The Federal Deposit Insurance Corporation (FDIC) issued a Notice of Proposed Rulemaking (the Proposal) on September 17, 2024, that seeks to strengthen recordkeeping for bank deposits held by nonbank companies on behalf of...more
9/23/2024
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Anti-Money Laundering ,
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Compliance ,
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FDIC ,
Financial Institutions ,
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Notice of Proposed Rulemaking (NOPR) ,
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Third-Party
Non-fungible tokens (NFTs) have been widely adopted by the sports, arts, music, gaming, fashion, and other industries. Behind the hype is a fast-developing ecosystem of technical and commercial innovation that is embracing...more
6/15/2022
/ Blockchain ,
Commodities ,
Cryptocurrency ,
Digital Assets ,
Digital Media ,
Emerging Markets ,
Innovative Technology ,
Non-Fungible Tokens (NFTs) ,
Online Marketplace ,
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Securities and Exchange Commission (SEC)
On July 25, 2017, the Securities and Exchange Commission (“SEC”) released groundbreaking materials relating to blockchain tokens. These materials provide significant and welcome insight to the SEC’s and its staff’s thinking...more
7/27/2017
/ Alternative Trading System (ATS) ,
Blockchain ,
Digital Currency ,
Financial Institutions ,
Financial Markets ,
Initial Coin Offering (ICOs) ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Investor Advisory Committee ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Unregistered Securities ,
Virtual Currency
On March 29, 2017, Perkins Coie partner Dax Hansen and associate Josh Boehm were invited to the Cyber Initiative at Stanford Law School to deliver a presentation on several cutting-edge legal issues relating to blockchain...more
4/15/2017
/ Bank Secrecy Act ,
Bankruptcy Code ,
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Custody Rule ,
FinCEN ,
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Securities ,
Securities and Exchange Commission (SEC)
In this white paper, we analyze the treatment of bitcoin under applicable U.S. property law. We conclude that property interests should exist in bitcoin under such law, and that multiple sources of persuasive authority...more
3/30/2017
/ Bankruptcy Code ,
Bitcoin ,
BitLicense ,
CFTC ,
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FDIC ,
FinCEN ,
Intangible Property ,
IRS ,
Popular ,
Property Ownership ,
UFADAA ,
Uniform Commercial Code (UCC) ,
Virtual Currency
Argentina -
Virtual currencies are not legal tender under the country’s National Constitution, which designates the Central Bank as the only authority that may issue legal tender. Although not specifically regulated,...more
1/27/2017
/ Banks ,
Bitcoin ,
Blockchain ,
Cryptocurrency ,
Digital Currency ,
EU ,
European Banking Authority (EBA) ,
FATF ,
Financial Institutions ,
Financial Services Industry ,
Popular ,
Reporting Requirements ,
Technology ,
Virtual Currency
This chart is provided by Perkins Coie LLP’s Decentralized Virtual Currency industry practice group for informational purposes only and is not legal advice. This information is not intended to create, and receipt of it does...more
10/5/2015
/ AML/CFT ,
Anti-Money Laundering ,
Attorney-Client Privilege ,
Banking Sector ,
Banks ,
Bitcoin ,
Corporate Counsel ,
Cryptocurrency ,
CSSF ,
EU ,
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Financial Institutions ,
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GST ,
HMRC ,
Money Laundering ,
PBOC ,
Popular ,
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Terrorist Financing Regulations ,
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Virtual Currency ,
Young Lawyers
Argentina -
In addition to issuing warnings about their use, Argentina has suggested an increased interest in virtual currency transactions by requiring financial institutions and other entities to report virtual...more