Recent key Bitcoin and virtual currency regulatory and law enforcement developments
Abstract
Purpose
To explain and draw conclusions from six recent bitcoin and virtual currency regulatory and law enforcement developments.
Design/methodology/approach
Discusses and draws conclusions from six recent, important developments: two administrative rulings from the Financial Crimes Enforcement Network (FinCEN), recent remarks by New York State Department of Financial Services Superintendent Benjamin Lawsky, remarks by Mark Wetjen of the Commodity Futures Trading Commission (CFTC), a recent Securities and Exchange Commission (SEC) informational sweep of crowdsales of crypto-equity, and the US Department of Justice proceedings against Trendon Shavers.
Findings
Rather than trying to stifle or control virtual currencies, US governmental entities recognize the long-term value of virtual currencies and are trying to create a regulatory regime to foster growth and development, and an atmosphere where institutional and retail investors are protected.
Originality/value
Provides an overview of the key United States regulatory issues facing companies engaged in Bitcoin-related businesses.
Keywords
Acknowledgements
© 2014 Katten Muchin Rosenman LLP. All rights reserved
Citation
Greebel, E.L., Moriarty, K., Callaway, C. and Xethalis, G. (2015), "Recent key Bitcoin and virtual currency regulatory and law enforcement developments", Journal of Investment Compliance, Vol. 16 No. 1, pp. 13-18. https://doi.org/10.1108/JOIC-01-2015-0009
Publisher
:Emerald Group Publishing Limited
Copyright © 2015, Authors