Author - Melissa Bickerton

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Newly Released Virtual-Currency Businesses Act Augurs Increased State Regulation of Bitcoin, Ether, and other Digital and Crypto Currencies

Newly Released Virtual-Currency Businesses Act Augurs Increased State Regulation of Bitcoin, Ether, and other Digital and Crypto Currencies

By Jeremy M. McLaughlin

On October 9, 2017, the Uniform Law Commission released the final version of its Uniform Regulation of Virtual-Currency Businesses Act (“VCBA”). The Act repeatedly references both state money transmission laws and Financial Crimes Enforcement Network money services business regulations, noting that the VCBA is intended to provide protections and obligations that are generally similar to those legal regimes.

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