Virtual Currency Report, published by Perkins Coie LLP, focuses on legal and regulatory developments affecting virtual currencies, digital assets, and blockchain technology. The blog covers topics such as regulatory approvals and enforcement actions related to cryptocurrency products, including exchange-traded funds and digital asset securities. It also addresses updates from financial regulators like the SEC, NYDFS, and the Federal Reserve concerning compliance, risk management, and supervisory programs for banks and fintech firms involved in crypto activities. The blog provides insights on policy changes, self-certification processes for digital assets, and legal implications of emerging financial technologies and partnerships in the crypto space.
Weekly Focus:
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Weekly Focus
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Weekly Focus
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Weekly Focus
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U.S. Developments
Federal and State Regulatory Developments
Bill in Hawaii State Senate Addresses Digital Assets Including Authorization for Banks to Serve as Qualified Custodians
SB 2594 before the Hawaii State Senate addresses a number of matters relating to digital assets. …
U.S. Developments
U.S. Regulatory Developments
Bill Addressing Tax Treatment of Crypto Transactions Introduced to the House
On January 16, 2020, Congresswoman Suzan DelBene (WA) and Congressman David Schweikert (AZ) introduced the “Virtual Currency Tax Fairness Act” (H.R. 5635). This bill…
U.S. Developments
Members of Congress Respond to IRS Tax Guidance for Digital Assets
On December 20, eight members of the U.S. House of Representatives sent a letter to the Commissioner of the Internal Revenue Service (“IRS”) urging further clarity on…
U.S. Developments
FinCEN Director Discusses How FinCEN Uses BSA Data and the BSA Value Project
The Director of the Financial Crimes Enforcement Network (FinCEN), Kenneth A. Blanco, delivered prepared remarks at the American Bankers Association/American Bar Association Financial Crimes Enforcement…
U.S. Legislation
U.S. House Bill Seeks Classification of “Managed Stablecoins” as “Securities”
Texas Representative Sylvia Garcia introduced legislation in the U.S. House of Representatives that would amend the definition of a “security” within the Securities Act of 1933, the Securities…
