Tag Archives: currency

Florida Court Finds Virtual Currency Subject to Money Service Businesses Law

On January 30, 2019, a Florida appellate court reversed the trial court’s dismissal of State v. Espinoza, instead holding that a Bitcoin business was both a money transmitter and a payment instrument seller, subject to Florida’s statutes governing money services … Continue reading

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Pennsylvania Issues Money Transmitter Act Guidance for Virtual Currency Businesses

The Pennsylvania Department of Banking and Securities recently issued guidance under the Money Transmitter Act (“MTA”) for entities engaged in various forms of virtual currency business in the commonwealth. The MTA, like similar statutes in other states, requires entities engaged … Continue reading

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Digital Currency App’s Electronic User Agreement Held Enforceable

In a recent blog post, we wrote about how the Second Circuit found the arbitration clause in a web service’s terms and conditions unenforceable because the user did not have reasonable notice of the terms that were communicated via a … Continue reading

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Texas Issues Updated Guidance for Virtual Currency Businesses

Not only do operators of virtual currency businesses face a growing body of overlapping federal regulations, but they must also contend with a patchwork of state laws as well. Compliance with state money transmitter laws, which typically provide for licensure and … Continue reading

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Dulles Currency Seizure to Ghana

This week, CBP officers at Dulles reported a couple instances of drug seizures at Dulles airport, along with a pretty big cash seizure from a man who was going to Ghana. The man was stopped by CBP on his way … Continue reading

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