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Virtual Currency › Licensing Rules › Digital Assets

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 -
Conyers

Regulatory Update: Cayman Islands VASP Licensing Regime Now in Effect

Conyers on

The Cayman Islands Government has taken a significant step in the regulation of virtual asset service providers (VASPs) with the commencement of the licensing regime under the Virtual Asset (Service Providers) Act (as...more

Carey Olsen

Amendments to the regulatory framework for virtual assets in the Cayman Islands

Carey Olsen on

On 1 April 2025, several key updates will be made to the framework for the regulation of virtual assets in the Cayman Islands. These updates include the introduction and commencement of the VASP licencing framework for...more

Conyers

Advancing Virtual Asset Regulation in the Cayman Islands

Conyers on

Following consultations earlier this year, the Virtual Asset (Service Providers) (Amendment) Bill, 2024 (the Bill) has been gazetted and represents a major milestone in enhancing the Cayman Islands’ regulatory landscape for...more

Carey Olsen

A guide to blockchain and cryptocurrency regulation 2024: British Virgin Islands (GLI chapter)

Carey Olsen on

Chris Duncan and Katrina Lindsay have authored the British Virgin Islands (BVI) chapter of Global Legal Insight's sixth edition guide to blockchain and cryptocurrency regulation. The chapter covers the BVI legal requirements...more

White & Case LLP

Virtual Asset Regulators in the UAE: A comparison of the different licensing frameworks

White & Case LLP on

In recent years, regulators within the United Arab Emirates (the UAE) have worked to foster an environment for the sustainable growth of the UAE virtual asset sector through the enactment of several regulatory measures...more

Sheppard Mullin Richter & Hampton LLP

Thinking of Jumping on the NFT Bandwagon – Are you Prepared?

Sheppard Mullin Richter & Hampton LLP on

“NFT” was 2021’s word of the year. This isn’t too surprising—they’re everywhere! The market cap for NFT transactions jumped from roughly $400 million at the beginning of 2021 to over $7 billion by year’s end. What’s next...more

White & Case LLP

Dubai moves to become a global hub for digital assets: A first look at the Dubai Virtual Assets Law

White & Case LLP on

On 28 February 2022, the Ruler of Dubai issued Law No.4 of 2022 on the Regulation of Virtual Assets (the "DVAL") in Dubai, which came into effect on 11 March 2022. The DVAL is the first law in Dubai, which specifically...more

Morrison & Foerster LLP

Louisiana Becomes Second State To Require Virtual Currency Licensing

Morrison & Foerster LLP on

Developments in virtual currency regulation have been top-of-mind with recently announced initiatives from the New York Department of Financial Services. Companies engaging in virtual currency activity should also, however,...more

Pillsbury Winthrop Shaw Pittman LLP

New York Guidance on Listing Digital Assets

Pillsbury Winthrop Shaw Pittman LLP on

New York DFS proposal: A step forward in treating digital coin assets in a manner commensurate with more traditional financial assets. The New York State Department of Financial Services (DFS) proposed guidance that will...more

Orrick - On the Chain

Wyoming, the “Equality State,” Seeks to Level the Playing Field for Digital Assets Businesses

Orrick - On the Chain on

In its continued effort to establish itself as the go-to jurisdiction for digital asset businesses, Wyoming, through its Department of Audit, Division of Banking, recently published a digital asset custody regime for its...more

Proskauer Rose LLP

New York Proposes First State Bitcoin Regulations

Proskauer Rose LLP on

One might have thought the biggest news in the digital currency world lately was Dell announcing that it was now accepting bitcoin. However, after a series of highly-publicized hearings in January, New York State rolled out...more

Katten Muchin Rosenman LLP

New York DFS Proposes First Comprehensive Regulatory Framework for Virtual Currency Businesses

Katten Muchin Rosenman LLP on

On July 17, the New York State Department of Financial Services (DFS) released the draft “BitLicense,” a proposed regulatory framework to license Virtual Currency Business Activity. The proposed regulations follow DFS...more

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