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Virtual Currency › European Union › Cryptocurrency

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 -
A&O Shearman

Amendments to Luxembourg laws to implement MiCAR and TFR: key takeaways and impact on VASPs

A&O Shearman on

On 21 May 2024, a bill of law n° 8387 was introduced before the Luxembourg Parliament. Its objective is to amend several pieces of Luxembourg legislation to operationalise various European regulations, in particular...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

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, February 2024

Hogan Lovells on

Key developments of interest over the last month include: the European Parliament’s ECON Committee adopting draft reports on the European Commission’s PSR and PSD3 legislative proposals; ESMA consulting on 'reverse...more

A&O Shearman

Investigations update: Hong Kong authorities ramp up enforcement in virtual assets and other sectors

A&O Shearman on

Hong Kong has seen cryptocurrencies grow in popularity, highlighting the need for appropriate licensing regimes (implemented in the form of virtual asset service providers (VASPs)), bolstered by active enforcement actions. ...more

A&O Shearman

MiCAR under the microscope - Part 3: The issuance of stablecoins under MiCAR: Scope and requirements

A&O Shearman on

The huge expansion of crypto-assets over recent years and the popularity of their underlying technology (distributed ledger technology (DLT) or blockchain) have come with their share of challenges, including a significant...more

Walkers

Regulation of virtual asset service providers (VASPs) in Guernsey

Walkers on

This briefing is the fourth in a series of briefings by Walkers on the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the "LCFL"), and provides an overview of the licensing regime applicable to Virtual Asset...more

Skadden, Arps, Slate, Meagher & Flom LLP

In the First Use of Its Section 9714 Powers, the U.S. Treasury Designated Bitzlato as a Russian-Linked Primary Money Laundering...

Skadden, Arps, Slate, Meagher & Flom LLP on

On January 17, 2023, U.S. law enforcement authorities in Miami arrested Anatoly Legkodymov, a Russian national and the founder and majority owner of Hong Kong-based virtual currency exchange Bitzlato Ltd., on charges of money...more

American Conference Institute (ACI)

[Event] 16th Annual Flagship Conference on U.S. Economic Sanctions Enforcement and Compliance - May 5th - 6th, Washington, DC

American Conference Institute (ACI) on

ACI’s Annual Flagship Conference on Economic Sanctions Enforcement and Compliance is widely regarded as the premier conference designed for those working in global sanctions compliance, internal audits and investigations,...more

Perkins Coie

Blockchain Week in Review - March 2022 #2

Perkins Coie on

Zelenskyy Signs Virtual Assets Bill Into Law, Legalizing Crypto in Ukraine - On March 16, Ukrainian President Volodymyr Zelenskyy signed the Law on Virtual Assets. According to a statement by the Ministry of Digital...more

Jones Day

Breakthrough in Italian Cryptocurrency Regulation: Statutory Registration for Providers and Exchangers

Jones Day on

The Italian Ministry of Economy and Finance ("MEF") issued a new decree ("Decree") requiring that virtual asset/currency service providers promptly enroll in a soon-to-be established special section of the register held by...more

Perkins Coie

Virtual Currency Legal Report: Week of January 7, 2022

Perkins Coie on

U.S. Congress to Hold Oversight Hearing on the Mining of Cryptocurrency - NY DFS to Hire New Deputy Superintendent - Recent Federal Regulator Announcements Signal Changes in Senior Leadership at the SEC, CFTC, and FDIC...more

Hogan Lovells

The digital Euro - taking shape in 2022

Hogan Lovells on

The European Central Bank (ECB) has just kicked off an “investigation phase” to explore different options for the digital Euro. This phase of detailed consideration for a European version of a Central Bank Digital Currency...more

White & Case LLP

Spain enacts first legislation to regulate cryptocurrencies

White & Case LLP on

On 21 October this year, the Bank of Spain created the registry where service providers for both the exchange of virtual currency for fiat currency and the custody of electronic wallets must register, as a result of the...more

Perkins Coie

Blockchain Week in Review - March 2021 #3

Perkins Coie on

US Regulatory Developments BitMEX CEO to Surrender on AML Charges BitMEX’s founder and former CEO, Arthur Hayes, reached an agreement with U.S. officials to surrender to federal charges. On October 1, 2020, the U.S....more

Orrick - On the Chain

The SEC Sends a Telegram to European Token Offerings: Avoid the U.S.

Orrick - On the Chain on

On March 24, the United States District Court for the Southern District of New York granted the U.S. Securities and Exchange Commission (SEC) a preliminary injunction preventing Telegram from distributing $1.7 billion of its...more

Hogan Lovells

France calls for applications for CBDC experimentations

Hogan Lovells on

The French central bank (Banque de France (BdF)) aims to identify concrete cases integrating central bank digital currencies (CBDCs) in innovative procedures for the clearing and settlement of tokenised financial assets...more

Skadden, Arps, Slate, Meagher & Flom LLP

Blockchain Trends and Enforcement Surrounding the New Technology

Skadden, Arps, Slate, Meagher & Flom LLP on

In 2019, regulators continued to consider whether and how to regulate blockchain technology. After the two previous years that included a high number of initial coin offerings (ICOs), many of which involved allegedly...more

Orrick, Herrington & Sutcliffe LLP

The implementation of the Fifth Anti Money Laundering Directive in German Law – Tighten the tight?

Orrick, Herrington & Sutcliffe LLP on

In the course of the “Panama Paper” scandal, Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing – known as 4. Anti-Money Laundering...more

Polsinelli

BitBlog Weekly Summary

Polsinelli on

This week’s summary includes updates on anti-money laundering in the crypto-friendly nation of Malta and a proposal to regulate cryptocurrency miners in the United States to help stop human trafficking....more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Articles on New FINRA Guidance on Public Offering Review Process, Final Results of...

Katten Muchin Rosenman LLP on

BROKER-DEALER - FINRA Publishes Notice to Members Encouraging Continued Disclosure of Digital Assets Activities – On July 18, the Financial Industry Regulatory Authority (FINRA) published Regulatory Notice 19-24...more

Jones Day

Germany to Implement EU Anti-Money Laundering Directive with Cryptocurrency Licensing Requirements

Jones Day on

The Situation: The G20, a forum for governments and central bank governors from 19 countries and the European Union, had made the decision to combat money laundering and terrorism financing activities tied to the use of...more

A&O Shearman

Financial Action Task Force Reports to G20

A&O Shearman on

The Financial Action Task Force has published a Report to G20 Finance Ministers and Central Bank Governors on its ongoing work to fight money laundering and terrorist financing. The report summarizes the FATF's work...more

Perkins Coie

Blockchain Week in Review - April 2019 #3

Perkins Coie on

U.S. Developments - Regulatory Updates - Arca Investment Management Files With SEC to Issue Stablecoin - Arca Investment Management, a California-based investment management firm specializing in digital assets, filed an...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - April 2019

Skadden, Arps, Slate, Meagher & Flom LLP on

In this issue, we examine the release of the much-anticipated Strategic Hub for Innovation and Financial Technology (FinHub) guidance for analyzing how U.S. federal securities laws apply to initial coin offerings, the...more

White & Case LLP

Cryptoassets and ICOs: EU Regulators Show Their Hand

White & Case LLP on

On 9 January 2019, the European Banking Authority (EBA)1 and the European Securities and Markets Authority (ESMA)2 published two reports with their advice on cryptoassets for the European Commission (EC) (and in ESMA's case,...more

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