Convertible virtual currency is increasingly equated with the notion of real currency. Indeed, the increased acceptance of virtual currency as a payment method among retailers and consumers, the ...

On December 15, 2022, the New York Department of Financial Services (“NYDFS”) issued guidance clarifying that all New York banking organizations are required to obtain prior agency approval for ...

As digital technology continues to evolve, the financial industry is undergoing a transformative shift with the rise of virtual currency. With its ability to streamline transactions, reduce costs, and ...

In August 2020, Louisiana adopted the Virtual Currency Businesses Act (VCBA) to regulate virtual currency activity in the state. In doing so, it joined New York as only the second US state to ...

The Norwegian Consumer Council has teamed up with nearly two dozen other consumer protection agencies to call for mass regulation of the billion-dollar virtual currency market. Gaming currently is, ...

State law regulates the licensing and activities of VCBs. Although regulation by each state varies, agencies are working to make the licensing requirements across states more uniform. This article ...

Virtual currencies are common forms of financial activity. A quarter into the 21st century, the average individual has become aware of (and often comfortable using) things like Apple Pay, digital ...

On the Bar is a regular column written by attorneys at Yoon & Yang LLC on various laws and regulations that affect running a business in Korea. The content provided here is general legal information. ...