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Virtual Currency › Financial Institutions › Blockchain

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 -
Conyers

Regulatory & Risk Advisory Review: Cayman Islands – April to June 2025

Conyers on

Welcome to the latest edition of our Regulatory & Risk Advisory Review. In this issue, we explore key regulatory updates and emerging trends to help you stay informed and ahead in today’s dynamic compliance environment. The...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, October 2024

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Key developments of interest over the last month include: the UK FCA publishing a consultation on two-stage reforms to the payments and e-money safeguarding regime; the U.S. Consumer Financial Protection Bureau announcing a...more

Conyers

The Importance of Sound Corporate Governance for Virtual Asset Service Providers: Lessons from Past Failures

Conyers on

In recent years, the virtual asset industry has experienced exponential growth, bringing about innovations in digital payments, tokenisation and decentralised finance (Defi). While highly innovative, the volatile nature of...more

Ballard Spahr LLP

Blockchain Analysis and Related Expert Testimony Admissible In Criminal Trial

Ballard Spahr LLP on

It is challenging for law enforcement to track down and trace illicit activities conducted through digital currencies. The process can be very time- and resource-intensive. Further, securing charges and arrests, and...more

Troutman Pepper Locke

Fed Provides Details of Novel Banking Activities and Cryptocurrency Supervisory Program

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On August 8, the Federal Reserve Board (Fed) issued a press release providing additional information on its Novel Activities Supervision Program (Program) to monitor novel activities in the banks it oversees. Novel activities...more

Perkins Coie

NYDFS Implements Virtual Currency Assessments Rule

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The New York Department of Financial Services (NYDFS) formally implemented its Virtual Currency Assessments Rule as 23 NYCRR 102 on Wednesday, April 19, 2023, by publishing a notice of adoption in the State Register. Under...more

Morgan Lewis - All Things FinReg

NYDFS to Crypto Custodians Proceed with Caution

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In the depth of a crypto winter, the New York State Department of Financial Services (DFS) issued guidance (the Guidance) on custodial standards for those with a BitLicense or that are registered as New York state limited...more

Proskauer - Blockchain and the Law

New York Department of Financial Services Issues Cryptocurrency-Related Guidance to Banks, Increases Regulatory Scope

Proskauer - Blockchain and the Law on

At a time when states are jockeying for position to become digital asset and cryptocurrency hubs and we’ve witnessed turmoil and regulatory uncertainty within the cryptoasset industry, the New York Department of Financial...more

McGlinchey Stafford

Our Top 8 Most Popular Insights of 2022

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As 2022 draws to a close, what better time to revisit our most popular insights of the last year and see what topics have engaged our client industries? Our attorneys work hard to stay on the cutting edge of industry...more

McGlinchey Stafford

Video: Introduction A Deep Dive into DeFi Decentralized Finance

McGlinchey Stafford on

The world of decentralized finance, blockchains, virtual and cryptocurrency have grown exponentially in recent years. Many financial institutions are looking to enter or expand their operations in the digital economy, but the...more

Wilson Sonsini Goodrich & Rosati

No Foolish Transactions: A Few Guidelines for NFT Marketplace Participants to Mitigate Anti-Money Laundering Risks

Wilson Sonsini Goodrich & Rosati on

The global NFT (non-fungible token) market now is worth dozens of billions of dollars annually. Innovators and early adopters, marketplaces, and sellers, are all eager to join this market but may have questions about how to...more

Mintz

DOJ issues charges in first criminal cryptocurrency sanctions case

Mintz on

Last Friday, a federal Magistrate Judge in Washington, D.C. wrote an opinion, in a still sealed case, explaining why he approved a DOJ criminal complaint against an American citizen accused of transmitting more than $10...more

Cadwalader, Wickersham & Taft LLP

FDIC Weighs In on Crypto Activities

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Last week, the FDIC issued a Financial Institution Letter (“FIL”) related to crypto activities, following in some ways in the footsteps of the OCC in requiring notice to the regulator before engaging in crypto-related...more

