Bitcoin Foundation Releases a Primer on Jurisdictions for BTC Businesses
As mentioned in a recent piece regarding Coinbase having to police its users’ gambling activity, having to deal with the various regulations of multiple jurisdictions is a minefield, particularly for Bitcoin businesses, whose models are theoretically border-agnostic. Still, if a Bitcoin payments processor wants to attract customers in the US, it has to abide by relevant US laws, as court cases have demonstrated. And if it would rather avoid those headaches, then it has to come up with creative workarounds to disqualify it from US jurisdictions. That is the very basic summary of the Bitcoin....
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The Bitcoin Foundation on Wednesday announced they are releasing what they are calling a 'Primer on the Law of Jurisdiction', which aims to assist both small businesses and start-ups manage their regulatory obligations. The five-page document was commissioned by Robert A. McFarlane, partner and chair of technology law practice at Hanson Bridgett LLP in San Francisco. The primer is designed to help businesses in the digital currency realm avoid making themselves subject "burdensome" regulations that would be considered as unfriendly to both bitcoin and digital currency altogether. The....
My name is Marco Santori. I'm a business attorney for technology companies. In particular, I represent digital currency businesses. I am also the Chairman of the Bitcoin Foundation's Regulatory Affairs Committee. In this multi-part series, I will give a basic primer on the state of US law as it applies to digital currency entrepreneurs. I aim to help bitcoin businesses assess their risks and develop an informed business model. Bitcoin businesses are in a tough spot. Payment startups that once coasted quietly under the regulatory radar are becoming bright, interesting new blips on....
My name is Marco Santori. I'm a business attorney for technology companies. In particular, I represent digital currency businesses. I am also the Chairman of the Bitcoin Foundation's Regulatory Affairs Committee. In this multi-part series, I will give a basic primer on the state of US law as it applies to digital currency entrepreneurs. I aim to help bitcoin businesses assess their risks and develop an informed business model. In the first two parts of the series, we covered the law of money transmission on the federal and state-level in the United States. We learned that not all digital....
The CFTC's fintech wing has published its fourth primer, this time on digital assets. LabCFTC, the fintech-focused office of the Commodity Futures Trading Commission, has published a new intro to digital assets. The "Digital Assets Primer" is dated Dec. 15 but was announced Dec. 17. It includes basic definitions and overviews of digital asset markets, as well as a handy breakdown of the role of the CFTC and other regulators in establishing rules for these markets. The latest primer joins three others released over the course of LabCFTC's lifespan. The earlier, from October 2017, focuses on....
My name is Marco Santori. I'm a business attorney for technology companies. In particular, I represent digital currency businesses. I am also the Chairman of the Bitcoin Foundation's Regulatory Affairs Committee. In this multi-part series, I will give a basic primer on the state of US law as it applies to digital currency entrepreneurs. I aim to help bitcoin businesses assess their risks and develop an informed business model. In Part I, we covered the law of money transmission on the federal level in the United States. We learned about the BSA, AML and KYC. We learned why money....