Search Results: test Regulatory Guidance

OFAC on Bitcoin—Learning Before Actively Regulating

Before a government agency issues regulations implementing a new law—or applies existing regulations to a new technology—it has to do some groundwork.  The agency will interpret its authorizing legislation and executive orders before gathering evidence to support the exercise of its rulemaking and enforcement authorities.  Some agencies are subject to…

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OFAC Announces Settlement with PayPal for Apparent Sanctions Violations

On March 25, 2015, the Department of the Treasury’s Office of Foreign Assets Controls (OFAC) announced a settlement with electronic funds transfer giant PayPal, Inc. At issue were almost 500 transactions totaling approximately $44,000 in violation of various U.S. sanctions programs, including for Iran, Cuba, Sudan, proliferation of weapons of…

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As ETFs and Virtual Currencies Increase in Popularity, Their Marriage Prompts Regulatory Questions

Since the turn of the century, exchange traded funds (ETFs) have grown from an industry of less than $100 billion to a $2 trillion behemoth. And as virtual currencies such as Bitcoin continue to permeate the mainstream — Overstock.com now accepts payment in Bitcoin, as do thousands of other online…

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