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Virtual Currency › Cryptocurrency › Jurisdiction

Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender... more +
Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency.    less -
Carey Olsen

Blockchain 2024: BVI (Legal 500)

Carey Olsen on

Carey Olsen has contributed to The Legal 500 Country Comparative Guide 2024 for Blockchain. The aim of this guide is to provide its readers with a pragmatic overview of the law and practice of blockchain law across a variety...more

Polsinelli

House of Pay’n – House Passes Bill to Help Create Legal Framework for Digital Asset Regulation

Polsinelli on

On Tuesday, April 20, 2021, the House of Representatives passed the Eliminate Barriers to Innovation Act of 2021 (the “Act”). The Act was initially introduced in March with an overarching aim to clarify the roles of the...more

Orrick - On the Chain

Cryptocurrency and OFAC: Beware of the Sanctions Risks

Orrick - On the Chain on

A recent federal criminal action shows the depth of the U.S. government’s concern about the use of cryptocurrency (or virtual currency) to violate economic sanctions laws and the lengths to which it will go to charge such...more

Hogan Lovells

Cryo-currency? Hong Kong Court grants freezing injunction over bitcoins

Hogan Lovells on

A Hong Kong court has granted an injunction freezing the assets of a French cryptocurrency trader in a dispute over what happened to bitcoins held in an insolvent trading platform. In Nico Constantijn Antonius Samara v Stive...more

Sheppard Mullin Richter & Hampton LLP

CFTC Cryptocurrency Enforcement Receives Further Judicial Support

Sheppard Mullin Richter & Hampton LLP on

The Commodity Futures Trading Commission (“CFTC”) obtained an important court win and boost to its regulatory authority over Cryptocurrencies this month. A federal district court in Massachusetts recently issued a decision in...more

Akin Gump Strauss Hauer & Feld LLP

Developments in Cryptocurrency in 2018

Akin Gump Strauss Hauer & Feld LLP on

• 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 7: The CFTC’s Proposed Cryptocurrency Interpretation.

Burr & Forman on

After Bitfinex, the CFTC issued its Proposed Interpretation on “Retail Commodity Transactions Involving Virtual Currency.” Proposed Interpretation, 82 Fed. Reg. 60335 (CFTC Dec. 20, 2017). Although the comment period closed...more

Burr & Forman

Some Legal Issues Surrounding Blockchain and Cryptocurrency Part 6: The CFTC’s Bitfinex Order.

Burr & Forman on

In a series of 2015 decisions, the CFTC determined that virtual currency is a commodity subject to its jurisdiction. In a 2016 settled enforcement action, the CFTC took the position that an unregistered platform...more

Burr & Forman

Some Legal Issues Surrounding Blockchain and Cryptocurrency Part 5: Commodities Forwards: Dodd-Frank & Hunter Wise.

Burr & Forman on

The 2011 Dodd-Frank Act amended the CFTC’s jurisdiction to authorize regulation of “retail commodity transactions offered ‘on a leveraged or margined basis, or financed by the offeror, the counterparty, or a person acting in...more

Sheppard Mullin Richter & Hampton LLP

Court Rules Cryptocurrencies Can Be Regulated By The CFTC As Commodities

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The regulatory landscape surrounding cryptocurrency continues to evolve. Most of the activity to date has involved regulatory enforcement actions brought by the Securities and Exchange Commission (“SEC”) and Commodity Futures...more

Robinson+Cole Data Privacy + Security Insider

Developing Crypto’s Regulatory Landscape: A Survey of Recent Actions by Federal Regulators to Fence Off Jurisdiction Over Virtual...

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In the decades that followed the enactment of the Homestead Act of 1862, more than 1.6 million U.S. citizens and intended citizens filed applications with the U.S. government to lay claim to 160 acres of land guaranteed to...more

Proskauer - Blockchain and the Law

Federal Court Grants Preliminary Injunction, Affirms CFTC Jurisdiction over Virtual Currencies

Proskauer - Blockchain and the Law on

Earlier this month, Judge Jack B. Weinstein of the U.S. District Court for the Eastern District of New York entered a preliminary injunction order against Patrick McDonnell and his company, CabbageTech, Corp. (together, the...more

Perkins Coie

Blockchain Week in Review - February 2018

Perkins Coie on

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

Akin Gump Strauss Hauer & Feld LLP

Federal Judge Adopts CFTC Position That Cryptocurrencies Are Commodities

Akin Gump Strauss Hauer & Feld LLP on

• A New York federal judge held that virtual currencies are commodities within the meaning of the Commodity Exchange Act. • This marks the first court decision to assess and to adopt the CFTC’s position that virtual...more

Ballard Spahr LLP

Federal court rules virtual currency is commodity regulated by CFTC

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A decision this week from a New York federal district court ruling that the U.S. Commodity Futures Trading Commission (CFTC) had jurisdiction to regulate a cryptocurrency business represents the first opinion from a federal...more

Ballard Spahr LLP

Virtual Currency Is a Commodity Regulated by the CFTC, Eastern District of New York Rules

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A federal court this week found that the U.S. Commodity Futures Trading Commission (CFTC) had jurisdiction to regulate a cryptocurrency business, raising the possibility of jurisdictional tension among the CFTC and other...more

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