News & Analysis as of October 12, 2024

New Legislation

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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 -

Significant State Regulatory Development in the Virtual Currency Industry in California and New York

Goodwin on 4/30/2024

California enacted its own version of New York’s “BitLicense” law, the Digital Financial Assets Law (DFAL), becoming one of the first US states to implement a virtual currency-specific regulatory regime. ...more

Blockchain Week in Review - January 2019 #3

Perkins Coie on 1/24/2019

U.S. Developments - Flood of State Virtual Currency Legislation - Since the start of the new year there have been roughly nine virtual currency bills introduced or passed in four different states. Overall, the bills...more

State Regulations on Virtual Currency and Blockchain Technologies (Updated)

Carlton Fields on 1/9/2019

There exists no uniformity with respect to how businesses that deal in virtual currencies (also known as "cryptocurrencies") such as Bitcoin are treated among the states....more

Retaining North Carolina's Booming Virtual Currency Industry

Ward and Smith, P.A. on 6/27/2018

North Carolina rightfully regards itself as a leader in innovation and as a hub for technology—it hosts Research Triangle Park and world-renowned universities, and according to the NCTech’s 2018 State of Technology Industry...more

State Regulations On Virtual Currency And Blockchain Technologies

Carlton Fields on 11/10/2017

As of this inaugural publication, there exists no uniformity with respect to how businesses that deal in virtual currencies (also known as “cryptocurrencies”) such as Bitcoin are treated among the states. For these...more

New Hampshire Exempts Bitcoin from Money Transmitter Regulation

Sheppard Mullin Richter & Hampton LLP on 6/15/2017

The pro-bitcoin legislation trend continues. This month New Hampshire passed legislation that exempts persons using virtual currency from registering as money transmitters. Specifically, the law amends existing RSA 399-G,...more

Vermont Enacts Loan Solicitation License, Amends Other Financial Regulation Licensing Provisions

Ballard Spahr LLP on 6/5/2017

Entities engaged in the business of loan solicitation are now required to be licensed with the Vermont Department of Financial Regulation following the recent enactment of Act 22. Loan comparison websites, lead generators,...more

Blockchain Week in Review – April 2017 #3

Perkins Coie on 5/5/2017

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

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