News & Analysis as of September 25, 2024

Virtual Currency › Data Protection

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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 -

NYDFS, crypto payment service provider resolve AML/cybersecurity violations

Orrick, Herrington & Sutcliffe LLP on 4/13/2023

On March 16, NYDFS issued a consent order against a payment service provider for allegedly failing to comply with the state’s virtual currency and cybersecurity regulations. The company was licensed to engage in virtual...more

FATF 2022 Strategic Initiatives

Foodman CPAs & Advisors on 8/1/2022

The Financial Action Task Force (FATF) is an independent inter-governmental entity that develops policies for protection of our global financial system from money laundering, terrorist financing and financing of weapons of...more

FYI on NFTs: Consumer Protection and Privacy Considerations

Wilson Sonsini Goodrich & Rosati on 3/9/2022

Thinking of creating a non-fungible token (NFT) marketplace? You're not alone. Global NFT transactions have risen from $40.96 million in 2018 to around $25 billion in 2021. Organizations from the NBA to Taco Bell have begun...more

Life, Libra And The Pursuit Of Data Protection

Fox Rothschild LLP on 8/7/2019

The UK Information Commissioner’s Office (ICO) has joined data protection authorities from around the world in calling for more openness about the proposed Libra digital currency and infrastructure....more

Data Privacy + Cybersecurity Insider - October 2018

Robinson & Cole LLP on 10/8/2018

On October 1, 2018, the Food and Drug Administration (FDA) issued its “Medical Device Cybersecurity Regional Incident Preparedness and Response Playbook” to address continued threats to medical devices that could affect...more

Blockchain Developments: NY AG Issues Report, Major Japanese Exchange Hacked, Global Attitudes Diverge and Use Cases for Social...

BakerHostetler on 9/21/2018

New York Attorney General Issues Virtual Markets Integrity Initiative Report - On Sept. 18, 2018, the New York Attorney General’s Office released its Virtual Markets Integrity Initiative Report. The report addressed 10 major...more

Data Privacy + Cybersecurity Insider - February 2018 #4

Robinson & Cole LLP on 2/26/2018

U.S. Estimates that Cyber Hacks Cost Up to $109 Billion in 20 - The Council for Economic Advisors (CEA) issued a report this month, entitled “The Cost of Malicious Cyber Activity to the U.S. Economy,” which concludes that...more

Data Privacy + Cybersecurity Insider - February 2018 #3

Robinson & Cole LLP on 2/16/2018

As of February 15, 2018, banks, insurance companies, and other financial services institutions and licensees regulated by the New York Department of Financial Services (DFS) are required to file their first certification of...more

Europe: Blockchain – The virtual currency Bitcoin

Hogan Lovells on 10/19/2017

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

Data Privacy + Cybersecurity Insider - October 2017 #2

Robinson & Cole LLP on 10/18/2017

FBI Issues Flash Alert on Apache Struts Vulnerability - The Apache Struts vulnerability has been mentioned frequently in the media over the past month, as it is believed to have been involved in one of the largest and most...more

Expect the Unexpected: The Year Ahead for the Financial Institutions Sector

Hogan Lovells on 1/13/2017

With contributors across the sector and the globe, we've compiled a review of some of the developments that will affect financial institutions in 2017 and beyond. The one thing that 2016 taught us was to expect the...more

Bitcoin: Cybersecurity Regulations on the Horizon?

JD Supra Perspectives on 10/17/2016

As legislators grapple with creating legislation intended to bring virtual currencies, such as bitcoin, within the scope of anti-money laundering regulations, the vulnerability of Bitcoin exchanges to theft and other cyber...more

Ransomware gets even more nightmarish with Jigsaw

Robinson+Cole Data Privacy + Security Insider on 4/29/2016

We have been alerting all of our readers to the nightmares of ransomware, and that the healthcare industry is a prime target. Just when you thought it couldn’t get any worse, a new strain of ransomware, known as Jigsaw,...more

Corporate Investigations & White Collar Defense - October 2015

Manatt, Phelps & Phillips, LLP on 10/23/2015

"Wherefore Art Thou Due Process?" Part III - Why it matters: It is time for another installment in our continuing "Wherefore Art Thou Due Process?" coverage into the ongoing constitutional challenges to the SEC's...more

Financial Services Weekly News - September 2015 #3

Goodwin on 9/17/2015

Regulatory Developments: CFTC Grants Temporary Registration as SEF to LedgerX Bitcoin Options Exchange and Clearing House - On Sept. 10 the CFTC announced that it had issued an Order of Temporary Registration as a...more

FBI warns of continued use of Cryptowall ransomware schemes

Robinson+Cole Data Privacy + Security Insider on 7/13/2015

The FBI’s Internet Crime Complaint Center recently issued an alert “Criminals Continue to Defraud and Extort Funds from Victims Using Cryptowall Ransomware Schemes” that indicates that the Center continues to receive...more

Around the Virtual Word: March 25-29, 2013

Pillsbury - Internet & Social Media Law Blog on 4/1/2013

A weekly wrap up of interesting news about virtual worlds, virtual goods and other social media. In This Issue: - RUMOR: Google Is Launching An Augmented Reality Based E-Book Line - Valve Can't Pull Plug...more

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Virtual Currency › Data Protection

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