency › Enforcement › Bitcoin

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 -
Foley & Lardner LLP

Cryptocurrency for Supply Chain Payments

Foley & Lardner LLP on

Today’s supply chains are frequently paper-based operations subject to human error and delay. Therefore, some companies are beginning to invest in digital infrastructure, including blockchain tools, to strengthen supply...more

Perkins Coie

Virtual Currency Legal Report: Week of January 7, 2022

Perkins Coie on

U.S. Congress to Hold Oversight Hearing on the Mining of Cryptocurrency - NY DFS to Hire New Deputy Superintendent - Recent Federal Regulator Announcements Signal Changes in Senior Leadership at the SEC, CFTC, and FDIC...more

Ward and Smith, P.A.

Should You Bank a Virtual Currency Business?

Ward and Smith, P.A. on

Virtual currencies like Bitcoin and Ethereum have spawned many types of businesses that need banking services. Many banks "de-risk" -- do not provide banking services -- to these businesses. Many virtual currency...more

Wilson Sonsini Goodrich & Rosati

Anti-Money Laundering Obligations for Virtual Currency Companies

Wilson Sonsini Goodrich & Rosati on

Virtual currency businesses are under scrutiny by U.S. anti-money laundering (AML) regulators. Earlier this year, U.S Treasury Secretary Steven Mnuchin emphasized that virtual currencies are subject to AML regulations. He...more

Perkins Coie

Guilt by Association: Bitcoin and the WannaCry Ransomware Attack

Perkins Coie on

The recent so-called “WannaCry” ransomware cyber-extortion attack has thrust bitcoin as a means of payment back into the debate surrounding illegal online activity. Much in the way that the internet, in its early days, was...more

Womble Bond Dickinson

DOJ Criminal Chief Warns Financial Institutions about Bitcoin

Womble Bond Dickinson on

On June 26, 2015 at the ABA National Institute on Bitcoin and Other Digital Currencies, Assistant Attorney General Leslie Caldwell sent a targeted warning to financial institutions that deal with Bitcoin and other virtual...more

Manatt, Phelps & Phillips, LLP

Merchants and Processors Beware: FTC Consumer Warning About Use of Bitcoin and Other Cryptocurrencies Is a Warning to You Too

Manatt, Phelps & Phillips, LLP on

The June 22 FTC blog posting warning consumers about the use of bitcoins and other virtual currencies should be a call to action for those accepting or facilitating the acceptance of bitcoin and other virtual currencies in...more

BakerHostetler

Bitcoin Investment Vehicles Beware – The SEC is Watching

BakerHostetler on

The Securities and Exchange Commission (SEC) recently charged the co-owner of two Bitcoin-related websites for publicly offering shares in the ventures without registering the securities under the Securities Act of 1933 (the...more

Katten Muchin Rosenman LLP

Corporate and Financial Weekly Digest - Volume IX, Issue 24

Katten Muchin Rosenman LLP on

In this issue: - Commissioner Kara M. Stein Calls for More Stringent Net Capital Requirements for Broker Dealers - US Marshals Service Announces Auction of Silk Road Bitcoins - Investment Adviser Accused...more

The Volkov Law Group

AML Enforcement And Virtual Currencies

The Volkov Law Group on

It is difficult for regulators and law enforcement to keep up with creative new ways in which criminals choose to store and trade money. This is especially true in the Internet-age where anonymity and ease of communications...more

Pillsbury - Internet & Social Media Law Blog

FINCEN Virtual Currency Guidance

Pillsbury - Internet & Social Media Law Blog on

As recently reported, FINCEN issued significant guidance on legal isesues with virtual currency. Shortly thereafter, an enforcement action was intitiated against Mt. Gox, one of the largest bitcoin exchanges for operating...more

Perkins Coie

Federal Government Crackdown On Virtual Currency Heats Up

Perkins Coie on

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

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