Virtual Currencies Now Permissible Investments in Vermont
Vermont may be known for more than its dairy farms and green mountains these days. This week the state of Vermont’s Governor has signed a new bill into law that applies virtual currencies to ‘permissible investments’ for money transmission businesses regulated by the Department of Financial Regulation. Virtual Currencies Are Now Permissible Investments....
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New cryptocurrency legislation was passed into law North Carolina by Governor Pat McCrory. Signed on July 6, the “Money Transmitters Act” defines virtual currencies as permissible investments, electronic and digital mediums, and digital records. North Carolina Opts for Regulation. This law gives definition and representation to virtual currencies, such....
Bitcoin ATMs have been a growing market worldwide as Bitcoin slowly and consistently gains popularity, and many parts of the United States have joined the technology revolution. Some states in the union are more interested and accommodating than others. New Hampshire has been very pro-Bitcoin within their state's regulatory framework. It appears that their western next door neighbor, Vermont, is not so much. Vermont goes from Hero to Zero. At the heart of the matter is being licensed by the state of Vermont to operate a Bitcoin ATM. Blu-Bin/PYC has been running this Bitcoin ATM at a Church....
Two weeks after his agency held extensive hearings on the subject of regulating virtual currencies, New York Department of Financial Services (NYDFS) superintendent of financial services Benjamin Lawsky has issued statements that provide greater insight into the actions the state may take when it seeks to enact bitcoin legislation this year. Most notably, Lawsky indicated that the NYDFS now feels as though existing money transmission regulation will not be sufficient for virtual currency firms. Further, he suggested the NYDFS could move to mandate that all virtual currencies maintain a....
A bill introduced to the California legislature aims to bring virtual currency businesses more clearly under the state's Money Transmission Act. Penned by Assemblyman Matt Dababneh, chairman of the state's Banking and Finance Committee, AB-1326 would prohibit virtual currency businesses from operating unless they are licensed by the Department of Business Oversight (DBO) or have received an exemption from the agency. Similar to the general financial code, license applicants would need to pay a non-refundable $5,000 fee to register; provide certain identifying information; and keep a....
Virtual reality is an artificial environment that is created with software and presented to the user in such a way that makes it look as a real environment. The virtual reality industry is expanding faster than ever as new investments are being made to support future VR-based applications. The industry is now making big efforts to develop new approaches and new tools to improve the usability and allow anyone to explore the full potential of this new technology. Virtual Reality also seems to be the perfect place to use virtual currencies and now two companies are trying to bring digital....