Regulatory Update – SEC fines Sand Hill and ECJ Proceedings on VAT for BTC

  In this week's update we discuss: - SEC fines Sand Hill exchange over breaches of the Dodd-Frank Act (see article here) - ECJ proceedings on the application of VAT on Bitcoin start (see article here) For more...

Vietnam – Warning Against Use of Digital Currencies

Vietnam warning consumers about digital currencies. Article covered by CCN and original press release in Vietnamese here.

FATF issues guidance for virtual currencies

  The Financial Action Task Force (FATF) issued a “Guidance for a Risk-Based Approach for Virtual Currencies (VCs)” on the 26th June. FATF is an intergovernmental organisation that mainly issues policy recommendations in the areas of...

Canada’s Revenue Agency (CRA) states that Bitcoin is ‘Specified foreign property’

The Canadian Revenue Agency (CRA) has given guidance on how Bitcoin and other digital currencies are viewed for tax purposes. The specific topics in question were whether: a digital currency (e.g. Bitcoins); and a foreign partnership...

Ripple Labs fined by FinCEN

Ripple Labs operator of the Ripple protocol has been fined $700k on a number of counts including: failing to have registered as an MSB; for not having an AML policy in place and not having a...

FinCEN states that issuing negotiable certificates of ownership of precious metals are MSBs and...

In a letter published on the 14th August 2015, FinCEN stated that if a company issues digital or physical certificates that relate to the ownership of precious metals, then they would be considered a money...

Blockchain Regulation – An Overview

Blockchain Regulation – An Overview Source: Diacle

NY Bitlicense definitive framework [pt.3]

  Capital Requirements The Superintendent determines the amount and form of capital a Licensee must maintain at all times to “ensure the financial integrity of the Licensee and its ongoing operations.” The Licensee’s finances and market positioning strongly...

Legal precedent of P2P Bitcoin loans set in Kentucky, USA

  A legal precedent was set on the 5th June when a circuit judge in Kentucky ruled that P2P loans taken out in Bitcoin have a legal basis to be repaid. The case arose when...

Regulatory Update – VAT on BTC in Switzerland

  In this week's update we discuss: - VAT on BTC in Switzerland For more information and in-depth analysis on these topics, please visit the Merkle Tree Blog at http://bitlegal.io/