An Introduction to Virtual Currency Money Transmission Regulation

Blockchain & Cryptocurrency Regulation 2020

Blank Rome Associate Michael J. Barry co-authored the chapter on “An Introduction to Virtual Currency Money Transmission Regulation” in Blockchain & Cryptocurrency Regulation 2020 (Global Legal Insights, Oct. 2019).

The chapter examines when businesses in the virtual currency arena may be obligated to comply with federal and state money transmission laws and regulations in the United States, and includes the following content:

  • Federal virtual currency money transmission
  • FinCEN Virtual Currency Guidance
  • Classification of persons and entities conducting virtual currency business activities for money transmission purposes
  • State virtual currency money transmission
  • Attempts to standardize licensing practices

Blockchain & Cryptocurrency Regulation 2020 covers government attitude and definition, virtual currency regulation, sales regulation, taxation, money transmission laws and anti-money laundering requirements, promotion and testing, ownership and licensing requirements, mining, border restrictions and declaration, reporting requirements, estate planning and testamentary succession, and more. Blank Rome attorneys also authored this chapter in Blockchain & Cryptocurrency Regulation 2019.

To read the full chapter, please click here.