K2 Integrity

Crypto and Virtual Currency Risks

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The ABA/ABA Financial Crimes Enforcement Conference took place January 11-13, with K2 Integrity Managing Director Gabriel Hidalgo, who leads the firm’s Crypto and Fintech Advisory practice, leading an important conversation...more

Hogan Lovells

The digital Euro - taking shape in 2022

Hogan Lovells on

The European Central Bank (ECB) has just kicked off an “investigation phase” to explore different options for the digital Euro. This phase of detailed consideration for a European version of a Central Bank Digital Currency...more

Barnea Jaffa Lande & Co.

Financial Institutions Seek Involvement in Crypto Field

Barnea Jaffa Lande & Co. on

While Israel’s banks are in no hurry to accept the blockchain industry and are avidly trying to keep their distance from cryptocurrencies, this is not the case elsewhere. Recently, the major global securities, derivatives and...more

BakerHostetler

Crypto Initiatives and Blockchain Supply Chain Solutions Launch; Reports Provide 2021 Crypto Market Stats, Address Risks; DOJ...

BakerHostetler on

Major Financial Institutions Announce Crypto and Blockchain Initiatives - According to reports this week, one of the largest money transfer services in the world will partner with the Stellar Development Foundation to...more

BakerHostetler

Financial Institutions Pursue Cryptocurrency and Blockchain Offerings, US Treasury Sanctions Russian Crypto OTC Desk, Multiple...

BakerHostetler on

Traditional Financial Firms Pursue Crypto and Blockchain Market Offerings -Earlier this week, a major Dutch financial institution reportedly became the sixth broker-dealer to join forces with the first blockchain-based...more

McGlinchey Stafford

Cryptocurrency: Wild West or Wall Street? [More with McGlinchey, Ep. 22]

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Every day, the mainstream media and social media are filled with references to cryptocurrency. Depending on who you ask, it’s either simply the next way to spend your money, or it’s a haven for criminal activity. In this...more

Nelson Mullins Riley & Scarborough LLP

Talking Custody of Digital Assets

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I had the pleasure of presenting at Bank Director Magazine's Inspired By Acquire or Be Acquired: What Officers and Directors Need to Know Now virtual conference, along with Rick Levin, earlier this month. Our...more

Latham & Watkins LLP

Crypto in the Crosshairs: What Regulatory Themes Characterized 2020?

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Throughout 2020, cryptocurrencies experienced incremental progress towards the mainstream as institutional investors and financial institutions made positive statements about the nascent asset class, an increasing number of...more

BakerHostetler

Traditional and Crypto Firms Across Globe Launch New Initiatives, UN Designs Blockchain Land Registry, Privacy Wallets Spark...

BakerHostetler on

Cryptocurrency Firms and Legacy Financial Institutions Worldwide Make Crypto Moves - Two cryptocurrency firms filed applications this week with the Office of the Comptroller of the Currency to become federally regulated banks...more

Perkins Coie

Blockchain Week in Review - January 2020 #3

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U.S. Developments - Federal and State Regulatory Developments - Bill in Hawaii State Senate Addresses Digital Assets Including Authorization for Banks to Serve as Qualified Custodians - SB 2594 before the Hawaii...more

Perkins Coie

Blockchain Week in Review - January 2020 #2

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U.S. Developments - U.S. Regulatory Developments - Bill Addressing Tax Treatment of Crypto Transactions Introduced to the House - On January 16, 2020, Congresswoman Suzan DelBene (WA) and Congressman David Schweikert...more

Orrick - On the Chain

Wyoming, the “Equality State,” Seeks to Level the Playing Field for Digital Assets Businesses

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In its continued effort to establish itself as the go-to jurisdiction for digital asset businesses, Wyoming, through its Department of Audit, Division of Banking, recently published a digital asset custody regime for its...more

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