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Virtual Currency › Stablecoins

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 -
Morrison & Foerster LLP

Not Just Fun and Games? CFPB Seeks Comments on Proposed Interpretive Rule to Place New Forms of Digital Payments, Including...

Morrison & Foerster LLP on

On January 15, 2025, days before the start of the Trump administration, the Consumer Financial Protection Bureau (CFPB) published a proposed interpretive rule (Proposed Rule) seeking public comment on how the Electronic Fund...more

Goodwin

CFPB Proposes to Include Virtual Currency Transactions Under the EFTA

Goodwin on

The Consumer Financial Protection Bureau (CFPB) issued a proposed interpretive rule that, if finalized as written, would bring certain virtual currency products and services, such as stablecoins and digital wallets, within...more

Sheppard Mullin Richter & Hampton LLP

Riding the Wave: How the Crypto Surge is Influencing Finance

Sheppard Mullin Richter & Hampton LLP on

As 2024 concludes, financial markets are witnessing significant shifts, particularly within the world of cryptocurrency. As crypto investors profit, many cash out from more volatile assets, such as Bitcoin, to safer options...more

BakerHostetler

Weekly Blockchain Blog - December 2024 #3

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Digital Asset Companies Achieve Licenses, Launch Stablecoin Products - According to a recent press release, Anchorage Digital, a digital asset platform and infrastructure provider, announced that the New York State...more

BakerHostetler

Weekly Blockchain Blog - November 2024 #3

BakerHostetler on

Crypto Exchanges and Stablecoin Issuers Announce Multiple New Products - Multiple crypto sector companies have recently announced new products. In a press release, LayerZero, “an omnichain interoperability protocol that...more

BakerHostetler

Weekly Blockchain Blog - October 2024 #3

BakerHostetler on

Crypto Companies Announce New Stablecoin Products and Partnerships - In recent press releases, U.S. crypto companies Paxos and Ripple announced new stablecoin products and partnerships. Paxos announced the launch of a new...more

Conyers

Stablecoins in the Cayman Islands

Conyers on

The evolution of the cryptocurrency landscape has led to the development and rapid adoption of stablecoins globally. A stablecoin, as the name suggests, is essentially a virtual asset that is designed to maintain a stable...more

BakerHostetler

Weekly Blockchain Blog - August 2024 #4

BakerHostetler on

Financial Firms Announce Crypto Initiatives, Stablecoin Growth Continues - A major U.S. crypto investment company recently announced the launch of its Avalanche Trust, which “offers investors the opportunity to gain...more

Hogan Lovells

Tokenized Deposits, Stablecoins and E-money: A Comparative Guide for the UK

Hogan Lovells on

From the use of metal coins to the dematerialization of money, the advent of distributed ledger technology (DLT) and tokenisation arguably represents the next stage in the evolution of money and the payments ecosystem. As...more

A&O Shearman

Investigations update: Hong Kong authorities ramp up enforcement in virtual assets and other sectors

A&O Shearman on

Hong Kong has seen cryptocurrencies grow in popularity, highlighting the need for appropriate licensing regimes (implemented in the form of virtual asset service providers (VASPs)), bolstered by active enforcement actions. ...more

A&O Shearman

MiCAR under the microscope - Part 3: The issuance of stablecoins under MiCAR: Scope and requirements

A&O Shearman on

The huge expansion of crypto-assets over recent years and the popularity of their underlying technology (distributed ledger technology (DLT) or blockchain) have come with their share of challenges, including a significant...more

K2 Integrity

NYDFS Issues Updated And Stricter Virtual Currency Listing Guidance – New Policy Updates Due For Approval By January 31, 2024

K2 Integrity on

Following a two-month public consultation period, on 15 November 2023 the New York State Department of Financial Services (NYDFS) published its new Virtual Currency Listing Guidance (the Guidance), in accordance with virtual...more

A&O Shearman

California enacts two new virtual currency laws: What market participants need to know

A&O Shearman on

On October 13, 2023, California enacted two bills that significantly expand the regulation of virtual currency-related activities in California: Assembly Bill 39 (AB 39), known as the California Digital Financial Assets...more

BakerHostetler

Crypto Firms Launch New Initiatives; Whitepapers Address DeFi, Crypto Risks, CBDCs; OFAC Adds Crypto Addresses to SDN List...

