News & Analysis as of

Virtual Currency › Risk Mitigation

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 -
American Conference Institute (ACI)

[Event] 24th National Forum on Prepaid Accounts Compliance - April 8th, New York, NY

American Conference Institute (ACI) on

The 24th National Forum on Prepaid Accounts Compliance will address the latest developments impacting the prepaid industry and provide answers to the most pressing questions and challenges being faced by practitioners in this...more

Latham & Watkins LLP

New York Department of Financial Services Issues Crypto Guidance for Banks

Latham & Watkins LLP on

Digital asset activities of licensed institutions must be approved and will be assessed for potential safety and soundness risks. On December 15, 2022, the New York State Department of Financial Services (NYDFS) issued...more

BakerHostetler

Treasury Plans Significant Actions to Curb Illicit Digital Asset Financing

BakerHostetler on

As part of a coordinated effort with the U.S. Secretary of State, Attorney General, Secretary of Commerce, Secretary of Homeland Security, Director of the Office of Management and Budget, Director of National Intelligence,...more

WilmerHale

All About Web3: The Regulatory Outlook for Cryptocurrency

WilmerHale on

Cryptocurrency continues to dominate the headlines, from starting the year at a high with major TV ads to questions in recent weeks about the stability of the market. In this episode of In the Public Interest, co-host and...more

BakerHostetler

Crypto Payment Initiatives Launch; Report Cites Evolving Crypto Views; G7, ECB, BIS Address Crypto Risks; DOJ, CFTC Target NFT...

BakerHostetler on

New Cryptocurrency Payments Systems, Tokens and Trade Associations Launch - A leading global cryptocurrency platform has reportedly announced a partnership with a global e-commerce platform that would allow e-commerce...more

Cohen & Gresser LLP

Increased Scrutiny for the Crypto Industry: DOJ Creates a Special Enforcement Team as Regulators Sharpen their Focus

Cohen & Gresser LLP on

The cryptocurrency industry should brace itself for increased scrutiny from the DOJ and other enforcement agencies. The DOJ recently announced the creation of a National Cryptocurrency Enforcement Team (“NCET”), which will...more

Orrick, Herrington & Sutcliffe LLP

Treasury Actions to Counter Ransomware

Orrick, Herrington & Sutcliffe LLP on

On September 21, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced several actions focused on disrupting criminal digital finance infrastructure, including virtual currency...more

Rosenberg Martin Greenberg LLP

Bitcoin, the IRS, and the Love that was Lost

Rosenberg Martin Greenberg LLP on

We have all heard the stories. Romeo and Juliet, Cleopatra and Mark Antony, and my personal favorite, Illsa Lund and Rick Blaine. Everyone loves a great love story.  A developing romance leading to an emotionally pleasing and...more

White & Case LLP

NYDFS Requires LIBOR Transition Plans by Early February

White & Case LLP on

On December 23, 2019, the New York Department of Financial Services (NYDFS) issued an Industry Letter instructing each institution it regulates, including banks and licensed Fintechs, to make submissions describing the...more

Sheppard Mullin Richter & Hampton LLP

Legal Issues With Blockchain-Based Crypto Games and Collectibles

Sheppard Mullin Richter & Hampton LLP on

The use of blockchain technology for crypto games and token-based digital collectibles is on the rise. One of the first crypto games of note was CryptoKitties. It may turn out that CryptoKitties becomes to crypto games what...more

Manatt, Phelps & Phillips, LLP

Bitcoin In The News: International Reports, California Makes It Legal

Manatt, Phelps & Phillips, LLP on

Virtual and digital currencies continue to be the focus of policy makers around the globe. In addition to new reports from international bodies addressing both the benefits and risks of the currencies, California...more

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