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Digital Currency Regulatory Agenda Virtual Currency

Shipkevich PLLC

Vermont and Pennsylvania Embrace Virtual Currency Regulation

Shipkevich PLLC on

In a continuing trend across U.S. states, Vermont and Pennsylvania have shown their intent to establish more oversight over the digital currency sector. New legislative amendments to Vermont’s financial services laws include...more

McDermott Will & Emery

Bitcoin-Halving steht vor der Tür

McDermott Will & Emery on

Nach der Zulassung von Krypto-ETF in den USA steht mit dem für Mitte April 2024 erwarteten Bitcoin-Halving demnächst ein weiteres Fundamental-Ereignis für die Krypto-Branche vor der Tür. Die Zulassung sogenannter Bitcoin-Spot...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 25: Virtual Currencies: Exploring the Regulatory Landscape with Jerry Comizio

Jerry Comizio joins RegFi cohosts Jerry Buckley and Sherry Safchuk for a conversation about the intricate world of virtual currencies. Professor Comizio is Associate Director of the Business Law Program at American...more

WilmerHale

Key Points From NY Regulators' Crypto Listing Update

WilmerHale on

On Sept. 18, the New York State Department of Financial Services issued proposed guidance for companies holding virtual currency business licenses and limited-purpose trust companies — collectively referred to as virtual...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

Cadwalader, Wickersham & Taft LLP

The Crypto Industry Is Talking Tax, and the Senate Is Listening

On June 7, 2022, U.S. Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) introduced the Lummis-Gillibrand Responsible Financial Innovation Act (the “Act”), a comprehensive legislative scheme for the regulation of...more

Kilpatrick

Digital Assets Regulation Framework - Commerce Solicits Public Comment

Kilpatrick on

On May 19, 2022, the U.S. Department of Commerce (Commerce) published a Request for Comment titled “Developing a Framework on Competitiveness of Digital Asset Technologies” (Request for Comment). Digital assets, in this...more

Dechert LLP

Not So Stable: Stablecoin Volatility Causing Turmoil in Crypto Markets

Dechert LLP on

Introduction - Cryptocurrencies have surged in popularity in recent years. As we have reported in recent OnPoints, the swift growth and adoption of cryptocurrencies raise legal questions about everything from their...more

Nelson Mullins Riley & Scarborough LLP

SEC Targets Companies Conducting Cryptomining

The SEC recently doubled the size of its Crypto Assets and Cyber Unit.  Since its inception in 2017, the SEC’s Crypto Assets and Cyber Unit has launched more than 80 investigations resulting in over $2 billion in monetary...more

Jones Day

California Governor Orders Agencies to Create Transparent Regulatory Framework for Blockchain and Digital Assets

Jones Day on

California's governor issued an executive order requiring state agencies, led by the Department of Financial Protection and Innovation, to create a "transparent" regulatory framework for blockchain technologies and digital...more

Eversheds Sutherland (US) LLP

Federal Reserve explores benefits and risks of potential US Central Bank Digital Currency while the Biden Administration issues...

In January of this year, the Board of Governors of the Federal Reserve System issued a research and analysis paper titled Money and Payments: The US Dollar in the Age of Digital Transformation, in which the Fed...more

Skadden, Arps, Slate, Meagher & Flom LLP

Toomey Introduces Proposal for Payment Stablecoin Regulatory Framework ...

On April 6, 2022, Sen. Pat Toomey (R-Pa.), the ranking member of the Senate Banking Committee, and an advocate for clarity in cryptocurrency regulations, released a discussion draft of legislation that would provide a...more

Cadwalader, Wickersham & Taft LLP

The UK’s Plan to Become a Global Crypto Hub

On April 4, 2022, the UK government announced plans to become a “global hub” for the cryptoasset industry with proposals for the regulation of stablecoins, development of an NFT (non-fungible token) issued by the Royal Mint,...more

Sheppard Mullin Richter & Hampton LLP

President Biden Signs Executive Order Outlining Crypto Policy

On March 9, President Biden signed a highly anticipated executive order outlining his administration’s cryptocurrency policy. We have previously blogged about the Biden administration’s working group on stablecoins and the...more

Proskauer - Blockchain and the Law

Congress and the IRS Make Moves to Improve Taxpayer Compliance for Cryptocurrency Transactions

IRS Commissioner Charles Rettig, testifying before Congress in April 2021, estimated the gap between taxes owed and taxes collected in the United States to be close to $1 trillion....more

Akin Gump Strauss Hauer & Feld LLP

Cryptocurrency Congressional Activity Watch

As the 117th Congress moves into 2022, cryptocurrency and digital assets will continue to be an area of intense focus and discussion for both Democrats and Republicans. Member interest continues to grow in this space, with...more

Hogan Lovells

Central bank digital currencies – the end of money as we know it?

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Retail Central Bank Digital Currencies or “CBDCs” are hot right now with estimates that as many as 80% of the world’s central banks are engaged in pilots or other activities. The Bank of England, the European Central Bank...more

Kohrman Jackson & Krantz LLP

Regulating Crypto: Cryptocurrency Executives Head to Capitol Hill

A recent study found that 16 percent of Americans have invested in, traded or used cryptocurrencies such as Bitcoin and Ether. This widespread use, coupled with the cryptocurrency industry having limited to no regulatory...more

Proskauer - Blockchain and the Law

Ringing in the New Year: Regulators and Industry Seek to Bring Stability to Stablecoins in 2022. How (Much), Remains a Question.

On December 17, 2021, the Financial Stability Oversight Council (“FSOC”) – a collaborative body formed under the Dodd-Frank Act composed of state and federal regulators and tasked with identifying risks and responding to...more

Mayer Brown Free Writings + Perspectives

US Financial Regulators Release Much-Anticipated Report on Stablecoins

On November 1, 2021, the President’s Working Group on Financial Markets (PWG) released its much-anticipated Report on Stablecoins (Report). The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of...more

Proskauer - Blockchain and the Law

Treasury Department Steps Up Its Counter-Ransomware Efforts and Simultaneously Issues New Sanctions Compliance Guidance for...

Recently, the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Treasury Department, released a report on ransomware trends stating that during the first half of 2021, 68 different ransomware variants...more

Burr & Forman

Tuesday’s Rising Regulatory Chorus On Crypto

Burr & Forman on

This past Tuesday, September 21, the chorus calling for more regulation over crypto reached a sort of crescendo. The SEC - Earlier, in September 14 testimony before the Senate Banking Committee [1], former CFTC and current...more

Hogan Lovells

Global Payments Newsletter, June 2021

Hogan Lovells on

Key developments of interest over the last month include:  Hong Kong: FSTB publishes consultation conclusions on virtual asset services providers licensing regime Europe: European Commission publishes proposal for Regulation...more

Morgan Lewis

What 2021 Has in Store for Stablecoin

Morgan Lewis on

The year 2020 won’t soon be forgotten. Despite the challenges that the COVID-19 pandemic presented on a global scale, 2020 ushered in new ways of thinking about stablecoin, a type of cryptocurrency that attempts to peg its...more

Orrick - On the Chain

Power of the Peirce: SEC Commissioner Spends Some of Her Influence on Trying to Help Crypto Network Developers

Orrick - On the Chain on

SEC Commissioner Hester Peirce continues to be one of the most vocal persons in leadership positions at federal regulators who are promoting innovation in digital currency and the blockchain....more

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