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Virtual Currency › United Kingdom › Financial Conduct Authority (FCA)

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 -
BakerHostetler

Weekly Blockchain Blog - July 2024

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Institutional Firms Enter Crypto Market; Crypto Firms Partner on New Products - According to recent reports, a major global bank is establishing a spot trading desk for buying and selling bitcoin and ether. The new desk,...more

Cadwalader, Wickersham & Taft LLP

The UK’s Plan to Become a Global Crypto Hub

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On April 4, 2022, the UK government announced plans to become a “global hub” for the cryptoasset industry with proposals for the regulation of stablecoins, development of an NFT (non-fungible token) issued by the Royal Mint,...more

K&L Gates LLP

Cryptocurrency – Russia's Sanctions Loophole?

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Regulators across the globe have this week stepped up their messaging in relation to sanctions on cryptocurrency. This comes in the wake of pleas from Ukraine’s minister of digital transformation via Twitter on Sunday for...more

K2 Integrity

Sanctions Against Russia: The Week in Review - March 2022

K2 Integrity on

The Week in Review delivers the impact and analysis for the public, private, and non-profit sectors from our daily reporting of the evolving global sanctions campaign against Russia. ...more

Proskauer - Blockchain and the Law

UK Financial Conduct Authority Consults on Its Financial Promotion Rules for Cryptoassets and Other High-Risk Investments

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On 19 January 2022, the UK Financial Conduct Authority (“FCA”) published a consultation paper (CP22/2) (the “Consultation”) setting out its proposals to strengthen its financial promotion rules for high-risk investments...more

A&O Shearman

Bank of England and HM Treasury Announce Next Steps for UK Central Bank Digital Currency

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The Bank of England and HM Treasury have announced the next steps in the development of a U.K. Central Bank Digital Currency. These include the following...more

BakerHostetler

Canadian Ether Fund Launches, Swiss Bank Tokenizes Shares, Crypto Regulation Evolves in UK, Estonia and Germany; Blockchain...

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Canadian Ether Fund Launches, Swiss Bank Tokenizes Shares, New German Law Passed - Earlier this month, 3iQ Corp., a Toronto-based investment management firm, announced the listing of its fund, The Ether Fund (the Fund), on...more

Morgan Lewis - All Things FinReg

Bitcoin 101: Halves, Halving, and ‘the Halvening’

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The virtual currency Bitcoin has been a hot topic in FinReg for some time, but in recent weeks mainstream interest in Bitcoin has grown in light of the approaching “halving” or “halvening.” So what is the “halvening” and why...more

BCLP

A rag-bag of changes to UK money laundering regulations

BCLP on

UK regulations implementing the EU 5th Money Laundering Directive (“5MLD”) came into force on 10 January 2020: the Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (“MLR 2019”). The regulations make a...more

Hogan Lovells

UK FCA becomes AML/CFT crypto supervisor

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The UK Financial Conduct Authority (FCA) has become the anti-money laundering and countering the financing of terrorism (AML/CFT) supervisor for some types of cryptoasset businesses. These will need to meet certain...more

White & Case LLP

NYDFS Requires LIBOR Transition Plans by Early February

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On December 23, 2019, the New York Department of Financial Services (NYDFS) issued an Industry Letter instructing each institution it regulates, including banks and licensed Fintechs, to make submissions describing the...more

A&O Shearman

UK Implements EU’s Fifth Anti-Money Laundering Directive

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U.K. revisions to its anti-money laundering and counter terrorist financing regime come into force on 10 January 2020. The U.K.’s revisions implement the European Union’s Fifth Anti-Money Laundering Directive, commonly...more

Katten Muchin Rosenman LLP

Bridging The Week - August 2019 #2

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Last week a Canada-based social media company answered charges filed against it by the Securities and Exchange Commission in June 2019 that alleged its 2017 initial sale of digital tokens constituted an unlawful securities...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Articles on FINRA and the FCA Offering Guidance on Cryptocurrencies

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BROKER-DEALER - FINRA Releases 2019 Annual Risk Monitoring and Examination Priorities Letter - On January 22, the Financial Industry Regulatory Authority (FINRA) issued its annual Risk Monitoring and Examination...more

Perkins Coie

Blockchain Week in Review - November 2018

Perkins Coie on

Upcoming Bitcoin exchange-traded funds (“ETF”) Decisions - On January 4, 2018, NYSE Arca filed a proposed rule change to list 9 Bitcoin ETFs. Subsequently, the time for the Security Exchange Commission (“SEC”) to approve or...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest, Featuring Topics on SEC/Corporate, Derivatives, CFTC, Digital Assets and Virtual Currencies,...

Katten Muchin Rosenman LLP on

SEC/CORPORATE - SEC Division of Corporation Finance Issues C&DIs Regarding Notices of Exempt Solicitation - On July 31, the staff of the Division of Corporation Finance (the Staff) of the Securities and Exchange...more

Perkins Coie

Blockchain Week in Review - July 2018

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The following update is on our Fintech Legal Report: FINRA Issues a Regulatory Notice for Firms to Let FINRA Know About Digital Asset Activities - U.S. Developments - Regulatory Updates - Vermont Enacts...more

Robinson+Cole Data Privacy + Security Insider

Financial Conduct Authority Warns Banking Industry of ICOs and Cryptocurrency

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Writing a “Dear CEO” letter to banking executives, the Financial Conduct Authority (FCA) warned executives on June 11, 2018, to perform enhanced due diligence on clients who use or trade cryptocurrency for business...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Walmart’s shares took a hit yesterday on Q4 results that showed slowing online sales and below-expected earnings despite a rise in revenue....more

Dechert LLP

Asset Management Regulatory Roundup - November 2017 - Issue 10

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A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details on the amendments to the European Venture Capital and Social Entrepreneurship Fund...more

K&L Gates LLP

Global Government Solutions® 2016 Mid-Year Outlook

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This newest edition of the Global Government Solutions® series highlights increased government involvement in global commerce and provides the latest regulatory information corporate leaders need to navigate the intersection...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 7.20.16

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We’ve heard about VW’s $15 billion settlement to resolve US claims by owners and regulators, but a spate of recent state AG-led actions shows that the fallout from the emissions cheating scandal is far from over. NY, MA, and...more

Cooley LLP

Blog: Virtual Currency Regulation: The European Parliament’s Box Of Frogs

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On 26 April 2016, the European Parliament’s Internal Market & Consumer Protection (IM&CP) Committee published an Opinion about virtual currencies. The Opinion was prepared by Ulrike Trebesius (MEP) and it calls on the...more

Cooley LLP

Blog: International Regulators Take An Interest In Crypto-Currencies & The Blockchain: Regulation Is On Its Way

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In the space of less than 24 hours, the UK’s Financial Conduct Authority (FCA), the European Parliament and the Financial Stability Board (FSB), published three documents which demonstrate a keen interest in (a) using; and...more

Cooley LLP

Alert: The Regulation of Virtual, Digital and Crypto-currencies

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There are more than 6004 virtual currencies in use around the world today. Bitcoin is one of the best known and most widely used in Europe and North America. ...more

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