Virtual Currency U.S. Treasury

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

Bitcoin Investment Vehicles Beware – The SEC is Watching

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

Senate Banking Committee Leaders Seek Regulators’ Views On Virtual Currencies

On May 19, the Senate Banking Committee’s chairman and ranking member, Senators Tim Johnson (D-SD) and Mike Crapo (R-ID), sent a letter to the leaders of the Treasury Department, the SEC, the CFTC, the OCC, the FDIC, and the...more

FinCEN Issues Additional Clarifications Regarding Bitcoin and other Convertible Virtual Currency Activities

On January 30, 2014, the Financial Crimes Enforcement Network (“FinCEN”) issued two administrative rulings that address the application of Bank Secrecy Act (“BSA”) regulations to convertible virtual currency-related...more

Virtual Currency Year-In-Review: Bitcoin and Beyond

Bitcoin and other decentralized, math-based virtual currencies emerged in 2013 as nascent challenges to traditional payment systems, drawing widespread public attention, venture capital investment, and regulatory scrutiny....more

State, Federal Authorities Increase Scrutiny Of Virtual Currencies, Emerging Payment Providers

On August 12, New York Department of Financial Services (NY DFS) Superintendent Benjamin Lawsky issued a notice of inquiry about the “appropriate regulatory guidelines that [the NY DFS] should put in place for virtual...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - August 16, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - PAYMENTS - INSURANCE - E-COMMERCE - Excerpt from...more

Money Laundering through Virtual Currency Provider Shut Down

The U.S. Department of the Treasury has targeted Liberty Reserve S.A. as a financial institution of primary money laundering concern under Section 311 of the USA PATRIOT Act (Section 311). According to Financial Crimes...more

Treasury Department: Bitcoin Dealers Are Regulated Under Money-Laundering Laws

Timothy Lee at Forbes magazine has reported today that the Financial Crimes Enforcement Network (FinCEN), a branch of the Treasury Department, has issued new guidelines on the legal status of Bitcoin under U.S. money...more

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