BakerHostetler on

Crypto Firms Continue to Launch New Initiatives Across Markets - In a recent press release, digital asset infrastructure firm Fireblocks announced its acquisition of BlockFold, “a smart contract development and...more

Latham & Watkins LLP

NYDFS Proposes Updated Guidance on Crypto Listing

Latham & Watkins LLP on

The Proposed Guidance would require enhanced criteria for coin-listing and delisting procedures for New York-licensed virtual currency entities. On September 18, 2023, the New York Department of Financial Services (DFS)...more

Polsinelli

Blockchain+ Bi-Weekly - August 2023 #2

Polsinelli on

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

Orrick, Herrington & Sutcliffe LLP

Connecticut establishes rules for virtual currency kiosks

Orrick, Herrington & Sutcliffe LLP on

On June 27, the Connecticut governor signed HB 6752 (the “Act”) to establish certain requirements for owners or operators of virtual currency kiosks in the state. Among other things, the commissioner has the authority to...more

Kilpatrick

Key Takeaways – Digital Assets (Cryptocurrencies, Stablecoins, Tokenization, and CBDCs)

Kilpatrick on

With the rapid expansion and adoption of digital assets (cryptocurrencies, stablecoins, tokenized assets, and central banks digital currencies), companies of all types are being asked to address and interact with this growing...more

Proskauer - Tax Talks

Recent Legislative Proposals and IRS Guidance on the Taxation of Digital Assets

Proskauer - Tax Talks on

This blog post summarizes recent federal bills that have been introduced (but not yet passed), proposals by the Biden Administration, and guidance issued by the Internal Revenue Service with respect to the taxation of digital...more

Orrick, Herrington & Sutcliffe LLP

Wyoming to issue stable tokens

Orrick, Herrington & Sutcliffe LLP on

On March 17, the Wyoming governor signed SF 127 enacting the Wyoming Stable Token Act, creating the Wyoming stable token commission, and authorizing the issuance of stable tokens in the state. ...more

Kilpatrick

A Brief Primer on Cryptocurrencies, Stablecoins, Tokenization, and Central Bank Digital Currencies

Kilpatrick on

Digital assets, including cryptocurrencies, stablecoins, tokenized assets, and central bank digital currencies, are fundamentally reshaping U.S. and global business and transactions. That said, this transformation is complex,...more

ASKramer Law

Tax Return Reporting of Cryptocurrency

ASKramer Law on

You need to consider how you’ll report digital asset transactions on your 2022 tax returns. Tax reporting requirements for digital assets have changed yearly since 2019, when the IRS first added a question about crypto to IRS...more

Morgan Lewis - All Things FinReg

Staking as a Service Regulating Digital Assets in the UK and Dubai and More

Morgan Lewis - All Things FinReg on

In this new series, we will provide an overview of recent noteworthy developments in the digital asset space around the world. The start of February was a busy period for regulators in the United States, where the US...more

A&O Shearman

Catching lightning in a bottle: Regulatory developments concerning crypto assets in Hong Kong, Singapore and Australia

A&O Shearman on

Depending on who you talk to, crypto assets represent either the most significant evolutionary shift in finance since coins were minted or the greatest bubble since tulips. Whilst the jury remains out on that point, it is...more

A&O Shearman

International Bodies Confirm Application of Principles for Financial Market Infrastructures to Systemically Important Stablecoin...

A&O Shearman on

The International Organization of Securities Commissions and the Committee on Payments and Market Infrastructures have published guidance on the application of the Principles for Financial Market Infrastructures to...more

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