News & Analysis as of September 19, 2024

Virtual Currency › Real Estate Transactions

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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 -

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2023 # 4

Troutman Pepper on 10/25/2023

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...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

FinCEN Renews GTOs

Ballard Spahr LLP on 11/11/2019

On November 8, 2019, the Financial Crimes Enforcement Network (“FinCEN”) reissued its Geographic Targeting Orders (“GTOs”) requiring U.S. title insurance companies to identify the natural persons behind legal entities used in...more

Residential Real Property Purchased with Virtual Currency must be Reported

Foodman CPAs & Advisors on 3/25/2019

On November 15, 2018, the Financial Crimes Enforcement Network (FinCEN) announced the issuance of a “Revised” Geographic Targeting Order (GTO) that requires U.S. title insurance companies (Covered Business) to identify the...more

Blockchain Week in Review - February 2019 #4

Perkins Coie on 3/5/2019

U.S. Developments - Regulatory Updates - SEC Settles Enforcement Action with Gladius Network - On February 20, 2019, the U.S. Securities and Exchange Commission (“SEC”) announced the settlement of charges against...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 3/8/2018

Heath insurance behemoth Cigna has agreed to buy Express Scripts—a “pharmacy benefits manger”—for $67 billion in cash and stock, including assuming $15 billion of its debt. The merger is one of a series of big moves in the...more

Blockchain: The Impact on the Real Estate Industry

Pillsbury Winthrop Shaw Pittman LLP on 12/28/2016

By changing the way that information is digitally stored and exchanged, blockchain technology will alter the way real estate is recorded, transferred, financed and managed globally. Bitcoin, the popular virtual currency...more

Blockchain – The Future of Real Estate?

Goulston & Storrs PC on 12/8/2016

Bitcoin and blockchain technology have been gaining publicity in recent years, and although they are primarily known for their use as a digital payment system, there are also promising uses in many areas where trust, cost and...more

Blockchain Basics: A Primer - Blockchain, the technology underlying the cryptocurrency Bitcoin, is poised to revolutionize how all...

Pillsbury Winthrop Shaw Pittman LLP on 5/4/2016

You have probably heard of Bitcoin, a peer-to-peer, non-governmental currency. Bitcoin is the first money that is its own payment system. That is, no bank, money transmitter or intermediary of any kind is required to clear...more

Can New Beneficial Owner Identification Requirement for Cash-Only Real Estate Deals in Miami and New York City Be Avoided if...

Manatt, Phelps & Phillips, LLP on 2/9/2016

Why it matters - After years of concern about money laundering through shell corporations, repeated legislative and regulatory efforts to gain more information on beneficial owners of entities involved in various types...more

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Virtual Currency › Real Estate Transactions

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