News & Analysis as of

Virtual Currency › Enforcement Actions › Consumer Financial Products

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 -
Hudson Cook, LLP

"OVER THE LINE!"  Where Banking and Gaming Intersect, the CFPB Has Something to Say.

Hudson Cook, LLP on

The line between virtual and reality is getting thinner. Gamers pay gaming companies real currency for virtual in-game currency to buy skins, create the world they want to live in (virtually), or purchase loot that aid in...more

Orrick, Herrington & Sutcliffe LLP

Top 5 Takeaways from NYDFS $1.2 Million Fine in Cybersecurity Case

Orrick, Herrington & Sutcliffe LLP on

On May 1, the New York Department of Financial Services (“NYDFS” or “Department”) and a trading platform entered into a consent order to resolve deficiencies identified during examinations conducted in 2018 and 2020. The...more

Goodwin

Biden Administration Issues Regulatory Freeze On New Agency Rules

Goodwin on

In this Issue. In one of its first acts after being installed on January 20, the Biden Administration issued a regulatory freeze on new agency rules that have been adopted but are not yet effective; in one of its final acts...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Elon Musk had some explaining to do in light of his “funding secured” tweet on August 7 in the context of taking Tesla private, and he’s gone to the corporate blog to do so, arguing that his meetings with representatives of...more

Proskauer - Blockchain and the Law

CFTC Releases Chairman Statement and Backgrounder on Virtual Currencies

Proskauer - Blockchain and the Law on

The Commodity Futures Trading Commission (CFTC or Commission) Chairman J. Christopher Giancarlo issued a statement this week on virtual currencies. The CFTC also released a backgrounder on its oversight of and approach to...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The SEC is blocking the proposed sale of the Chicago Mercantile Exchange to a group of Chinese investors based on “unresolved questions” over the “proposed ownership structure and concerns for the regulatory agency’s ability...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

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SEC Division of Investment Management Letter on Cryptocurrency Related Investment Products; Joint Statement by SEC and CFTC Enforcement Directors Regarding Virtual Currency Enforcement Actions - On January 18, 2018, in a...more

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