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BakerHostetler

Weekly Blockchain Blog - November 2024 #3

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Crypto Exchanges and Stablecoin Issuers Announce Multiple New Products - Multiple crypto sector companies have recently announced new products. In a press release, LayerZero, “an omnichain interoperability protocol that...more

Jones Day

Pre-Enforcement Challenges—A Vital Tool for Regulated Parties in the United States

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The digital asset industry has now met the regulatory state. Those interested in building digital asset businesses that operate in the United States thus need to be aware of a vital tool for resisting regulatory overreach by...more

Jones Day

U.S. Federal Banking Regulators Announce Plan for Crypto-Asset Policy Initiative

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The interagency "policy sprints" are designed to give banks guidance on how to navigate crypto-assets moving forward. On November 23, 2021, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance...more

Foodman CPAs & Advisors

OFAC Puts Virtual Currency Industry on Notice

In a new Sanctions Compliance Guide, The Office of Foreign Assets Control (OFAC) of the U.S. Treasury reiterates that compliance obligations apply equally to transactions involving virtual currencies and those involving...more

Carlton Fields

State Regulations on Virtual Currency and Blockchain Technologies (Updated July 2020)

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There exists no uniformity with respect to how businesses that deal in virtual currencies (also known as "cryptocurrencies") such as Bitcoin are treated among the states. For these proprietors, often the first question asked...more

Orrick - On the Chain

New York Looks Like it Might Loosen Up on Its Virtual Currency Regulation

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On June 25, the New York State Department of Financial Services (NYDFS) published a “Conditional BitLicense” proposal for reforming its licensing framework that would make it easier for virtual currency businesses to obtain...more

Orrick - On the Chain

SEC Division of Enforcement 2019 Annual Report Shows Cryptocurrency Is Still Under the Microscope

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The SEC Division of Enforcement’s 2019 Annual Report, released earlier this month, shows a continuing focus on activities involving blockchain and cryptocurrency, and its website shows an increase in cases since last fiscal...more

Polsinelli

BitBlog Weekly Summary: Digital Asset Regulations in New York State

Polsinelli on

This week saw two items of note in the regulation of digital assets and both came out of the state of New York. The Return of the Empire State - A New York State Supreme Court ruled that it has personal and subject...more

Carlton Fields

Cryptocurrency Regulatory Complexities Multiply

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Firms seeking to integrate digital assets into their business — including the sale of insurance or securities products and services — must grapple with the potential applicability of money transmission regulation that varies...more

The Volkov Law Group

2019 Cryptocurrency Regulations – A Primer and What to Expect Throughout the Year

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You’ve heard this before, but it still holds true – cryptocurrency regulations are coming. Everyone knows they’re inevitable, and there has been some trepidation amongst investors that regulations will disrupt innovation and...more

Orrick, Herrington & Sutcliffe LLP

Smart Contracts That Violate the Commodity Exchange Act: What Parties Are Liable?

In recent years, the U.S. Commodity Futures Trading Commission (CFTC) has devoted significant resources to addressing how the requirements of the Commodity Exchange Act (CEA) and the regulations thereunder apply to...more

Kramer Levin Naftalis & Frankel LLP

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

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

Burr & Forman

Some Legal Issues Surrounding Blockchain and Cryptocurrency Part 2: Regulation of ICOs.

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This is Part 2 of a seven-part series of posts looking at some broad legal issues affecting crypto-currencies. State and federal regulators, especially the SEC, have moved aggressively to halt unregistered initial coin...more

Ballard Spahr LLP

FinCEN Director Addresses Virtual Currency and Touts Regulatory Leadership and Value of SAR Filings

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Address Emphasizes Role of SARs in Fighting Illegal Activity, Including Drug Dealing Fueling the Opioid Crisis - Kenneth Blanco, the Director of the Financial Crimes Enforcement Network (“FinCEN”), discussed last week...more

Farrell Fritz, P.C.

Can a Digital Token Evolve? Head of Corp Fin Says “Yes”, if Network Becomes Decentralized

Farrell Fritz, P.C. on

“Can a digital asset that was originally offered in a securities offering ever be later sold in a manner that does not constitute an offering of a security?” ...more

The Volkov Law Group

The NYAG’s Virtual Markets Integrity Initiative and Transparency of Cryptocurrency Exchanges

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Recently, New York Attorney General Eric T. Schneiderman launched the state’s Virtual Markets Integrity Initiative in order to garner more information and gain insight into the inner workings of cryptocurrency exchanges. ...more

Ballard Spahr LLP

Australia’s Financial Intelligence Agency Implements AML Regulation of Digital Currencies

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Australia announced on April 11 that all digital currency exchanges operating in the country will be regulated by the Transaction Reports and Analysis Centre (“AUSTRAC”), the country’s financial intelligence agency. ...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Mr. Dow’s wild ride ended on an upswing yesterday, with the DJIA adding back nearly 600 points and the three primary US indices up between 1.7 and 2.3%....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The Times explores the $27 billion in fixed-income-trading income that has seeped out of Wall Street over the past 5 years thanks to “a combination of tough regulations, new technologies, calm markets and changing customer...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Breakingviews is raising an eyebrow at the news from yesterday about Broadcom’s unsolicited $105 billion offer for Qualcomm [the largest-ever proposed tech deal], especially in light of the “mountain of debt” Broadcom would...more

Ballard Spahr LLP

As Digital Currency Spreads, So Does its Global Regulation: India and Australia Enter the Fray

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As digital currency becomes more ubiquitous, state and federal regulators across the United States, as well as regulators in many other countries, are examining how existing regulatory structures need to be adapted to account...more

Ballard Spahr LLP

Failure to Register with FINCEN Sustains Guilty Pleas by Virtual Currency Exchangers

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It is a potential crime to conduct a business that exchanges virtual currency and fail to register with the Financial Crimes Enforcement Network (“FinCEN“), even if the State in which one operates does not impose a similar...more

Carlton Fields

State Regulation of Virtual Currency: A Recap

Carlton Fields on

This may be the year of the virtual currency. Virtual currencies have garnered much media, investor, and government attention. But, as venture capital funding continues to pour into the industry—more than $1 billion is...more

Davis Wright Tremaine LLP

Plus ça change…NYDFS releases final BitLicense regulations

The New York State Department of Financial Services (NYDFS) released final BitLicense regulations on June 3, 2015, almost eleven months after the initial BitLicense proposal was issued. The initial proposal went through two...more

Cooley LLP

Alert: The Regulation of Virtual, Digital and Crypto-currencies

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There are more than 6004 virtual currencies in use around the world today. Bitcoin is one of the best known and most widely used in Europe and North America. ...more

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