Washington Money Transmitters and Currency Exchanges Assessment Deadline The State of Washington announced today the deadline for Money Transmitters and Cryptocurrency exchanges Annual Assessment, July 2nd 2018. Reports and payments must be filed through the Nationwide Multistate Licensing System (NMLS) website by July 2nd lest fines and penalties will apply. Washington State has been very active […]

South Carolina Introduces Money Services Division to Govern Money Transmitters South Carolina Office of the Attorney General has just announced yesterday a new division to govern Money Service Businesses and Currency Exchange Businesses. The Attorney General will be the commissioner of the Money Services Division and the law requiring licensing will come into effect May […]

Immediate Release May 08, 2018 WASHINGTON— In a ceremony held at the U.S. Department of the Treasury today, the Financial Crimes Enforcement Network (FinCEN) recognized the outstanding efforts of law enforcement agencies that successfully used Bank Secrecy Act (BSA) reporting in their criminal investigations. The BSA’s recordkeeping and reporting requirements help to create a financial […]

Decrypting Cryptocurrency Scams: FTC Free Workshop on June 2018 The Federal Trade Commission will host a free to the public ICO workshop titled, “Decrypting Cryptocurrency Scams,” on June 25, 2018 in Chicago’s  DePaul University at 1:00 pm Central Time. Registration is not required and the event will be recorded and streamed live here. The event will […]

New York BitLicense May Be Replaced by Digital Seal Getting Rid of Fees Just over a year ago on January 2017, Coinbase became the third virtual currency business to obtain a New York Bitcoin license, or ” BitLicense, ” granted by the New York Department of Financial Services (DFS). The New York Bitcoin Licensing scheme […]

Under New Crypto-friendly Laws, Virtual Currency Exempt from Taxes in Wyoming Last Month the State of Wyoming made headlines for passing a series of revolutionary laws turning the state into one of the most cryptocurrency friendly jurisdictions. One of the laws, HB70 makes Wyoming the only state in the Union to define Tokens as a […]

IRS Virtual Currency Taxes Reminder With the CFTC getting support from the federal courts that virtual currency is a commodity and SEC regulating them as securities, it’s easy to forget the yearly IRS reminders since 2014 that cryptocurrency transactions should be reported like any other property. Four years ago on March 23, 2014 the IRS issued […]

FTC Sues Bitcoin Scammers and a Forms Blockchain Working Group The Federal Trading Commission, the biggest consumer fraud protection agency in the U.S, filed a law suit on Friday against two companies and four defendants operating a Bitcoin pyramid Scheme and announced the formation of its very own Blockchain Working Group. The U.S District Court […]

Coinbase Announces SegWit Implementation Coinbase, one of the world’s largest Bitcoin wallet and exchange platform, announced a software update with SegWit to help with its notorious delays for costumer transactions. SegWit (Segregated Witness) is a transaction protocol for Bitcoin that expands the number of transactions that can be carried out in its Blockchain distributed ledger.  This update will […]

Oregon State Agency Receives Coinbase and Digital Currency Complaints, Offers Warnings On January 10, 2018 The Bend Bulletin reported that Oregon’s Department of Consumer and Business Services received complaints from consumers related to Coinbase. Spokes man Brad Hilliard said the costumer complaints were in regards to delays in receiving their digital currency on Coinbase. Since […]