Archive: April 19, 2018

1
New York Attorney General Launches Fact-Finding Mission into Virtual Currency Exchanges; Exchanges Divided on Response
2
Japanese Regulator Holds the First Meeting of the New Study Group on Virtual Currency Exchanges

New York Attorney General Launches Fact-Finding Mission into Virtual Currency Exchanges; Exchanges Divided on Response

By Jeremy McLaughlin and Dan Cohen

The Investor Protection Bureau of the New York Office of the Attorney General (Bureau) has established the “Virtual Markets Integrity Initiative,” which the Bureau describes as a “fact-finding inquiry into the policies and practices” of virtual currency exchanges.  The Bureau launched the initiative “to increase transparency and accountability in the virtual currency marketplace—and better inform the actions of enforcement agencies, investors, and consumers in this space.”

Read More

Japanese Regulator Holds the First Meeting of the New Study Group on Virtual Currency Exchanges

By Yuki Sako

As a response to the fallout resulting from the hacking of Japanese cryptocurrency exchange Coincheck Inc., which resulted in $530 million worth of digital currencies being stolen, on April 10, 2018, the Financial Services Agency of Japan (FSA) hosted the first meeting of the Study Group on Virtual Currency Exchange Service Providers (Study Group).

By way of background, beginning April 2017, Japan required virtual currency exchange service providers (Virtual Currency Exchange(s)) to be registered with the Japanese authority.  Registered Virtual Currency Exchanges are subject to certain operational requirements and conduct regulations such as verification of customers’ identities and customer disclosure.

Read More

Copyright © 2019, K&L Gates LLP. All Rights Reserved.