Facebook’s move to roll out an entirely new cryptocurrency—a stablecoin known as Libra—has been the subject of speculation for years. Now, the cryptocurrency in question has emerged, and brought with it a host of new possibilities, questions, and even speculations to go along with it. Some have even suggested that Libra may ultimately pose a […]

Selecting a location for any startup company is a major step in setting up shop. States are selected on a wide range of criteria such as tax laws, overall quality of life for employees, or even—particularly for small businesses—the state in which their founders currently live. One state is proving especially friendly for those in […]

Just a year ago, the Banking Department of the Vermont Department of Financial Regulation issued a position that was to prove difficult for money transmitter operations. The position in question focused on money transmission law and noted that the law did “…not exempt a payment processor an agent of a payee from licensure.” This law […]

Rhode Island is out to be the ultimate testing ground for those working in the blockchain space, including a voucher valued at $50,000 for any entrepreneur.

We anticipate that in June the FATF will adopt a final version of its Interpretative Note, along with updated guidance to further assist countries and industry with their obligations.

Crypto exchange Bitfinex ordered by judge for documents of a $850 million misfortune and an ensuing loan from stablecoin backer Tether. Judge Cohen stated “the subject of whether these are securities…”

Cryptocurrencies are increasingly coming under government scrutiny, especially in light of a growing market for these issues following the success of bitcoin. With this increased government scrutiny has come likewise increased government action, and recently, New York Attorney General Letitia James announced a new court order obtained by her office to address the Bitfinex virtual […]

Money transmission is going to undertake some forms of change in both Michigan and California. Both have to do with what is know as an “agent of payee” and how the definition of the term. In the state of Michigan has passed through legislation in which transactions enacted by an “agent of payee” are not […]

Erik Voorhees May Have Violated SEC Settlement from 2014 A $50 million cryptocurrency coin offering is being investigated by the U.S. Securities and Exchange Commission (SEC). According to The Wall Street Journal, this cryptocurrency sale may involve a well-known bitcoin entrepreneur, Erik Voorhees, and if this is found to be the case, he will have broken […]

NYDFS Approves First BitLicense for Operating Bitcoin Teller Machines Last week the New York State Department of Financial Services (DFS) granted Coinsource, Inc. a BitLicense to operate Bitcoin Teller Machines (BTM) in the state. Coinsource operates 40 Bitcoin kiosks in New York City, Westchester, and Nassau. The touchscreen kiosks allows customers to convert cash to […]