Blockchain and Financial Services Blog

Showing 10 posts in Bitcoin.

Rising Momentum for Blockchain's Decentralized Finance Applications

Blockchain technology’s potential for disintermediation in the financial sphere has evolved in the decade since distributed ledger technology was introduced. Early challenges to cryptocurrency’s usability have been slowly overcome by developers through updates to existing blockchains, such as by hard forks, and the creation of new, specialized platforms, such as Monero. Read More ›

What’s around the bend for crypto and blockchain developers and the agencies tasked with regulating a burgeoning, transnational industry?

Frost Brown Todd attorneys Courtney Rogers Perrin and Joshua Lewis join Nick Sciple of the Industry Focus podcast to discuss the meteoric rise and recent retrenchment of the ICO market. Read More ›

From Gray to Black and White: Traditional Regulations Come to Crypto

For nearly a decade, participants in the blockchain and cryptocurrency space have operated in a regulatory compliance gray zone. Recent developments — at both the federal and international levels — signal that the time for plausible deniability or unregulated freedom is coming to an end and more traditional regulations are moving to the forefront.

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New York Attorney General Launches Inquiry into Cryptocurrency Exchanges

On April 17, 2018, New York Attorney General Eric T. Schneiderman (the “NY AG”) launched the “Virtual Markets Integrity Initiative” (the “Initiative”), a fact-finding inquiry into the policies and practices of platforms used by consumers to trade virtual currencies like bitcoin and ether. Read More ›

It Begins: The First ICO-Related Securities Litigation Has Been Filed - and There are Lessons in it for Those Hoping to File Their Own ICO

On October 25, Plaintiff, Andrew Baker filed a proposed class action against Dynamic Ledger Solutions, Inc. (“DLS”) and several other related entities (“Defendants”) regarding an initial coin offering (“ICO”) for tokens known as “Tezzies.” While time and the courts will determine the merits of the class action, given the increasing popularity of ICOs, there are lessons to be learned from the accusations, both for aspiring ICOs and potential investors. Read More ›

Blockchain Policy Update: LabCFTC Releases “A CFTC Primer on Virtual Currencies”

The Commodity Futures Trade Commission’s (CFTC’s) recent publication of “A CFTC Primer on Virtual Currencies” indicates that cryptocurrency will remain in the CFTC’s crosshairs for the foreseeable future. Though the CFTC primer begins with a caveat—content therein should not be construed as an “official policy or position”—the document is valuable insofar as it defines virtual currencies (VCs), outlines their utilities and their potential for malfeasance. At the same time, the CFTC primer provides insight into the commission’s current thinking on cryptocurrency and may therefore portend the kind of regulatory measures and other exigencies VC developers and their counsel need to prepare for. Read More ›

Bitcoin ATMs: What They Are and How They Work

The traditional ATM is a truly ubiquitous part of our culture. Although the first American ATM was not installed until the fall of 1969 in New York City, most Americans, regardless of geography, probably cannot imagine life without the ease and convenience they provide. And this story is now likely to be repeated with Bitcoin ATMs. Read More ›

A Regulatory Primer for Bitcoin ATM Operators – Federal Law & Regulations

Most businesses must deal with federal, state, and local laws and regulations from time to time. Operators of Bitcoin ATMs are no different. For such operators, the primary regulations arise out of the federal Bank Secrecy Act (the “BSA”), as discussed below, and the state-level money transmitter laws are discussed in another article. Read More ›

A Regulatory Primer for Bitcoin ATM Operators – State Law & Regulations

Depending on the state where the Bitcoin ATM operator sets up the business, the operator may – or may not – need to comply with that state’s laws, regulations and/or licensing. For operators, the primary state-level matters of concern are typically its state or states of operation’s money transmitter laws. Read More ›

Legal Issues of Owning and Operating a Bitcoin ATM Business

As previously discussed, Bitcoin ATMs are a growing industry, offering consumers great flexibility in exchanging Bitcoin tokens for cash, or purchasing Bitcoin tokens for cash, via standalone kiosks. Many merchants are starting to get on-board with owning, or leasing space to, Bitcoin ATMs as a way to serve an expanding market. Read More ›

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Attorney Spotlight

William T. Repasky practices with the Litigation Department at Frost Brown Todd. He focuses on lending and commercial services; banking litigation and financial institutions.

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