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Virtual Currency › Bankruptcy Court

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 -
Morris James LLP

Bankruptcy Courts' Role In Shaping Crypto's Legal Framework

Morris James LLP on

Cryptocurrency is in the media's spotlight and the U.S. Securities and Exchange Commission's crosshairs. After the spectacular demise of FTX Trading Ltd. and other cryptocurrency companies, customers and creditors were left...more

Shipkevich PLLC

Michigan Suspends FTX Lend Money Transmitter License and Orders FTX US License as Expired

Shipkevich PLLC on

On January 10, 2023 by the Michigan Department of Insurance and Financial Services (DIFS), issued an order regarding two companies, West Realm Shires Services, Inc. dba FTX US (“FTX US”) and FTX Lend Inc. Both companies are...more

Tonkon Torp LLP

Who Owns Custodied Crypto Assets? A New Bankruptcy Court Ruling Amplifies Concerns

Tonkon Torp LLP on

As we first warned last summer, crypto property held in a custodian-controlled account could become the property of that custodian in the case of a bankruptcy filing. At the time, we recommended that crypto investors avoid...more

Perkins Coie

Voyager, Celsius, and Possible Bidding Opportunities

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The Voyager Digital Holdings bankruptcy cases, along with the Celsius Network cases, provide a unique opportunity for parties to acquire assets and/or operations of each company. The bankruptcy court approved bidding...more

BakerHostetler

Virtual Currency Guidelines

BakerHostetler on

Despite growing pains, digital currencies and blockchain may be the future of payments and global finance. As with any disruptive technology that gains popularity quickly, building the legal framework to support it is...more

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