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Virtual Currency › Today's Popular Updates › Regulatory Oversight

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

GLI Cayman Islands blockchain and cryptocurrency regulation 2025, seventh edition

Carey Olsen on

Regulatory clarity in the digital assets and crypto space continues to be a moving target. Yet, the interest among policymakers and regulators worldwide has never been more pronounced. In the United States, 2024 was a pivotal...more

Conyers

The Importance of Sound Corporate Governance for Virtual Asset Service Providers: Lessons from Past Failures

Conyers on

In recent years, the virtual asset industry has experienced exponential growth, bringing about innovations in digital payments, tokenisation and decentralised finance (Defi). While highly innovative, the volatile nature of...more

Polsinelli

Blockchain+ Bi-Weekly - June 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

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts

Skadden, Arps, Slate, Meagher & Flom LLP on

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

Cadwalader, Wickersham & Taft LLP

The Crypto Industry Is Talking Tax, and the Senate Is Listening

Cadwalader, Wickersham & Taft LLP on

On June 7, 2022, U.S. Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) introduced the Lummis-Gillibrand Responsible Financial Innovation Act (the “Act”), a comprehensive legislative scheme for the regulation of...more

Alston & Bird

U.S. Government Steps Up Its Enforcement in the Digital Assets Space

Alston & Bird on

Our Blockchain & Digital Assets Team offers a snapshot sample of significant recent developments by a panoply of federal agencies and departments that represent the expanding array of enforcement tools used by federal...more

Patterson Belknap Webb & Tyler LLP

The SEC Begins Regulation of Cryptocurrency Interest Account Offerings

Patterson Belknap Webb & Tyler LLP on

On June 29, 2021, a major cryptocurrency exchange (the “Crypto Exchange”) announced a new program called “Lend” in which it proposed offering customers a 4% interest rate on cryptocurrency tied to USD....more

Vinson & Elkins LLP

Sound the Alarm: DOJ’s New Criminal and Civil Tools to Combat Crypto-Cyber Threats Should Prompt Investment in Cyber Compliance

Vinson & Elkins LLP on

As a strong signal that it intends to increase its focus on illicit crypto transactions, the Department of Justice (“DOJ”) announced the creation of an enforcement team, the National Cryptocurrency Enforcement Team (“NCET”),...more

Jones Day

Crypto and the Reach of Unclaimed Property Laws: Is New Illinois Legislation the Future?

Jones Day on

Cryptocurrencies are quickly becoming part of the financial mainstream, with institutional and retail investors alike adding them to their portfolios in record numbers. State legislatures are trying to keep up with this...more

Burr & Forman

Tuesday’s Rising Regulatory Chorus On Crypto

Burr & Forman on

This past Tuesday, September 21, the chorus calling for more regulation over crypto reached a sort of crescendo. The SEC - Earlier, in September 14 testimony before the Senate Banking Committee [1], former CFTC and current...more

Perkins Coie

Blockchain Week in Review - April 2021 #4

Perkins Coie on

U.S. Developments - Bipartisan crypto bill passes House of Representatives - Last week, the U.S. House of Representatives passed H.R. 1602, titled “Eliminate Barriers to Innovation Act of 2021.” The bill was first...more

Morgan Lewis - All Things FinReg

Bitcoin 101: Halves, Halving, and ‘the Halvening’

Morgan Lewis - All Things FinReg on

The virtual currency Bitcoin has been a hot topic in FinReg for some time, but in recent weeks mainstream interest in Bitcoin has grown in light of the approaching “halving” or “halvening.” So what is the “halvening” and why...more

Polsinelli

BitBlog Bi-Weekly Update - February 2020

Polsinelli on

Many crypto entrepreneurs are seeking to build decentralized networks in which a token serves as a means of exchange on, or provides access to a function of the network.  In the course of building out the network, they need...more

Orrick - On the Chain

Cryptocurrency and OFAC: Beware of the Sanctions Risks

Orrick - On the Chain on

A recent federal criminal action shows the depth of the U.S. government’s concern about the use of cryptocurrency (or virtual currency) to violate economic sanctions laws and the lengths to which it will go to charge such...more

Hogan Lovells

UK FCA becomes AML/CFT crypto supervisor

Hogan Lovells on

The UK Financial Conduct Authority (FCA) has become the anti-money laundering and countering the financing of terrorism (AML/CFT) supervisor for some types of cryptoasset businesses. These will need to meet certain...more

Jones Day

AMF Establishes New Legal Framework for Digital Asset Service Providers in France

Jones Day on

The Situation: Following the enactment earlier in 2019 of new French legislation to regulate activities related to digital assets (including cryptocurrency but excluding tokenized securities), final regulatory provisions were...more

Robinson+Cole Data Privacy + Security Insider

The Future of Stablecoins—Anything But Stable?

Robinson+Cole Data Privacy + Security Insider on

Stablecoin currencies such as Facebook’s Libra may pose systemic risks to the global financial system, according to a recently released Federal Reserve Report. In its Financial Stability Report released on November 19, 2019,...more

Perkins Coie

Blockchain Week in Review - November 2019 #3

Perkins Coie on

U.S. Developments - The Fed Chairman Comments on Potential for a US-backed Digital Currency - Jerome Powell, Chairman of the Federal Reserve, wrote to Congress this week discussing the merits of implementing a central...more

Polsinelli

BitBlog Weekly Summary

Polsinelli on

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

Jones Day

NY DFS Doubles Down on FinTech, Consumer Protection, and Cryptocurrency Regulation - The New York State Department of Financial...

Jones Day on

Consistent with New York's status as a financial services and technology hub, the New York State Department of Financial Services (the "NY DFS") announced on July 23, 2019 a new Research and Innovation Division (the...more

Carlton Fields

State Regulations on Virtual Currency and Blockchain Technologies - (Updated)

Carlton Fields on

There exists no uniformity with respect to how businesses that deal in virtual currencies (also known as "cryptocurrencies") such as Bitcoin are treated among the states. For these proprietors, often the first question asked...more

Burr & Forman

Congress Seeks to Add Formal Definitions to "Blockchain" and "Digital Token"

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As the 116th Congress continues its work in the first session, several new and revived bills have been introduced concerning blockchain and cryptocurrencies. ...more

Jones Day

Jones Day Presents: State Regulations and Blockchain

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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

Jones Day

Jones Day Presents: Regulatory Issues and Blockchain

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Partner Harriet Territt discusses how technologies such as blockchain and digital currencies have outpaced regulators and the steps various governmental agencies are taking to address regulatory issues....more

Perkins Coie

Blockchain Week in Review - January 2019 #3

Perkins Coie on

U.S. Developments - Flood of State Virtual Currency Legislation - Since the start of the new year there have been roughly nine virtual currency bills introduced or passed in four different states. Overall, the bills...more

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