Troy Jenkins

Aug 20, 2024 | jdsupra.com | Stephen R. Heifetz |Troy Jenkins

Money services businesses (MSBs), a category which includes money transmitters (e.g., PayPal and other payment facilitators), as well as administrators and exchangers of convertible virtual currencies (e.g., Bitcoin exchangers), will have new anti-money laundering (AML) obligations if a proposed new rule is adopted.

Mar 26, 2024 | jdsupra.com | Ben Hoch |Troy Jenkins |Joshua Kaplan

On March 5, 2024, the New York Attorney General (AG) Letitia James sued Yellowstone Capital LLC (Yellowstone) and various affiliates, accusing them of running a predatory lending operation by disguising the loans as purchases of merchants’ future revenues.

Nov 15, 2023 | jdsupra.com | Stephen R. Heifetz |Troy Jenkins

On October 13, 2023, California Governor Gavin Newsomsigned into lawCalifornia Assembly Bill 39,California’s Digital Financial Assets Law(DFAL). DFAL will regulate “digital financial assets” and require companies engaged in a “digital financial asset business activity” to obtain licenses from the California Department of Financial Protection and Innovation (DFPI), subject to certain exceptions, similar to New York’s BitLicense.