News & Analysis as of August 21, 2025

Virtual Currency › Investment Funds

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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 -

Key Considerations for the Prospective Blockchain Investor

Mintz Edge on 2/10/2025

Prospective purchasers of blockchain assets can now navigate through global exchanges (i.e., Coinbase or Kraken) to invest in various forms of tokens. Investments in tokens, however, are only the tip of the iceberg for those...more

GLI Cayman Islands blockchain and cryptocurrency regulation 2025, seventh edition

Carey Olsen on 1/7/2025

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

A guide to blockchain and cryptocurrency regulation 2024: Cayman Islands (GLI chapter)

Carey Olsen on 11/22/2024

Chris Duncan and Alistair Russell have authored the Cayman Islands chapter of Global Legal Insight's sixth edition guide to blockchain and cryptocurrency regulation. The chapter covers the Cayman legal requirements relating...more

California Enacts Landmark Crypto Licensing Law

K&L Gates LLP on 10/18/2023

To date, crypto companies have been able to operate in California without a license, but that will change effective July 2025 under the state’s newly-enacted “Digital Financial Assets Law” (the Law), signed by Governor Newsom...more

Michigan man sentenced to prison and ordered to repay $210,000 in crypto scam

Hogan Lovells on 2/10/2020

A man from Michigan has been ordered to repay about $210,000 for his role in a cryptocurrency scam. The fraudster solicited investments from two people, promising them large returns, but he used the investment proceeds to buy...more

Hong Kong’s SFC Issues Significant Announcements on the Regulation of Virtual Assets

Latham & Watkins LLP on 11/6/2018

The SFC has outlined its regulatory approach to the management and distribution of virtual asset funds and virtual asset exchanges. Key Points: ..Investor protection is paramount and the SFC is taking steps to tighten...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 6/8/2018

U.S. Financial Industry Developments - Economic Growth, Regulatory Relief and Consumer Protection Act - The "Economic Growth, Regulatory Relief and Consumer Protection Act," signed by the President on May 24, amends...more

SEC Sidelines Funds Focused on Cryptocurrencies

Carlton Fields on 4/11/2018

In a January 18 letter to two of the fund industry’s leading advocacy groups, the staff of the SEC’s Division of Investment Management advised fund sponsors not to initiate registration of funds that intend to invest...more

SEC, FINRA Target ICOs, Cybersecurity, Secondary Market Trading in 2018 Examination Priorities

Herbert Smith Freehills Kramer on 3/2/2018

Both the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) recently released their respective 2018 examination priorities, providing a glimpse into their plans for the year to...more

Funds Talk: February 2018

Herbert Smith Freehills Kramer on 2/2/2018

Global Regulators Increasingly Shifting Focus to Cryptocurrency - After years of allowing cryptocurrency transactions to fly under the radar, financial market regulators are beginning to turn their attention to virtual...more

Global Regulators Increasingly Shifting Focus to Cryptocurrency

Herbert Smith Freehills Kramer on 2/1/2018

Until recently, cryptocurrencies had largely avoided the regulatory spotlight. While financial market regulators monitored the emerging sector, they largely maintained a hands-off approach as it remained on the periphery of...more

SEC Cyber Unit Increases Efforts to Regulate Crypto-Currency

Nossaman LLP on 1/10/2018

Based on how 2017 ended, entities and individuals in the crypto-currency markets should expect increased scrutiny from the United States Securities and Exchange Commission (“SEC”) in 2018. The SEC’s Cyber Unit commenced its...more

Bitcoin and Blockchain: Certain U.S. Regulatory Considerations for Investment Managers

Winstead PC on 9/1/2017

Bitcoin is the first blockchain or distributed ledger technology (“DLT”) to successfully solve a problem succinctly described by Marc Andreessen: “Bitcoin gives us, for the first time, a way for one Internet user to transfer...more

Resources on Crypto-Tokens and Securities Law

Perkins Coie on 6/5/2017

The following resources take a deep dive into the issues surrounding crypto-tokens and securities law and recognize that, when properly designed, some tokens may not meet the Howey test...more

Expect the Unexpected: The Year Ahead for the Financial Institutions Sector

Hogan Lovells on 1/13/2017

With contributors across the sector and the globe, we've compiled a review of some of the developments that will affect financial institutions in 2017 and beyond. The one thing that 2016 taught us was to expect the...more

IRS Releases Bitcoin Guidance; May Have A Chilling Effect On Virtual Currency

Blank Rome LLP on 4/1/2014

Last week, the IRS released IRS Notice 2014-21 (the “Notice”), its first guidance on the income tax treatment of virtual currency, including, bitcoin. A copy of the notice can be obtained at...more

Virtual Reality: IRS Provides Guidance on the Treatment of Bitcoin and Other Virtual Currency Transactions

Eversheds Sutherland (US) LLP on 4/1/2014

On March 25, 2014, the Internal Revenue Service (IRS) issued Notice 2014-21 (the Notice), which provides guidance regarding the tax treatment of Bitcoins and other virtual currency through a series of “frequently asked...more

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Virtual Currency › Investment Funds

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