Search Results: Fintech

New York Department of Financial Services Announces New Virtual Currency Initiatives

On June 24, 2020, New York’s Department of Financial Services (“DFS”) announced a series of steps it is taking to promote development and opportunities in the virtual currency space.  These actions would build upon New York’s “BitLicense,” a virtual currency licensing regime implemented in 2015 that establishes minimum standards for…

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OCC Confirms National Banks and Federal Savings Associations May Provide Cryptocurrency Custody

On July 22, 2020, the Office of the Comptroller of the Currency (OCC) issued an interpretive letter confirming that national banks and federal savings associations (banks) may provide cryptocurrency custody services to customers. The conclusion that banks may provide such services is not surprising, because banks have long provided safekeeping…

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Securities and Exchange Commission v. Bitqyck, Inc., Bruce E. Bise, and Samuel J. Mendez, No. 3:19-cv-2059-N (N.D. TX)

On August 29, 2019, the SEC issued a final judgment as to Bitqyck Inc. (“Bitqyck”) and its founders (Bruce Bise and Sam Mendez) concerning the defendants’ conduct with respect to the sale of digital tokens and the failure to register as a national securities exchange. The order was part of…

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