On September 10, 2018, the New York Department of Financial Services authorized Gemini Trust Company and Paxos Trust Company to each offer a price-stable cryptocurrency, also known as a stablecoin, pegged to the U.S. dollar.
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Compliance
National Bank Regulator Announces FinTech Charter
Recently, the federal Office of the Comptroller of the Currency announced that it is now accepting applications for national bank charters from nondepository banking institutions. Continue reading for a link to our detailed client alert on the parameters of the charter.
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India’s Draft Data Privacy Law Issued
On July 27, 2018, the Justice BN Srikrishna committee, formed by the Indian government in August 2017 with the goal of introducing a comprehensive data protection law in India, issued a report and draft data protection bill. The Bill has been submitted for consideration to the Ministry of Electronics and Information Technology and is expected to be introduced in Parliament at a later date.
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AML and Sanctions Compliance Issues Facing Cryptocurrency Companies
In an article written by Hunton Andrews Kurth lawyers in Crowdfund Insider, Richard Garabedian and Shaswat Das discuss the Financial Crimes Enforcement Network’s enforcement actions and related compliance issues. This blog contains a link to the full article. …
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