News & Analysis as of

State and Local Government Digital Currency

Jenner & Block

Client Alert: California Enters the Arena of Virtual Currency Regulation

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After prolonged deliberation, California has finally decided to enter the virtual currency regulatory arena by adopting two virtual currency regulatory bills into law. The California Digital Financial Assets Law (“DFAL”),...more

Carlton Fields

State Regulations on Virtual Currency and Blockchain Technologies (Updated March 2021)

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Introduction: 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...more

Alston & Bird

Rhode Island Requires Licensure for Virtual Currency Business Activity

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A&B Abstract: Effective January 1, 2020, Rhode Island will regulate virtual currency under its money transmission laws....more

Carlton Fields

State Regulations on Virtual Currency and Blockchain Technologies - (Updated)

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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

Carlton Fields

State Regulations on Virtual Currency and Blockchain Technologies (Updated)

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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....more

Burr & Forman

Legislative Update: Uniform Regulation of Virtual-Currency Business Act

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Last October, the Uniform Law Commission released the Uniform Regulation of Virtual-Currency Business Act (VCBA), which sets forth extensive requirements applicable to persons or entities who engage in virtual currency...more

Robinson+Cole Data Privacy + Security Insider

States Race To Embrace Blockchain Technology

Add Connecticut, Ohio and Vermont to the list of states passing legislation focused on the potential disruptive impact of blockchain – the technology underlying cryptocurrencies such as Bitcoin. ...more

Locke Lord LLP

Illinois Legislature Considering Legislation Recognizing Legality of Smart Contracts

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The Illinois state legislature is considering a bill which would put the state among the select few specifically granting legal recognition to blockchain “smart contracts” by placing smart contracts on an equal footing with...more

A&O Shearman

Blockchain Technology Developments in Delaware

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While cryptocurrencies have captured the attention of many, the blockchain technology underlying these instruments has potentially far-reaching implications in many other fields. Consistent with its reputation as a...more

Proskauer - Blockchain and the Law

A Proposed Statutory Framework for State Regulation of Virtual Currency Businesses: The Uniform Law Commission’s “Uniform...

Last July, the Uniform Law Commission completed a uniform model state law, known as the Uniform Regulation of Virtual-Currency Businesses Act (“URVCBA” or the “Act”) (Steve Weise participated in the preparation of the Act)....more

Robinson+Cole Data Privacy + Security Insider

Wyoming Enacts Comprehensive Blockchain Legislation

As numerous states propose and enact legislation focused on blockchain technology and cryptocurrencies, in 2018, no state has been more aggressive in this space than Wyoming. ...more

Proskauer - Blockchain and the Law

Four Blockchain Technology Bills Proposed by New York Assemblyman

New York Assemblyman Clyde Vanel has introduced proposals in the state legislature for four laws which, if passed, could transform how the State of New York interacts with and views blockchain technology. The first...more

Robinson+Cole Data Privacy + Security Insider

Nationwide, State Legislators Push Blockchain-friendly Legislation

As previously reported, state legislatures throughout the country continue to propose legislation designed to facilitate the use of blockchain-based technology by businesses within their states....more

Proskauer - Blockchain and the Law

State-Level Legislation Anticipates Wide-Spread Business Use of Blockchain

On a daily basis, companies are announcing new developments on the adoption of blockchain in core business operations. However, many of these use cases present unique legal issues. In order to provide some clarity on some of...more

Ballard Spahr LLP

Uniform Act to Regulate Virtual Currency Businesses Ready for State Adoption

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A new proposed law to create a statutory framework for regulating persons engaging in virtual-currency business activity, the Uniform Regulation of Virtual-Currency Businesses Act (URVCBA), has been approved by the Uniform...more

Carlton Fields

State Regulations On Virtual Currency And Blockchain Technologies

Carlton Fields on

As of this inaugural publication, 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...more

Perkins Coie

Delaware Law Embraces Digital Securities

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On May 2, 2016, during a keynote address at Consensus 2016, Jack Markell – Governor of Delaware from 2009 to 2017 – announced a comprehensive program to provide an enabling regulatory and legal environment for the development...more

Goodwin

State Regulation of Distributed Ledger Technology

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While the federal government has taken a variety of different positions in regulating distributed ledger technology, there are several important trends that are emerging in states’ regulation of such technology...more

Perkins Coie

Governor Signs Into Law Amendments to Washington’s Uniform Money Services Act

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On April 18 the governor of Washington signed into law amendments proposed by the Washington Department of Financial Institutions (“DFI”) in December of last year, to the state’s Uniform Money Services Act, including...more

Perkins Coie

Blockchain Week in Review - April 2017 #1

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Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Bradley Arant Boult Cummings LLP

Federal and State Authorities Take First Steps Toward Regulating Blockchain, Mobile Banking and Digital Financial Services

Last week, federal and state lawmakers took significant steps toward specific regulations targeting digital financial technology, mobile banking and cybersecurity, signaling the possibility of wholesale changes to the legal...more

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