Virtual currencies are digital, lack physical form, and differ from digital currencies that can be cashed out. Virtual currencies like Bitcoin are decentralized and not backed by a central authority, ...

On December 15, 2022, the New York Department of Financial Services (“NYDFS”) published an Industry Letter detailing the Department’s guidance regarding banking organizations that wish to engage in ...

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 ...

Amazon is excited about its virtual currency coming in May. But CNET News' Stephen Shankland is concerned about sacrificing the flexibility of real-world money and other potential pitfalls. Stephen ...

On October 19, 2023, The US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released a Notice of Proposed Rulemaking (NPRM) 1 taking aim at convertible virtual currency (CVC ...