US Regulation Of Cryptocurrency As A Type Of Financial Technology

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WilmerHale

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WilmerHale provides legal representation across a comprehensive range of practice areas critical to the success of its clients. With a staunch commitment to public service, the firm is a leader in pro bono representation. WilmerHale is 1,000 lawyers strong with 12 offices in the United States, Europe and Asia.
Franca Harris Gutierrez, Sharon Cohen Levin, Bradford Hardin, Jennifer Jacoby Altscher, Zachary Goldman and Nicholas Simons have authored a global-wide chapter in of The International Comparative Legal Guide to Fintech 2018.
United States Technology

Franca Harris Gutierrez, Sharon Cohen Levin, Bradford Hardin, Jennifer Jacoby Altscher, Zachary Goldman and Nicholas Simons have authored a global-wide chapter in of The International Comparative Legal Guide to Fintech 2018. Published by Global Legal Group Ltd (GLG), this is the second edition of GLG's Fintech series which provides practical cross-border insight into Fintech around the globe.

In this article entitled "US Regulation of Cryptocurrency as a Type of Financial Technology," the WilmerHale Fintech lawyers explain how government agencies have adapted existing regulatory frameworks to cryptocurrency. After briefly describing how regulators have approached issues of consumer and investor protection, the bulk of the article focuses on the application of anti-money laundering ("AML") and US economic sanctions laws and regulations to cryptocurrency. In addressing new cryptocurrency technology and products, government agencies have not advocated for new laws or issued new regulations. Rather, they have interpreted existing requirements through guidance and enforcement actions to announce their determination that cryptocurrencies are subject to existing legal obligations.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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