Within the past two months, three states have adopted the Money Transmission Modernization Act (MTMA). The governors of Virginia, Mississippi, and most recently Colorado, signed bills that implement the MTMA, and two other...more
5/13/2025
/ Cryptocurrency ,
Digital Assets ,
Financial Services Industry ,
FinTech ,
Money Transmitter ,
New Legislation ,
Payment Systems ,
Regulatory Reform ,
Regulatory Requirements ,
State Legislatures ,
Virtual Currency
To date, crypto companies have been able to operate in California without a license, but that will change effective July 2025 under the state’s newly-enacted “Digital Financial Assets Law” (the Law), signed by Governor Newsom...more
Since finalizing the “BitLicense” regulatory regime in June 2015, the New York Department of Financial Services (NYDFS) has granted only 25 licenses. This underscores how the BitLicense regulatory framework has been a barrier...more
On December 11, 2019, the New York Department of Financial Services (“NYDFS”) published “Proposed Guidance Regarding Adoption or Listing of Virtual Currencies” (“Proposal”). ...more
The growing popularity of virtual currency over the last several years has raised a host of legislative and regulatory issues. A key question is whether and how a state’s money transmitter law applies to activities involving...more
March was a busy month in the blockchain and cryptocurrency space for the Wyoming state government. The legislature passed, and the governor signed, five bills that many in the industry view as favorable to blockchain and...more
The Uniform Law Commission (“ULC”) is an organization focused on developing and preparing “non-partisan, well-conceived, and well-drafted” state legislation in areas of state law where there is a perceived need for...more