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Virtual Currency › Distributed Ledger Technology (DLT) › Anti-Money Laundering

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 - Bermuda (Legal 500)

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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

Nelson Mullins Riley & Scarborough LLP

Crypto Love is a Battlefield

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The battle over blockchain technology and digital assets bears a striking resemblance to the debate over the potential of the internet in the mid-1990s. Where critics see a passing fad with little actual utility or a lawless...more

BakerHostetler

Blockchain Supply Chain Pilots Expand, Securities Settlement Platform Goes Live, OCC Enters Into Consent Order With NY Bank for...

BakerHostetler on

Interest in Blockchain-Based Supply-Chain Initiatives Continues to Swell - Interest in blockchain-based supply-chain initiatives continues to swell. The Indonesia Customs and Excise Department recently announced a...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

Jones Day

Financial Crimes Enforcement Network Consolidates Guidance on Virtual Currencies

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The Situation: The Financial Crimes Enforcement Network ("FinCEN") released interpretive guidance concerning the application of the Bank Secrecy Act ("BSA") and the anti-money laundering ("AML") regulations to certain...more

Jones Day

NYDFS Rejects Cryptocurrency Exchange License Applications, Citing Compliance Program Flaws

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The Situation: For the first time, the New York State Department of Financial Services ("NYDFS") publicly announced that it had denied a cryptocurrency exchange's applications for virtual currency and money transmission...more

Katten Muchin Rosenman LLP

Bridging the Week - April 2019 #2

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The New York State Department of Financial Services cancelled the temporary authority of a major cryptocurrency exchange to operate in New York, saying its failure to meet anti-money laundering, AML compliance officer quality...more

Perkins Coie

Blockchain Week in Review - December 2018

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U.S. Developments - SEC Remarks on International Virtual Currency Enforcement - On December 5, 2018, Steven Peikin, Co-Director of the Division of Enforcement at the U.S. Securities and Exchange Commission (“SEC”), gave a...more

Perkins Coie

Blockchain Week in Review - November 2018

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Upcoming Bitcoin exchange-traded funds (“ETF”) Decisions - On January 4, 2018, NYSE Arca filed a proposed rule change to list 9 Bitcoin ETFs. Subsequently, the time for the Security Exchange Commission (“SEC”) to approve or...more

Hogan Lovells

The future of Bitcoin (regulation) in Africa

Hogan Lovells on

The launch of the first Bitcoin future for trade in the United States of America during December 2017 has brought significant public attention to both the Bitcoin crypto currency, and the underlying bitcoin network...more

Proskauer - Blockchain and the Law

Busy day for CFTC and SEC Cryptocurrency Regulators: Enforcement Actions, a Public Letter, and Joint Statement

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The CFTC and SEC made numerous headlines Friday in their ongoing efforts to provide regulatory oversight of cryptocurrency markets. The CFTC announced the filing of two civil enforcement actions against allegedly fraudulent...more

Proskauer - Blockchain and the Law

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

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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

Perkins Coie

Blockchain Week in Review – January 2018

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U.S. Developments - Regulatory Updates - CFTC and SEC Enforcement Directors Issue Joint Statement Regarding Virtual Currency Enforcement Actions - This morning, the Enforcement Director of the U.S. Commodity...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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AT&T has dropped plans to sell the Mate 10—the newest smartphone from China’s Huawei Technologies—just before the partnership was to be announced. AT&T gave no reasons for its abrupt reversal, but lawmakers have recently...more

Wilson Sonsini Goodrich & Rosati

WSGR Fintech Update - September 2017

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FinCEN Sanctions Offshore Virtual Currency Exchange - The Financial Crimes Enforcement Network (FinCEN) recently imposed civil money penalties of over $122 million against BTC-e (also known as Canton Business Corporation)...more

K2 Integrity

Are Banks Ready for a KYC Revolution?

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Many of the world’s largest financial institutions have invested in distributed ledger technology—known popularly as blockchain technology—to improve their business operations. An area where this disruptive innovation holds...more

Ballard Spahr LLP

Combating Money Laundering and Terrorist Financing with a Distributed Ledger

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Despite the staggering $8 billion figure estimated to be spent on global compliance in 2017, U.S.-based rules regarding Anti-Money Laundering (“AML”) and Combating the Financing of Terrorism (“CFT”) remain anchored in their...more

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