On May 9, 2019, the U.S. Financial Crimes Enforcement Network (FinCEN) published new guidance entitled, Application of FinCEN’s Regulations to Certain Business Models Involving Convertible Virtual Currencies. The Guidance, presented as a consolidation of FinCEN regulations and administrative rulings, outlines how the Bank Secrecy Act (31 U.S.C. § 5311, et
The SEC has published guidance with a detailed framework on whether a digital asset is offered and sold as an investment contract, and, therefore, is a security. Contact us if you have questions about the categorization of your digital asset. “Blockchain and distributed ledger technology can catalyze a wide range of
“In a significant move for the advancement and legitimization of cryptocurrencies and blockchain businesses in the United States, Wyoming has introduced a bill that aims to clarify the legal position of digital assets, as well as offer digital asset custody through banks rather than financial institutions. The Bill offers three
Contact our Cryptocurrency Legal Experts to find out more what Wyoming’s new laws might benefit your crypto related business. “The state legislature of the American state of Wyoming has reportedly passed two new house bills that aim to foster a regulatory environment conducive to cryptocurrency and blockchain innovation. The developments were reported by the president of the
In an area that is only now starting to see regulation, companies are able to run Initial Coin Offerings to raise funds for operation. For some, this is a legitimate business. For others, it as seen as fraud. The schemes are especially based around those who don’t understand how the
Cryptocurrency, also known as virtual currency, digital tokens, and coins, has become one of the most popular and versatile methods for carrying out financial transactions. The marketplace for cryptocurrency is rapidly expanding. However, there is uncertainty surrounding the treatment of offers and sales of such digital currencies. Since the increased
In an article by Coindesk, they share that “Hong Kong’s Securities and Futures Commission (SFC) says it will bring crypto funds under its securities regulations to improve investor protection. In a circular issued Thursday, the financial regulator said that investment funds based in Hong Kong and that intend to invest more than
“Switzerland-based startup SEBA Crypto AG has raised 100 million Swiss francs ($103 million) to set up a bank offering cryptocurrency-related services, Reuters reported September 26. SEBA is reportedly headed by former UBS bankers — Guido Buehler as chief executive and Andreas Amschwand as chairman — and plans to apply for a banking and securities
As the U.S. and China struggle for dominance in artificial intelligence, they are locked in a parallel, behind-the-scenes race to master quantum technology, a contest that could result in lasting military superiority and a possible new industrial revolution. The big picture: Though still far off, conquering quantum technology could result in