News & Analysis as of September 19, 2024

Virtual Currency › Proposed Amendments

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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 -

New York Proposed Guidance on Virtual Currencies

Sullivan & Worcester on 12/13/2019

On December 11, 2019, the New York State Department of Financial Services ("DFS") issued two proposed changes to the regime that is in place in New York for the regulation and licensing of virtual currency ("VC") businesses....more

Revamping Canada’s Anti-Money Laundering Rules: What’s New, What’s Changed and What It Means for Business

Blake, Cassels & Graydon LLP on 7/3/2019

Since the proposed amendments to the regulations (Regulations) to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) were released in June 2018, regulated entities (REs) have been anxiously...more

France Set to Enact the First Regulatory Framework for Crypto-asset Intermediaries

Kramer Levin Naftalis & Frankel LLP on 10/2/2018

After allowing registration and transfer of unlisted securities through distributed ledgers in 2017 and drafting legislation for initial coin offerings (ICOs) earlier this year, France is contemplating the introduction of a...more

CFTC and NFA Announce Changes in Regulation Regarding Position Limits and Virtual Currency

K&L Gates LLP on 8/21/2018

Introduction - The Commodity Futures Trading Commission (“CFTC”), the U.S. federal regulatory agency for futures and other derivatives, and the National Futures Association (“NFA”), the industry-wide self-regulatory...more

Florida Lawmakers Seek to Bring Virtual Currency into the Fold

Ballard Spahr LLP on 4/26/2017

On Monday, the state of Florida moved a step closer towards amending its money laundering statute to include the nefarious use of bitcoin and other virtual currencies. The bill, H.B. 1379, has sailed through a committee vote...more

Financial Services Weekly News - January 2017 #3

Goodwin on 1/26/2017

Editor's Note - Opposition Emerges to OCC FinTech Charter. In advance of the deadline to submit comments to the Office of the Comptroller of the Currency’s (OCC) paper proposing a federal FinTech charter, the Conference...more

EU Proposal to Address Virtual Currency Exchanges & Wallet Providers in Anti-Money Laundering Laws

Goodwin on 7/18/2016

The European Commission recently published a proposal to amend the Fourth Anti-Money Laundering Directive, the legislation that specifies the anti-money laundering, or AML, and counter terrorist financing rules for EU Member...more

NYDFS Changes to Proposed BitLicense Regulations

Perkins Coie on 2/10/2015

The New York State Department of Financial Services (“NYDFS”) released its revised proposed BitLicense regulations on February 4, 2015. Changes from NYDFS’ initial proposed regulations are listed below. Among the more...more

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Virtual Currency › Proposed Amendments

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