Paul Hastings’ Post

The #California #Cryptobill, also known as the #DigitalFinancialAssetsLaw (AB 39), was signed into law by Governor Gavin Newsom on October 13, 2023. The #law is intended to #safeguard #consumers and promote #innovation within the #blockchain sector. It will take effect on July 1, 2025. The law requires all #cryptocurrency #businesses operating in California to obtain a #license from the California Department of Financial Protection and Innovation (DFPI). The #licensing #process will include a background #check and an #assessment of the business's #financialstability and #securitymeasures. The law also gives the #DFPI broad #authority to #regulate the #cryptocurrencyindustry in #California. This includes the authority to set #rules for #consumerprotection, #antimoneylaundering, and #cybersecurity. The California #Cryptobill has been met with mixed reactions from the #cryptoindustry. Some have praised the law for providing much-needed #clarity and #regulation to the industry in California. Others have criticized the law for being too #burdensome and for #stifling #innovation. #cryptolaw #cryptorules #cryptoregulations #cryptoassets #casps #cryptocompliance #cryptocurrencies #cryptonews #cryptobusiness #crypto

The Law Commission of England and Wales has recognized this challenge and aims to address it with a new approach that could position the United Kingdom as a jurisdiction of choice for decentralized finance (DeFi) and other digital asset structures. By providing legal clarity and certainty, the reforms could unlock the potential of these emerging technologies and attract more participants, investors, and businesses to the U.K. 👉🏼 Read more on: https://lnkd.in/grbZ8h26 #DigitalAssets #VirtualAssets #DecentralizedFinance #DeFi #DigitalTransformation #Blockchain #Fintech #HybridFinance #HyFi #interoperability #tokenization #web3 #digitalrevolution #digitalflighttoquality Hirander Misra GMEX Group ZERO13

#News #crypto #BillMorgan #Gensler #ProXRPLawyer Pro-XRP Lawyer Criticizes Gensler’s Crypto Knowledge: Pro-XRP lawyer Bill Morgan criticizes SEC Chair Gary Gensler’s understanding of cryptocurrencies, citing an MIT professor’s observations despite Gensler teaching a course on Digital Assets. Pro XRP Attorney Bill Morgan has publicly criticized SEC Chair Gary Gensler’s recent actions in the cryptocurrency space, highlighting Gensler’s apparent ignorance of the industry. This critique is based on […] The post Pro-XRP Lawyer Criticizes Gensler’s Crypto Knowledge appeared first on Coinscreed.

On Aug. 25, 2023, the Internal Revenue Service and the Treasury Department issued proposed regulations regarding the sales or exchanges of digital assets, including cryptocurrency. The Proposed Regulations relate to both information reporting requirements and the determination of amount realized, basis, and backup withholding. Read more in this #GTAlert written by Pallav Raghuvanshi, Shira Peleg, and Marvin Kirsner: https://buff.ly/3ErBzVT. #TaxLaw #IRS #DigitalAssets #Blockchain #Cryptocurrency

The IRS and Treasury Department have issued new Proposed Regulations on Digital Assets. This alert, prepared by Shira Peleg, Marvin Kirsner, and me, provides key insights into the recent developments that will impact brokers, trading platforms, payment processors, and real estate transactions involving digital assets. Stay informed and ensure compliance as the digital asset landscape evolves. More details to follow! 💡💰 #Cryptocurrency #TaxRegulations #digitalassets #IRS

Solid action in Wyoming 💪 "Wyoming’s new law will enable blockchain projects to operate within the bounds of applicable laws without compromising their decentralization," New bill would give DAO's legal standing - meaning they can contract with third parties, open bank accounts, appear in court , and pay taxes. #regulation #progress #legal #crypto #blockchain https://lnkd.in/gJVQXqk4

🔥 Stay up to date with the latest trends and events impacting the crypto world! From Bitcoin price movements to blockchain advancements, DeFi innovations, NFT developments, Web3 technologies, and crypto regulations, we've got you covered. Keeping track of the ever-changing crypto ecosystem can be challenging, but we've gathered the highlights of the most significant developments happening today. Read the full article to stay informed: https://lnkd.in/gtyDssr3 Discover key highlights: 1️⃣ U.K. FCA deadline for marketing compliance approaches - Crypto firms urged to comply with new regulations to avoid regulatory action. 2️⃣ Voyager Digital creditors billed $5.1M in legal fees - Insights into the legal costs incurred by the bankrupt crypto brokerage firm. 3️⃣ Winklevoss gives ultimatum to DCG's Barry Silbert - A strong message from Cameron Winklevoss regarding the delayed resolution process. Stay informed, share your thoughts, and join the conversation about the latest crypto developments. Together, let's shape the future of the crypto industry! #marketing #share #digital #future #compliance #events #blockchain #legal #bitcoin

🚀🌐 Ripple, the blockchain-based digital payment network, is making strides in the crypto world! 🎉 They've recently applied for a crypto license in the UK 🇬🇧 and Ireland 🇮🇪 following a partial win against the US Securities and Exchange Commission. 🏛️ Here are the top 5 takeaways from this development: 1️⃣ Ripple's managing director for the UK & Europe, Sendi Young, revealed the company's recent applications for crypto asset firm registration with the UK's FCA and a payment institution license in Ireland. 📝 2️⃣ This move comes after a US court ruled in favor of Ripple, stating that selling XRP on exchanges does not constitute an investment contract. 🏦 3️⃣ Despite the ruling, the court also stated that XRP is a security when sold to institutional investors. 🏢 4️⃣ Ripple has significantly boosted its presence in the UK and Europe, increasing its employees by about 75% over the last 18 months. 📈 5️⃣ While this is a win for Ripple, the fight for regulatory clarity in the crypto industry is far from over. 🥊 This is a huge step for Ripple and a positive sign for the company's growth in the US. 🇺🇸 However, the crypto industry's fight for regulatory clarity is still ongoing. Stay tuned for more updates! 📰 #Ripple #CryptoNews #Blockchain #DigitalPayment #CryptoLicense https://lnkd.in/eEY7Rj6B