News & Analysis as of November 19, 2024

Virtual Currency › FTC Act

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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 -

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

Hudson Cook, LLP on 5/9/2024

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

Video Game Industry Responds to Regulation of Pay-To-Win Microtransactions and Loot Boxes

Dickinson Wright on 9/4/2019

Controversy over certain video game features – “microtransactions,” “pay to win” and “loot boxes” – has heated up over the past few months. Because these popular features involve real money and an element of chance, some...more

The State AG Report Weekly Update May 2019 #1

Cozen O'Connor on 5/3/2019

Antitrust- FTC Sues Health Information Company Over Allegedly Monopolizing Electronic Prescription Markets- The Federal Trade Commission (“FTC”) filed a lawsuit against health information company Surescripts, LLC, over...more

Bitcoin, Blockchain and Consumer Protection Laws

Holland & Knight LLP on 1/10/2018

• Unsophisticated consumers eager to make a profit remain susceptible to representations by companies that are false and misleading, and constitute deceptive acts or practices in violation of the Federal Trade Commission...more

Legal Framework of Mobile Payments Presented in Pew Center White Paper

Ballard Spahr LLP on 2/18/2016

As consumers increasingly turn to mobile devices to pay their bills, shop online, and order rides and other services, a number of legal and practical questions emerge. Who regulates mobile financial services offered by...more

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