The New York Department of Financial Services has announced the creation of a new “powerhouse” Consumer Protection and Financial Enforcement Division. The Division has been created by consolidating the Enforcement and Financial Frauds Division and Consumer Protection Division and will place supervision, enforcement, and consumer education under the same roof. The Division consists

The Pennsylvania Department of Banking and Securities (“DoBS”) just released Guidance declaring that virtual currency, “including Bitcoin,” is not considered “money” under the Pennsylvania Money Transmission Business Licensing Law, otherwise known as the Money Transmitter Act (“MTA”).  Therefore, according to the Guidance, the operator of the typical virtual currency exchange platform, kiosk, ATM or

A decision this week from a New York federal district court ruling that the U.S. Commodity Futures Trading Commission (CFTC) had jurisdiction to regulate a cryptocurrency business represents the first opinion from a federal court affirming the CFTC’s jurisdiction to regulate virtual currency spot and derivative markets.

The decision raises the possibility of jurisdictional tension