News & Analysis as of July 19, 2025

New Legislation

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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 -

Rhode Island enacts new virtual currency kiosk provisions

Orrick, Herrington & Sutcliffe LLP on 6/30/2025

On June 23, the governor of Rhode Island signed into law HB 5121 which grants Rhode Island new currency transmission laws to regulate and establish new licensing, disclosure and anti-fraud requirements for virtual currency...more

Blockchain+ Bi-Weekly - June 2023 #2

Polsinelli on 6/30/2023

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

Breaking Down the New Bitcoin Bill: An Overview of the Lummis-Gillibrand Responsible Financial Innovation Act

Shumaker, Loop & Kendrick, LLP on 6/9/2022

On January 3, 2009, the pseudonymous “Satoshi Nakamoto” mined the first bitcoin. In the years following bitcoin’s creation, the price of a single bitcoin has increased exponentially, from essentially zero to an all-time high...more

Virtual Currency Legal Report - July 2021 #2

Perkins Coie on 8/3/2021

U.S. Developments - Legislation - Congress Members Reintroduce Bill to Define Digital Assets - U.S. Representative Tom Emmer (MN-06) re-introduced legislation aimed at defining how regulators should classify and...more

Blockchain Week in Review - January 2021

Perkins Coie on 1/27/2021

Federal Regulation Actions Frozen Pending Review from New Administration - On January 20, 2021, newly inaugurated President Joe Biden issued a memorandum to the Heads of Executive Departments and Agencies asking current...more

Blockchain Week in Review - March 2019 #2

Perkins Coie on 3/19/2019

U.S. Developments - Denver to Implement Blockchain-Based Elections for Overseas Voters - Denver moves to become the second U.S. jurisdiction to implement a blockchain-based voting system for overseas voters. Active duty...more

Blockchain Week in Review - January 2019 #3

Perkins Coie on 1/24/2019

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

State Regulations on Virtual Currency and Blockchain Technologies (Updated)

Carlton Fields on 1/9/2019

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....more

Wyoming and Vermont Look to Blockchain for Economic Development

Fisher Phillips on 7/30/2018

A small number of states see blockchain technology as a way to attract new businesses to their state to spur economic development. In March 2018, Wyoming Governor Matt Mead signed sweeping legislation that makes limited...more

States Race To Embrace Blockchain Technology

Robinson+Cole Data Privacy + Security Insider on 7/24/2018

Add Connecticut, Ohio and Vermont to the list of states passing legislation focused on the potential disruptive impact of blockchain – the technology underlying cryptocurrencies such as Bitcoin. ...more

Vermont Passes New Blockchain Legislation

Blank Rome LLP on 7/10/2018

Vermont continues its play to bring blockchain business to the state. On May 30, 2018, Vermont Governor Phil Scott signed into law Senate Bill 269: An Act Related to Blockchain Business Development, which became effective...more

Blockchain Week in Review - June 2018

Perkins Coie on 7/2/2018

...On June 28, the Commodity Futures Trading Commission and the Securities and Exchange Commission announced a new Memorandum of Understanding meant to allow two agencies to further coordinate in areas of common interest. ...more

Understanding the Effect of Wyoming’s Blockchain and Cryptocurrency Legislation

K&L Gates LLP on 6/5/2018

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

State Regulations On Virtual Currency And Blockchain Technologies

Carlton Fields on 11/10/2017

As of this inaugural publication, 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...more

New Hampshire Exempts Bitcoin from Money Transmitter Regulation

Sheppard Mullin Richter & Hampton LLP on 6/15/2017

The pro-bitcoin legislation trend continues. This month New Hampshire passed legislation that exempts persons using virtual currency from registering as money transmitters. Specifically, the law amends existing RSA 399-G,...more

New Nevada Law Recognizes Enforceability of Blockchain Transactions; Blocks Local Government Regulation and Taxation

Robinson+Cole Data Privacy + Security Insider on 6/13/2017

Senate Bill 398, unanimously passed by the Nevada legislature and signed into law by the Governor on June 5th, represents the most far-reaching state legislation to date concerning the use of blockchain technology. Blockchain...more

Blockchain Week in Review – April 2017 #3

Perkins Coie on 5/5/2017

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

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