News & Analysis as of November 15, 2024

Financial Crimes

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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 -

PA Department of Banking and Securities: Virtual Currency is “Money”

Ballard Spahr LLP on 5/14/2024

On April 20, 2024, the Pennsylvania Department of Banking and Securities (“DoBS”) issued a policy statement (“Policy Statement”) to “clarify” that the Department’s interpretation of the term “money” in the Pennsylvania Money...more

What 2021 Has in Store for Stablecoin

Morgan Lewis on 1/12/2021

The year 2020 won’t soon be forgotten. Despite the challenges that the COVID-19 pandemic presented on a global scale, 2020 ushered in new ways of thinking about stablecoin, a type of cryptocurrency that attempts to peg its...more

Two Chinese Nationals Charged with Money Laundering Over $100 Million in Cryptocurrency for North Korea

Ballard Spahr LLP on 3/12/2020

Case Sheds Light on Latest Methods to Evade Detection: “Peeling” Chains - On March 2, the U.S. government sanctioned and indicted two Chinese nationals for helping North Korea launder nearly $100 million in stolen...more

Virtual Currency › Money Transmitter › Financial Crimes

PA Department of Banking and Securities: Virtual Currency is “Money”

What 2021 Has in Store for Stablecoin

Two Chinese Nationals Charged with Money Laundering Over $100 Million in Cryptocurrency for North Korea

Popular Video Game Serves as a Reminder of Regulatory Risks of In-game/In-app Virtual Currencies

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