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Virtual Currency › Proposed Legislation › Anti-Money Laundering

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

Troutman Pepper Locke

The GENIUS Act Advances in the Senate

Troutman Pepper Locke on

The U.S. Senate’s proposal to regulate stablecoins, known as the GENIUS Act, has successfully cleared a significant procedural hurdle, moving closer to a full floor debate. On May 19, lawmakers voted to invoke cloture on the...more

Katten Muchin Rosenman LLP

Bridging the Week - April 2019 #2

Katten Muchin Rosenman LLP on

The New York State Department of Financial Services cancelled the temporary authority of a major cryptocurrency exchange to operate in New York, saying its failure to meet anti-money laundering, AML compliance officer quality...more

Proskauer - Blockchain and the Law

State-Level Legislation Anticipates Wide-Spread Business Use of Blockchain

Proskauer - Blockchain and the Law on

On a daily basis, companies are announcing new developments on the adoption of blockchain in core business operations. However, many of these use cases present unique legal issues. In order to provide some clarity on some of...more

Goodwin

Financial Services Weekly News Roundup - May 2015 #2

Goodwin on

Senator Shelby Releases Discussion Draft of Financial Regulatory Bill. On May 12 Senator Richard Shelby, the Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, announced that the Committee had...more

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