News & Analysis as of September 20, 2024

Virtual Currency › Innovation

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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 -

New York’s Department of Financial Services: the Self-Styled “Regulator of the Future”

Sheppard Mullin Richter & Hampton LLP on 9/30/2019

Under its new leader, the New York Department of Financial Services (“DFS”) has staked out high ground for itself by self-identifying as the “regulator of the future” DFS’s pronouncement came in a July press release issued...more

Jones Day Presents: State Regulations and Blockchain

Jones Day on 3/20/2019

Jones Day's Margaret Lyle discusses the approach various state legislatures are taking with respect to blockchain, which is to support the technology and foster entrepreneurship. She also describes how states are dealing with...more

Crypto Firms Make Inroads with State and Federal Regulators

Sheppard Mullin Richter & Hampton LLP on 10/31/2018

Over the past couple of years, the crypto industry has come under heavy scrutiny from skeptical regulators seeking to root out fraud and protect investors amid the initial coin offering boom that generated over $4 billion in...more

U.S. Moves Ahead with Federal “Fintech Sandbox” — CFPB Announces Creation of Office of Innovation

Robinson+Cole Data Privacy + Security Insider on 7/30/2018

In an effort to promote the development of new financial technology (fintech) products, Mick Mulvaney, acting director of the Consumer Financial Protection Bureau (CFPB), announced last week the creation of the Office of...more

Congress and the Blockchain: The 2018 Joint Economic Report’s Discussion on Cryptocurrency

The Volkov Law Group on 3/22/2018

A few days ago, Congress released its 2018 Joint Economic Report. As many of you know, the Joint Economic Committee prepares this report as a national assessment of the country’s economic status. The report often assesses...more

Blockchain Week in Review – May 2017 #4

Perkins Coie on 5/30/2017

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

State Banking Regulators Issue Annual Report

Manatt, Phelps & Phillips, LLP on 6/27/2016

What were state banking regulators focused on last year? A new report from the Conference of State Bank Supervisors (CSBS) reveals that state regulators "increased coordination and collaboration between state regulators and...more

Virtual Currencies: New York State Department of Financial Services Releases Proposed Regulations

Latham & Watkins LLP on 8/1/2014

As the first of their kind, the proposed regulations may add legitimacy to virtual currencies, but the new regulatory regime could stifle innovation and development. On July 23, 2014, the New York State Department of...more

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Virtual Currency › Innovation

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