News & Analysis as of July 18, 2025

Virtual Currency › State Legislatures

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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 -

United States: The Continuing Shift to Modern Money Transmission Laws

K&L Gates LLP on 5/13/2025

Within the past two months, three states have adopted the Money Transmission Modernization Act (MTMA). The governors of Virginia, Mississippi, and most recently Colorado, signed bills that implement the MTMA, and two other...more

Wyoming to issue stable tokens

Orrick, Herrington & Sutcliffe LLP on 4/3/2023

On March 17, the Wyoming governor signed SF 127 enacting the Wyoming Stable Token Act, creating the Wyoming stable token commission, and authorizing the issuance of stable tokens in the state. ...more

Blockchain Week in Review: October 2020

Perkins Coie on 10/30/2020

U.S. Developments - Kik & SEC Agree to $5M Judgment - On October 20, 2020, Canadian messaging company Kik Interactive Inc. (Kik) and the U.S. Securities and Exchange Commission (SEC) agreed to resolve an ongoing enforcement...more

Legislator Proposes Enactment Of The Uniform Regulation of Virtual Currency Businesses Act

Allen Matkins on 3/1/2019

Last month, California joined Hawaii, Nevada and Oklahoma in considering enactment of the Uniform Law Commission's Uniform Regulation of Virtual Currency Businesses Act. California's bill, AB 1489, was introduced by Assembly...more

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts

Skadden, Arps, Slate, Meagher & Flom LLP on 10/16/2018

This is the inaugural issue of The Distributed Ledger, a periodic publication covering the latest trends and developments in blockchain technology, digital assets and smart contracts. In this edition, we examine a federal...more

Legislative Update: Uniform Regulation of Virtual-Currency Business Act

Burr & Forman on 9/10/2018

Last October, the Uniform Law Commission released the Uniform Regulation of Virtual-Currency Business Act (VCBA), which sets forth extensive requirements applicable to persons or entities who engage in virtual currency...more

Retaining North Carolina's Booming Virtual Currency Industry

Ward and Smith, P.A. on 6/27/2018

North Carolina rightfully regards itself as a leader in innovation and as a hub for technology—it hosts Research Triangle Park and world-renowned universities, and according to the NCTech’s 2018 State of Technology Industry...more

A Proposed Statutory Framework for State Regulation of Virtual Currency Businesses: The Uniform Law Commission’s “Uniform...

Proskauer - Blockchain and the Law on 4/5/2018

Last July, the Uniform Law Commission completed a uniform model state law, known as the Uniform Regulation of Virtual-Currency Businesses Act (“URVCBA” or the “Act”) (Steve Weise participated in the preparation of the Act)....more

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

Proskauer - Blockchain and the Law on 2/12/2018

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

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Virtual Currency › State Legislatures

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