Within the past two months, three states have adopted the Money Transmission Modernization Act (MTMA). The governors of Virginia, Mississippi, and most recently Colorado, signed bills that implement the MTMA, and two other...more
5/13/2025
/ Cryptocurrency ,
Digital Assets ,
Financial Services Industry ,
FinTech ,
Money Transmitter ,
New Legislation ,
Payment Systems ,
Regulatory Reform ,
Regulatory Requirements ,
State Legislatures ,
Virtual Currency
Since finalizing the “BitLicense” regulatory regime in June 2015, the New York Department of Financial Services (NYDFS) has granted only 25 licenses. This underscores how the BitLicense regulatory framework has been a barrier...more
Back in 2018, four different courts in the U.S. held that cryptocurrencies were commodities. This did not cause a huge ripple in the cryptocurrency community because the Commodity Exchange Act does not apply to retail...more
The growing popularity of virtual currency over the last several years has raised a host of legislative and regulatory issues. A key question is whether and how a state’s money transmitter law applies to activities involving...more
March was a busy month in the blockchain and cryptocurrency space for the Wyoming state government. The legislature passed, and the governor signed, five bills that many in the industry view as favorable to blockchain and...more
Over the past two years, financial regulatory bodies in the United States and Europe have increasingly emphasized consumer due diligence (“CDD”) by financial institutions as a means to combat money laundering and terrorist...more
11/30/2016
/ Anti-Money Laundering ,
Customer Due Diligence (CDD) ,
Department of Justice (DOJ) ,
Due Diligence ,
EU ,
FATF ,
Financial Institutions ,
FinCEN ,
Member State ,
Office of Foreign Assets Control (OFAC) ,
Terrorism Funding ,
Virtual Currency