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Virtual Currency › Department of Banking and Securities

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 -
McGlinchey Stafford

Pennsylvania Quietly Reinterprets Current Law to Regulate Virtual Currency as “Money” Under the Money Transmitter Act

McGlinchey Stafford on

In February 2019, the Pennsylvania Department of Banking and Securities (DoBS) issued public guidance on the applicability of the Money Transmitter Act (MTA) to virtual currency exchanges by means of a link entitled “Money...more

Manatt, Phelps & Phillips, LLP

Pennsylvania Joins Other States With Guidance on Virtual Currency

Manatt, Phelps & Phillips, LLP on

Is virtual currency “money” for purposes of the Pennsylvania Money Transmitter Act? Not according to recently issued guidance from the Pennsylvania Department of Banking and Securities (DoBS), which has joined a growing...more

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