Developments in the Law Affecting Electronic Payments and Financial Services
The Business Lawyer. Vol. 74. Issue 1. (2019)
13 Pages Posted: 10 Apr 2019
Date Written: 2019
This short article surveys developments in the law affecting electronic payments and financial services from June 1, 2017 to June 1, 2018. During this period, significant developments occurred that affected the regulation of initial coin offerings (ICOs), the Office of the Comptroller of the Currency’s proposal to issue “special purpose national bank charters” to FinTech companies, the CFPB’s final regulation of prepaid, general-purpose cards, state regulation of payroll cards, and how lawyers taking cryptocurrencies from clients as payment for services or for safekeeping should protect them. The survey also presents newly issued BitLicenses under the New York Department of Financial Services’ 2015 “BitLicense” regulation.
Keywords: Electronic financial payments, Prepaid cards Payroll cards, Initial coin offerings, ICOs, FinTech, Cryptocurrency, Cryptocurrency intermediaries, Cyberspace, FinTech national bank charters, BitLicense, Lawyers and cryptocurrencies
JEL Classification: A1, E00, E20, E30, E50
Suggested Citation: Suggested Citation