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Virtual Currency › Cryptocurrency › Banking Sector

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 -
Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, October 2024

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Key developments of interest over the last month include: the UK FCA publishing a consultation on two-stage reforms to the payments and e-money safeguarding regime; the U.S. Consumer Financial Protection Bureau announcing a...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, September 2024

Hogan Lovells on

Key developments of interest over the last month include: the UK Payment Systems Regulator publishing a policy statement on directing APP scams reimbursement for CHAPS payments and final guidance on distinguishing between APP...more

Wilson Sonsini Goodrich & Rosati

Focus on Fintech – Q1 2024

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In this latest edition, our attorneys discuss updates and developments from federal regulators, including those related to the intersection of fintech and artificial intelligence, cryptocurrency and virtual currency updates,...more

American Conference Institute (ACI)

[Event] 24th National Forum on Prepaid Accounts Compliance - April 8th, New York, NY

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The 24th National Forum on Prepaid Accounts Compliance will address the latest developments impacting the prepaid industry and provide answers to the most pressing questions and challenges being faced by practitioners in this...more

Brownstein Hyatt Farber Schreck

Crypto Policy Questions Linger Weeks After Historic Banking Crisis

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The crypto industry is at a critical juncture: As it continues to operate absent clear regulatory guidance (other than by enforcement) and prospects dim for legislation that would create a roadmap for regulation—the...more

Alston & Bird

New York State Department of Financial Services Outlines Prior Approval Process for Virtual Currency-Related Activity

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The New York State Department of Financial Services has issued an industry letter detailing the prior approval process for all New York banking organizations seeking to engage in new or significantly different virtual...more

McGlinchey Stafford

Video: Introduction A Deep Dive into DeFi Decentralized Finance

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The world of decentralized finance, blockchains, virtual and cryptocurrency have grown exponentially in recent years. Many financial institutions are looking to enter or expand their operations in the digital economy, but the...more

Oberheiden P.C.

What Institutional Bankers Should Know About Cryptocurrency and Anti-Money Laundering Laws

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For all of its upheaval, cryptocurrency seems like it is here to stay. This presents virtual currency businesses and institutional bankers with a dilemma: Do they capitalize on the increasingly powerful trend, or do they wait...more

BakerHostetler

New NFT Initiatives Launch Across Industries; Banking Agencies Publish Crypto Guidance; Enforcement Agencies Bring Crypto Actions;...

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New NFT Initiatives Announced in Jewelry, Automobile and Liquor Industries - A U.S. luxury jeweler has reportedly partnered with the popular NFT (non-fungible tokens) collection CryptoPunk to transform the digital...more

Robinson+Cole Data Privacy + Security Insider

Privacy Tip #337 - FBI Issues Warning About Cryptocurrency Apps

Robinson+Cole Data Privacy + Security Insider on

On July 18, 2022, the FBI issued an Alert advising consumers that fraudulent cryptocurrency apps have caused more than 244 victims to lose nearly $43 million. The fraudulent apps that cyber criminals used to steal funds...more

Wilson Sonsini Goodrich & Rosati

Focus on Fintech - Wilson Sonsini Quarterly Fintech Update - July 2022

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Welcome to Wilson Sonsini’s Focus on Fintech quarterly newsletter. This quarterly newsletter provides ongoing analysis and commentary on regulatory developments impacting the fintech industry....more

Barnea Jaffa Lande & Co.

Bank of Israel Continues to Regulate Use of Cryptocurrencies

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Israel’s financial regulatory authorities are regulating virtual currencies (cryptographic currencies) due to their steady increase in use. For example, the Capital Market, Insurance and Savings Authority (CMISA) issued an...more

Alston & Bird

U.S. Government Steps Up Its Enforcement in the Digital Assets Space

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Our Blockchain & Digital Assets Team offers a snapshot sample of significant recent developments by a panoply of federal agencies and departments that represent the expanding array of enforcement tools used by federal...more

Skadden, Arps, Slate, Meagher & Flom LLP

NY Department of Financial Services Outlines How Blockchain Analytics Should Be Used for Compliance

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On April 28, 2022, the New York State Department of Financial Services (DFS) issued guidance on the use of blockchain analytics for virtual currency businesses licensed under 23 NYCRR part 200 (also known as a BitLicense) or...more

A&O Shearman

OCC Issues Consent Order Against A Digital Bank

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On April 21, 2022, the Office of the Comptroller of the Currency (OCC) issued a consent order against Anchorage Digital Bank, a digital asset bank based in South Dakota. Notably, Anchorage had previously become the first...more

Orrick - On the Chain

With Regulation on the Rise, Congressional Blockchain Caucus Steps Up to Test SEC’s Approach

Orrick - On the Chain on

Coming quickly on the heels of the Biden Administration’s Executive Order on Digital Assets, the Congressional Blockchain Caucus has signaled it will be watching new regulation closely in line with their belief in a “light...more

BakerHostetler

[Podcast] Blockchain University: Relationship Drama: Cryptocurrencies, Blockchain and the Law

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Our fifth episode provides an overview of the key legal issues facing cryptocurrencies and blockchain in the U.S....more

Sheppard Mullin Richter & Hampton LLP

Virginia Approves Bill Allowing Banks to Offer Cryptocurrency Custody Services

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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

Goodwin

Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit

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IN THIS ISSUE - Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit; Federal Court of Appeals Dismisses Leading Fannie Mae and Freddie Mac Shareholder Lawsuits; NY Seeks Blockchain...more

Nelson Mullins Riley & Scarborough LLP

[Webinar] FinTech University: Central Bank Digital Currencies - January 11th, 3:00 pm - 4:00 pm EST

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Join Richard Levin and Kevin Tran for the next edition of the FinTech University series, focusing on Current Bank Digital Currencies, with 10 minutes of Q&A....more

BakerHostetler

Financial Firms Plan Decentralized Exchange, Launch Digital Bond; NFTs Launch in Sports, Fashion; Blockchain Tracing Solutions...

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US and Swiss Financial Firms Announce Decentralized Exchange, Digital Bond - A major U.S. fintech and digital payments company recently released a white paper detailing tbDEX, a new decentralized protocol for exchanging...more

Sheppard Mullin Richter & Hampton LLP

OCC Chief Counsel Clarifies Bank Authority to Engage in Crypto

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On November 18, the Chief Counsel of the Office of the Comptroller of the Currency (OCC) issued a fourth interpretive letter (Letter 1179) regarding whether it is permissible for national banks and federal savings...more

Troutman Pepper

The Rise of Cryptocurrency for Banks

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On July 22, 2020, the Office of the Comptroller of the Currency (the OCC) confirmed in Interpretive Letter #1170 the authority of a national bank to provide cryptocurrency custody services. Since that time, the OCC has issued...more

McGlinchey Stafford

Cryptocurrency: Wild West or Wall Street? [More with McGlinchey, Ep. 22]

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Every day, the mainstream media and social media are filled with references to cryptocurrency. Depending on who you ask, it’s either simply the next way to spend your money, or it’s a haven for criminal activity. In this...more

The Volkov Law Group

The New York Attorney General’s Office Reaches Settlement with Bitfinex and Tether

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In late February, the New York Attorney General’s office (“NYAG”) settled with Bitfinex and Tether stemming from charges relating to financial mismanagement.  The NYAG alleged that Bitfinex and Tether attempted to cover up...more

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