What’s in the Bitlicense’s 5-year update?
On the Bitlicense’s 5th anniversary, NYDFS has announced plans to streamline the licensing application process, the new coin listing process, and it has updated a Frequently Asked Questions page. These...
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The Uniform Law Commission’s model virtual currency act has been introduced in California
In February, the Uniform Law Commission’s model act for virtual currency business licensing was introduced in the California Assembly as AB 1489. Although it is now October and the Assembly’s...
FinCEN’s new cryptocurrency guidance matches Coin Center recommendations
Today the Financial Crimes Enforcement Network (FinCEN) issued new guidance on how the Bank Secrecy Act (BSA) applies to cryptocurrencies and its users. Here’s our initial analysis of that guidance...
As any cryptocurrency entrepreneur will tell you, getting a BitLicense is difficult and costly. Not only that, but as written the regulation has grey areas relating to custody, requires state...
Gemini will become the first BitLicensed exchange to offer trading in Zcash. The DFS press release summarizes Zcash in the following way: The Zcash network supports two kinds of transactions,...
The Uniform Law Commission Has Given States a Clear Path to Approach Bitcoin
The Uniform Law Commission (ULC), a private body of lawyers and legal academics, has voted to finalize and approve a uniform model law for the regulation of virtual currency businesses....
The ULC’s model act for digital currency businesses has passed. Here’s why it’s good for Bitcoin.
The Uniform Law Commission, a private body of lawyers and legal academics from the several states, has just voted to finalize and approve a uniform model state law for the...
The digital currency industry supports the ULC’s model state law.
In an open letter to attendees of the Uniform Law Commission’s annual meeting this week, several major digital currency firms and investors called for the adoption of the “Regulation of Virtual...
California is back at it; a new (old) virtual currency licensing bill is pending in the Assembly.
The new bill is AB 1123. Over the last two years we’ve been discussing and studying an earlier bill, AB 1326, extensively. That bill went through several iterations: one that...
State Digital Currency Principles and Framework
States have begun to look at how virtual currencies, such as Bitcoin, and the businesses that utilize them to provide consumer products, interact with money transmission and consumer protection policy....