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Virtual Currency › FinTech

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 -
DLA Piper

Blockchain and Digital Assets News and Trends - August 2024

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This monthly bulletin is designed to help companies identify important legal developments governing the use and acceptance of blockchain technology, smart contracts, and digital assets....more

Wilson Sonsini Goodrich & Rosati

Focus on Fintech – Q1 2024

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In this latest edition, our attorneys discuss updates and developments from federal regulators, including those related to the intersection of fintech and artificial intelligence, cryptocurrency and virtual currency updates,...more

Hogan Lovells

Key Takeaways from the BIS Innovation Summit 2024

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The BIS Innovation Summit 2024, which took place over 6-8 May 2024, was in turns both an inspiring and surprising event. This article sets out a summary of the key takeaways from the summit....more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 25: Virtual Currencies: Exploring the Regulatory Landscape with Jerry Comizio

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Jerry Comizio joins RegFi cohosts Jerry Buckley and Sherry Safchuk for a conversation about the intricate world of virtual currencies. Professor Comizio is Associate Director of the Business Law Program at American...more

BakerHostetler

No Further Warnings - Prosecutors Bring First Pure Legal Digital Asset Tax Indictment; More Criminal Cases to Come

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After years of explicitly warning taxpayers that failing to report or underreporting income from transactions involving digital assets would lead to criminal charges, federal prosecutors are now beginning to follow through on...more

Polsinelli

Blockchain+ Bi-Weekly - February 2024

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The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more

Pillsbury Winthrop Shaw Pittman LLP

OFAC Issues New Sanctions Targeting Hamas’s Financing Networks

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Following the October 7 attack on Israel by Hamas, the Treasury Department’s Office of Foreign Assets Control (OFAC) has undertaken several initial sanctions steps to counter terrorist financing and call attention to...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, August 2023

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Key developments of interest over the last month include: Germany’s Ministry of Finance asking industry groups for feedback on the EU PSD3/PSR legislative proposals; the UK Payment Systems Regulator consulting on the consumer...more

Polsinelli

Blockchain+ Bi-Weekly - August 2023 #2

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The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more

Cadwalader, Wickersham & Taft LLP

FDIC's Annual Risk Review Includes Crypto Risks for First Time

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The Federal Deposit Insurance Corporation (“FDIC”) published its annual Risk Review this past Monday, providing an overview of banking conditions for 2022 through early 2023. The FDIC started providing Risk Reviews to the...more

Troutman Pepper

New York’s Attorney General Proposes New Crypto Legislation in Crackdown on Industry

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New York’s Attorney General Letitia James has proposed landmark legislation entitled the Crypto Regulation, Protection, Transparency, and Oversight Act (CRPTO Act) in an attempt to tighten New York’s regulations on the...more

Perkins Coie

NYDFS Implements Virtual Currency Assessments Rule

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The New York Department of Financial Services (NYDFS) formally implemented its Virtual Currency Assessments Rule as 23 NYCRR 102 on Wednesday, April 19, 2023, by publishing a notice of adoption in the State Register. Under...more

Orrick, Herrington & Sutcliffe LLP

NYDFS, crypto payment service provider resolve AML/cybersecurity violations

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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

Orrick, Herrington & Sutcliffe LLP

Wyoming to issue stable tokens

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On March 17, the Wyoming governor signed SF 127 enacting the Wyoming Stable Token Act, creating the Wyoming stable token commission, and authorizing the issuance of stable tokens in the state. ...more

Brownstein Hyatt Farber Schreck

Crypto Policy Questions Linger Weeks After Historic Banking Crisis

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The crypto industry is at a critical juncture: As it continues to operate absent clear regulatory guidance (other than by enforcement) and prospects dim for legislation that would create a roadmap for regulation—the...more

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - February 2023

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CryptoLink is a compilation of news stories published by outside organizations. Akin aggregates these stories, but the information contained in them does not necessarily represent the beliefs or opinions of the firm. Akin's...more

Orrick, Herrington & Sutcliffe LLP

District Court says EFTA applies to cryptocurrency

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On February 22, the U.S. District Court for the Southern District of New York partially granted a cryptocurrency exchange’s motion to dismiss allegations that its inadequate security practices allowed unauthorized users to...more

Morgan Lewis - All Things FinReg

States, Countries Focus on Fraud Prevention and Customer Protection in Crypto

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New York has enhanced its fraud prevention tools, while consumers can identify crypto scams using California’s scam tracker. A week after the US Securities and Exchange Commission (SEC) proposed amendments to cover...more

Morgan Lewis - All Things FinReg

NYDFS to Crypto Custodians Proceed with Caution

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In the depth of a crypto winter, the New York State Department of Financial Services (DFS) issued guidance (the Guidance) on custodial standards for those with a BitLicense or that are registered as New York state limited...more

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - January 2023

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Whether or not there is a thaw in the long “crypto winter,” U.S. policymakers seem determined to bring some regulatory certainty to the industry. And, contrary to claims that the dramatic events of last fall would undercut...more

Skadden, Arps, Slate, Meagher & Flom LLP

CFTC Settles Claims Against Founders of a Decentralized Protocol and Sues Its Successor DAO and Its Members, Pressing a Novel...

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On September 22, 2022, the Commodity Futures Trading Commission (CFTC or Commission) (1) issued an order settling charges against protocol creator bZeroX, LLC and its founders, and (2) filed a federal civil enforcement action...more

Skadden, Arps, Slate, Meagher & Flom LLP

Navigating the Uncharted Legal Territory of NFTs

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Takeaways Many businesses are exploring NFTs as a way to capitalize on intellectual property and reinforce relationships with fans and customers. Those weighing whether to “mint” NFTs need to look closely at existing...more

Davis Wright Tremaine LLP

U.S. FinTech Laws and Regulations 2022

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GLI – FinTech 2022 is a U.K.-based online guide to key FinTech developments across the globe. Each chapter covers approaches and developments, FinTech offerings, related technology, regulatory bodies, key regulations and...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts

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A flurry of legal and enforcement activity has arisen over the last two weeks across a wide range of areas in the Web3 space, including actions by the Securities and Exchange Commission, the Office of Foreign Assets Control,...more

A&O Shearman

International Bodies Confirm Application of Principles for Financial Market Infrastructures to Systemically Important Stablecoin...

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The International Organization of Securities Commissions and the Committee on Payments and Market Infrastructures have published guidance on the application of the Principles for Financial Market Infrastructures to...more

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