News & Analysis as of May 20, 2025

Virtual Currency › Innovative Technology

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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 -

FINRA’s Blueprint for the Metaverse

Carlton Fields on 5/6/2025

In October 2024, FINRA released its blueprint for the securities industry’s use of the metaverse — the metaverse report. The metaverse, often framed as “the next evolution of today’s internet,” is a loosely defined term used...more

Operation Hidden Treasure Is NOT A Treasure For Crypto Holders

Foodman CPAs & Advisors on 5/4/2021

On March 6, 2021, Forbes reported that Damon Rowe, Director, Fraud Enforcement Office, Internal Revenue Service, Washington, DC, remarked that the IRS “added some crown jewels,” including a dedicated team of IRS Criminal...more

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

Polsinelli on 4/28/2021

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

Uncle Sam Wants to Protect Blockchain Technology

Polsinelli on 9/11/2020

On August 27, 2020, the head of the U.S. Department of Justice’s Antitrust Division (“DOJ”), Makan Delrahim, spoke at the Thirteenth Annual Conference on Innovation Economics and emphasized that one of the DOJ’s top...more

An Ode to Joy- Congressional Research Service’s report on FinTech Innovation and Policy

Polsinelli on 5/13/2020

On April 28, 2020, the Congressional Research Service (CRS) published an in depth report related to Fintech, titled Fintech: Overview of Innovative Financial Technology and Selected Policy Issues....more

Treasury Report Targets Money Laundering Risks in Real Estate and Gatekeeper Professions

Ballard Spahr LLP on 3/5/2020

In its 2020 National Strategy for Combating Terrorist and Other Illicit Financing (“2020 Strategy”), the U.S. Department of Treasury (“Treasury”) has laid out its AML and money laundering enforcement priorities. Last week, we...more

BitBlog Weekly Summary

Polsinelli on 10/2/2019

This summary covers the last two weeks which includes news about continued enforcement actions by the U.S. Securities and Exchange Commission (“SEC”) involving fraudulent digital asset transactions, dismissal of a securities...more

FinCEN Deputy Director Stresses Technological Innovation, Virtual Currency Enforcement and the U.S. Culture of Compliance

Ballard Spahr LLP on 9/20/2019

Last Wednesday, FinCEN Deputy Director Jamal El-Hindi appeared at the annual conference of the Money Transmitter Regulators Association and delivered prepared remarks. The topics of his address covered three issues of...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

CFTC Considers Blockchain Technology

Orrick, Herrington & Sutcliffe LLP on 8/1/2016

The disruptive effects of blockchain technology on the financial system may take several years to materialize. Nevertheless, in preparation, regulators are increasingly focused on understanding potential uses of blockchain...more

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Virtual Currency › Innovative Technology

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