Coinbase Renews Wyoming Money Transmitter License Bringing Bitcoin Back to The Cowboy State Coinbase, one of the largest Bitcoin and cryptocurrency exchanges set out with an ambitious goal to operate in all 50 states and beyond, adhering to every federal and state regulations.  That endeavor proved to be a challenge as various states’ regulations had […]

CFPB Announces The New Office of Innovation Last week the Consumer Financial Protection Bureau (CFPB) issued a press release assigning the new Director for the Office of Innovation, Paul Watkins, a FinTech regulator from Arizona’s Office of the Attorney General. Similar to the FTC’s Blockchain Working Group and LabCFTC, the Office of Innovation will engage experts in […]

CFO Jimmy Patronis: Florida Needs Cryptocurrency Chief ~Cryptocurrency Oversight Initiative Receives Support from Senate President-Designate Bill Galvano~ TALLAHASSEE, Fla.— Florida Chief Financial Officer (CFO) Jimmy Patronis today released a statement on the need for Florida to provide oversight of the growing industry of cryptocurrency by creating a statewide cryptocurrency chief. CFO Jimmy Patronis said, “Florida can […]

Square Joins Xapo, Genesis in New York BitLicense Grant for 2018   Last week the New York State Department of Financial Services (DFS) announced approval for Square, Inc. virtual currency licence or BitLicense, bringing the grand total of Bit Licensees to seven since the scheme was implemented in 2015, with two other charters approved for […]

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 […]