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Virtual Currency › State and Local Government › New Legislation

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 -
Orrick, Herrington & Sutcliffe LLP

Connecticut provides new laws for seizure and forfeiture of virtual currency and virtual currency wallets

Orrick, Herrington & Sutcliffe LLP on

On June 23, the governor of Connecticut approved SB 6990 to establish new laws and amend existing ones regarding the seizure and forfeiture of virtual currency and virtual currency wallets in Connecticut. The new law states...more

Jenner & Block

Client Alert: California Enters the Arena of Virtual Currency Regulation

Jenner & Block on

After prolonged deliberation, California has finally decided to enter the virtual currency regulatory arena by adopting two virtual currency regulatory bills into law. The California Digital Financial Assets Law (“DFAL”),...more

Sheppard Mullin Richter & Hampton LLP

Virginia Approves Bill Allowing Banks to Offer Cryptocurrency Custody Services

Sheppard Mullin Richter & Hampton LLP on

On March 3, Virginia passed a new bill (HB 263) permitting banks in the Commonwealth to provide its customers with crypto custody services “so long as the bank has adequate protocols in place to effectively manage risks and...more

McGlinchey Stafford

Louisiana to Require Virtual Currency Business License

McGlinchey Stafford on

The Louisiana Office of Financial Institutions (OFI) will require virtual currency businesses to hold a license, though the license application may not be available until 2021.[1] The Louisiana Virtual Currency Businesses...more

Perkins Coie

Blockchain Week in Review - January 2019 #3

Perkins Coie on

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

Carlton Fields

State Regulations on Virtual Currency and Blockchain Technologies (Updated)

Carlton Fields on

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

Robinson+Cole Data Privacy + Security Insider

States Race To Embrace Blockchain Technology

Robinson+Cole Data Privacy + Security Insider on

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

Blank Rome LLP

Vermont Passes New Blockchain Legislation

Blank Rome LLP on

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

K&L Gates LLP

Understanding the Effect of Wyoming’s Blockchain and Cryptocurrency Legislation

K&L Gates LLP on

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

Carlton Fields

State Regulations On Virtual Currency And Blockchain Technologies

Carlton Fields on

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

Perkins Coie

Blockchain Week in Review – April 2017 #3

Perkins Coie on

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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