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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... 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 -
Troutman Pepper Locke

The GENIUS Act: What Is It and What’s Next?

Troutman Pepper Locke on

On June 17, the U.S. Senate voted 68-30 to pass S.1582, the Guiding and Establishing National Innovation for U.S. Stablecoins Act, known as the GENIUS Act (the Act). This represents a landmark effort by the U.S. Congress to...more

White & Case LLP

The crypto question: Digital currency dealmaking set to boom in 2025

White & Case LLP on

Dealmaking within the US and Europe is climbing as crypto assets increasingly enter the mainstream - Dealmaking in the digital currency space is flourishing, buoyed by strong industry growth, political backing and supportive...more

Carey Olsen

GLI Cayman Islands blockchain and cryptocurrency regulation 2025, seventh edition

Carey Olsen on

Regulatory clarity in the digital assets and crypto space continues to be a moving target. Yet, the interest among policymakers and regulators worldwide has never been more pronounced. In the United States, 2024 was a pivotal...more

Davis Wright Tremaine LLP

National Trust Banks – Revisited for Crypto and Payments

Davis Wright Tremaine LLP on

In the absence of modern charters and licenses, payments companies and other fintechs—both established financial services providers and new market entrants—must generally obtain 50+ money transmitter and possibly other state...more

Conyers

International Sanctions Requirements for Virtual Asset Service Providers: a Cayman Perspective

Conyers on

As the war continues to rage on the Eastern front between Russia and Ukraine, the financial sanctions resulting from the initial invasions and ongoing conflict seem likely to continue to play a significant part in the global...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

Hogan Lovells

Key Takeaways from the BIS Innovation Summit 2024

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The BIS Innovation Summit 2024, which took place over 6-8 May 2024, was in turns both an inspiring and surprising event. This article sets out a summary of the key takeaways from the summit....more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, August 2023

Hogan Lovells on

Key developments of interest over the last month include: Germany’s Ministry of Finance asking industry groups for feedback on the EU PSD3/PSR legislative proposals; the UK Payment Systems Regulator consulting on the consumer...more

Orrick, Herrington & Sutcliffe LLP

NYDFS, crypto payment service provider resolve AML/cybersecurity violations

Orrick, Herrington & Sutcliffe LLP on

On March 16, NYDFS issued a consent order against a payment service provider for allegedly failing to comply with the state’s virtual currency and cybersecurity regulations. The company was licensed to engage in virtual...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts

Skadden, Arps, Slate, Meagher & Flom LLP on

A flurry of legal and enforcement activity has arisen over the last two weeks across a wide range of areas in the Web3 space, including actions by the Securities and Exchange Commission, the Office of Foreign Assets Control,...more

BakerHostetler

New Crypto Products Launch, Draft Digital Assets Bill Released, Regulators Address Stablecoins, DOJ Publishes Crypto Report, Hacks...

BakerHostetler on

Fintech and Crypto Firms Announce Myriad New Crypto Product Launches - This week, a major global payments firm announced the launch of a stablecoin settlement solution that leverages technology by Fireblocks, a digital...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

Patterson Belknap Webb & Tyler LLP

A Brief Overview of the SEC’s Guidance on Cryptocurrencies in the Context of the Commission’s Enforcement Action Against Ripple...

Patterson Belknap Webb & Tyler LLP on

A key question for any company considering the issuance of cryptocurrency is whether that digital asset will be treated by regulators as a security, like BP stock, or a commodity, like Bitcoin.  In 2019, the Securities and...more

Orrick - On the Chain

2022 Is the Year of Sweeping Changes for Cryptocurrency and Other Digital Asset Transfers

Orrick - On the Chain on

What to look out for in the proposed new Chapter 12 of the Uniform Commercial Code (UCC) The world of cryptocurrencies and other forms of digital assets (such as non-fungible tokens) is exploding. While Bitcoin is the...more

BakerHostetler

Banks to Use Blockchain for FX; Avalanche Adds USDC; NFT Boom Continues; Regulators Address Crypto Ads, Derivatives; Reports...

BakerHostetler on

Banks to Use Blockchain for FX Settlement, Avalanche Network Adds USDC - In a recent press release, two major banks announced an agreement to implement a new blockchain-based solution for the netting and settlement of matched...more

BakerHostetler

US Financial Services Firms Announce Crypto Initiatives; Crypto Firms Pursue LATAM Market; Products Launch in DAOs, NFTs; Exchange...

BakerHostetler on

Multiple US Financial Services Firms Announce Cryptocurrency Initiatives - This week a major U.S. financial services firm announced the launch of a “Crypto Advisory Practice” that will leverage the firm’s work “with more than...more

BakerHostetler

Crypto Adoption and AML Reports Published, NFT Market Growth Continues, Blockchain Cobalt Pilot Progresses, Crypto Exchange and...

BakerHostetler on

Crypto Adoption Index Published, Regulators Address Crypto Across Globe - The 2021 Chainalysis Global Crypto Adoption Index was published on Wednesday, providing an in-depth review of cryptocurrency adoption around the...more

Orrick, Herrington & Sutcliffe LLP

Off‐Shore Crypto Exchange to Pay Up to $100 Million to Resolve Enforcement Action with U.S. Regulators

Orrick, Herrington & Sutcliffe LLP on

The Financial Crimes Enforcement Network (FinCEN) and the Commodity Futures Trading Commission (CFTC) reached one of the largest-ever resolutions with a cryptocurrency exchange on August 10, 2021. BitMEX is virtual currency...more

Amundsen Davis LLC

Ripple Effect: SEC Lawsuit against Cryptocurrency Company May Provide Guidance For Crypto Industry

Amundsen Davis LLC on

On December 21, 2020, the Securities and Exchange Commission (SEC) filed a high-profile enforcement action against a major cryptocurrency company. The SEC complaint alleges violations of federal securities laws by defendant...more

K2 Integrity

The Biden Administration, Cryptocurrency, and FinTech

K2 Integrity on

Cryptocurrency Landscape - Virtual currency is not just here, it’s hot. The asset class seems to have no boundaries; a recent rise has pushed the market value of bitcoin alone to $1 trillion. ...more

Latham & Watkins LLP

Crypto in the Crosshairs: What Regulatory Themes Characterized 2020?

Latham & Watkins LLP on

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

Morgan Lewis

FinCEN Proposes Crypto Reporting and Recordkeeping Requirements

Morgan Lewis on

Recently proposed regulations could present significant compliance burdens for the banks and money service businesses that engage in cryptocurrency transactions with unhosted wallets or wallets held in jurisdictions specified...more

Polsinelli

Blockchain Litigation Year in Review (Part 1): Lessons From 2019 And What’s Ahead For 2020

Polsinelli on

When is a digital asset a security or a commodity? Are SAFTs safe? Does hyping blockchain create an expectation of profit? Is blockchain a trademark, trade secret or neither? Are free tokens tax-free? Who is Satoshi Nakamoto?...more

Polsinelli

BitBlog Bi-Weekly Update - February 2020

Polsinelli on

Many crypto entrepreneurs are seeking to build decentralized networks in which a token serves as a means of exchange on, or provides access to a function of the network.  In the course of building out the network, they need...more

Perkins Coie

Blockchain Week in Review - January 2020 #2

Perkins Coie on

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

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