News & Analysis as of

Peer-to-Peer Bitcoin

Proskauer - Blockchain and the Law

Part I: NFT Lending — Legal Issues Involving Secured Transactions under the UCC, Pre- and Post-Article 9 and 12 Amendments

Despite the protracted crypto bear market, innovators in non-fungible tokens (“NFTs”) are hard at work. Gone are the days when NFTs were merely profile pictures (“PFPs”) displayed on a pseudonymous social media account or...more

AEON Law

Patent Poetry: Patent Wars Come to Crypto

AEON Law on

One of the first patent disputes involving cryptocurrencies is being litigated in federal court in Texas. Cryptocurrency firm Veritaseum Capital sued Circle Internet Financial Ltd for alleged infringement of its...more

Woods Rogers

Cryptocurrency: An Evolving Market Still in its Infancy and Where it Stands Today

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Bitcoin was first introduced in a 2009 white paper, Bitcoin: A Peer-to-Peer Electronic Cash System.  Since then, cryptocurrencies, also known as virtual or digital currencies, have exploded, with thousands of different types...more

King & Spalding

The Anti-Money Laundering Act and Crypto Collide: Non-Fungible Tokens

King & Spalding on

As NFTs gain popularity, buyers and sellers should consider the potential issues related to federal anti-money laundering laws. While non-fungible tokens (“NFTs”) have existed for several years, the market for NFTs grew...more

Polsinelli

Take the Money and Run - Bitcoin Transfers (even within the same state) Provide Basis for Federal Jurisdiction in Money Laundering...

Polsinelli on

Earlier this month, the Ninth Circuit Court of Appeals affirmed the money laundering convictions of Thomas Costanzo, a bitcoin broker. According to Costanzo, the bitcoin transfers at issue, which originated from and were...more

Foodman CPAs & Advisors

If you Exchange Virtual Currency, you are a Money Transmitter and must comply with the Bank Secrecy Act (BSA)

FinCEN defines a Money Service Business (MSB) as any person DOING BUSINESS, whether or not on a regular basis or as an organized business concern, in one or more of the following capacities...more

White & Case LLP

Cryptoassets and Open Source Software: UK proposes gold-plating transposition of the EU Fifth Money Laundering Directive

White & Case LLP on

Currently, cryptoasset exchanges and wallet providers are not generally required (depending on their business model) to identify their customers, monitor transactions or report suspicious activity. On 15 April HM Treasury...more

Foodman CPAs & Advisors

¿Vale la pena el riesgo de la Moneda Virtual?

Hemos leído que la Moneda Virtual (MV) es un "activo especulativo" que, en determinadas circunstancias, puede utilizarse para pagar bienes o servicios o ser retenido para inversiones; y que su intercambio o uso de intercambio...more

Foodman CPAs & Advisors

Is Virtual Currency worth the Risk?

We have read that Virtual Currency (VC) is a “speculative asset” that under certain circumstances may be used to pay for goods or services or be held for investment; and that its sale, exchange or use has tax consequences...more

Fisher Phillips

The 4 Types of Blockchain Networks Explained

Fisher Phillips on

One of the questions I commonly get asked is what is the difference between public and private blockchains. It is easy to see why people get confused as public and private blockchains have many similarities....more

Blake, Cassels & Graydon LLP

Litigation Notes on Bitcoin and Other Cryptocurrencies

Cryptocurrency is evolving and with that, a plethora of legal issues are likely to arise. That will undoubtedly create the requirement for courts to apply not only new remedies to address claimed wrongdoings related to...more

Hogan Lovells

Europe: Blockchain – The virtual currency Bitcoin

Hogan Lovells on

Whoever thinks of blockchain also has inevitably bitcoins in mind. The Internet currency is largely based on the blockchain technology and it is therefore one of the most obvious fields of application for this technology, to...more

Bradley Arant Boult Cummings LLP

Blockchain: The Policyholder Plan for Smart Insurance Policies

Insurers’ exploration of distributed ledger technology (DLT), commonly referred to as blockchain, continues to expand. Last month, AIG announced a partnership with IBM and Standard Chartered Bank P.L.C. to test a “smart...more

Latham & Watkins LLP

Blockchain – A New Era for the Energy Market?

Latham & Watkins LLP on

Blockchain is more widely recognised as the underlying software technology used for the cryptocurrency Bitcoin. This technology is also being increasingly applied to alternative opportunities, including in the energy sector. ...more

Troutman Pepper

U.S. - India Newsletter Vol. 2016, Issue 2

Troutman Pepper on

Welcome to the second issue of our newsletter, which features news and articles of interest from Pepper’s U.S.-India Practice. In the first quarter of 2016, we saw a lot of activity in the international data privacy...more

Goodwin

Payment Across Apps—and Borders

Goodwin on

Digital currencies like Bitcoin seem tailor made for social peer-to-peer payment applications. Transactions denominated in or convertible to digital currency could be withdrawn and transmitted by users at virtually no...more

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