News & Analysis as of

Disclosure Requirements Virtual Currency

Shipkevich PLLC

Vermont and Pennsylvania Embrace Virtual Currency Regulation

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In a continuing trend across U.S. states, Vermont and Pennsylvania have shown their intent to establish more oversight over the digital currency sector. New legislative amendments to Vermont’s financial services laws include...more

Cooley LLP

California Enacts Two New Virtual Currency Laws

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On October 13, 2023, California Gov. Gavin Newsom signed two bills into law that will impose sweeping obligations on companies engaged in virtual currency activities in California and with California residents. Newsom vetoed...more

K&L Gates LLP

California Enacts Landmark Crypto Licensing Law

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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

Shipkevich PLLC

New Jersey Legislation to Regulate Virtual Currencies Likely to Become Law

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Overview - New Jersey is positioned to adopt seminal legislation that is sure to alter the regulatory dynamic for cryptocurrency-focused businesses that operate within the state. The Digital Asset and Blockchain...more

Dechert LLP

NYDFS Issues Guidance on Virtual Currency Custody Practices

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Citing a substantial increase in recent years in the demand for both virtual currencies and virtual currency custody services, the New York Department of Financial Services (NYDFS) on January 23, 2023 released its Guidance on...more

Latham & Watkins LLP

New York Department of Financial Services Issues Crypto Custody Guidance

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The Guidance clarifies the regulator’s expectations on safekeeping customer digital assets, and the disclosures that must accompany such arrangements. On January 23, 2023, the New York Department of Financial Services...more

Ballard Spahr LLP

How the New York Department of Financial Services (DFS) Regulates Virtual Currency, a Close Look with Special Guest Kaitlin Asrow,...

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After reviewing the licensing/chartering/approval structures that DFS uses for entities seeking to engage in virtual currency activities, we discuss the role of guidance in DFS’s regulation and oversight of virtual currency,...more

Shipkevich PLLC

New York Issues New Guidance on Crypto Currency Custodial Structures

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On January 23, 2023, New York Department of Financial Services (DFS) released regulatory guidance to better protect customers in the event of virtual currency insolvency. The guidance is not binding, but rather persuasive...more

Oberheiden P.C.

Tokenization Lawyer – 5 Reasons Why You Might Need One

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What is Tokenization? Tokenization is the process of converting an asset into a token on the blockchain. It operates by dividing—or fractionalizing—the ownership of an asset (whether the asset is a piece of real estate or...more

Perkins Coie

The Anti-Money Laundering Act of 2020: A Survey of Key Provisions and Practice Takeaways

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On New Year’s Day 2021, Congress overrode a presidential veto to pass the Anti-Money Laundering Act of 2020 (AMLA 2020), which amends and modernizes the Bank Secrecy Act (BSA). The AMLA 2020 includes sweeping reforms updating...more

Pillsbury Winthrop Shaw Pittman LLP

Financial Services: What’s Next Under the Biden Administration?

Pillsbury partner and Public Policy group leader Elizabeth Vella Moeller recently sat down with Matthew McGuire, former Executive Director of the World Bank under President Obama, to discuss the Biden administration’s...more

Latham & Watkins LLP

CFTC Adds Another Building Block to its Digital Asset Framework

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The CFTC issues stringent guidelines for FCMs seeking to custody digital assets in connection with physically delivered futures contracts or swaps. The US Commodity Futures Trading Commission’s (CFTC’s) Division of Swap...more

Oberheiden P.C.

Defending Against Securities Fraud Litigation Triggered by an SEC Investigation

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For public and private companies in all industries, the risk of being targeted in a U.S. Securities and Exchange Commission (SEC) investigation is a very real concern. As new and innovative securities offerings continue to be...more

Goodwin

Financial Services Weekly: Amendments To SEC Proxy Solicitation Rules Approved By A 3-1 Vote

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In This Issue. The Securities and Exchange Commission (SEC) finalized amendments to its proxy solicitation rules that will modify the practices of proxy advisory firms, providing them with greater transparency and...more

Polsinelli

Under Siege - Zen Master Steven Seagal Loses to the SEC

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The SEC has settled charges against action star Steven Seagal for failing to disclose payments he received for promoting an investment in an initial coin offering (ICO) conducted by Bitcoiin2Gen (B2G)....more

Orrick - On the Chain

Power of the Peirce: SEC Commissioner Spends Some of Her Influence on Trying to Help Crypto Network Developers

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SEC Commissioner Hester Peirce continues to be one of the most vocal persons in leadership positions at federal regulators who are promoting innovation in digital currency and the blockchain....more

Perkins Coie

Blockchain Week in Review - April 2019 #2

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U.S. Developments - Blockstack Files With SEC for Regulation A+ Token Sale - Blockstack, the New York-based blockchain software provider, has announced that it intends to make a $50 million token offering that would use...more

Bass, Berry & Sims PLC

Celebrities Beware: Your Newest #1 Fan May Be the SEC

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The personal problems of celebrities are often widely publicized. An overlooked beneficiary of such publicity can be the Securities and Exchange Commission (SEC). News of an SEC enforcement action involving a celebrity...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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As promised, the Fed on Wednesday announced “one of the most significant rollbacks of bank rules” since the White House changed hands in the form of a draft proposal that would loosen capital and liquidity requirements for...more

Latham & Watkins LLP

Effective October 31, 2018: New NFA Virtual Currency Disclosure Requirements

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The NFA will soon require CPO, CTA, FCM, and IB member firms to provide various disclosures warning investors of virtual currency spot and derivatives trading risks. New disclosure requirements warning customers,...more

Dechert LLP

New York Attorney General Releases Virtual Markets Integrity Report

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The New York Attorney General released a report on September 18, 2018 on the results of the Virtual Markets Integrity Initiative, which was launched earlier in the year by the New York State Office of the Attorney General...more

Akin Gump Strauss Hauer & Feld LLP

Developments in Cryptocurrency in 2018

• The U.S. Securities and Exchange Commission (SEC) staff made official statements regarding when a token may or may no longer be a security • The SEC continued to bring actions related to cryptocurrency offerings against...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

Kramer Levin Naftalis & Frankel LLP

New Disclosure Rules Enhance Crypto Investor Protection

Amid concerns that many investors may not fully understand the risks associated with virtual currencies, or the limits of regulatory oversight, the National Futures Association (NFA) recently issued an interpretive notice...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

U.S. Financial Industry Developments - SEC Disapproves the Listing and Trading of Nine Bitcoin Related Exchange Traded Products - On August 22, 2018, the SEC released three Orders, acting through authority delegated to...more

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