On June 3, 2015, the New York State Department of Financial Services (DFS) published its final BitLicense regulation. The regulation requires that firms engaged in “Virtual Currency Business Activity” that involves New York State or a New York resident apply to DFS for a BitLicense within 45 days of its effective date. In this Alert, the authors discuss the impact of the new regulation on businesses engaged in virtual currency transactions.

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Photo of Michael A. Berlin Michael A. Berlin

Michael A. Berlin focuses his practice on financial and insurance regulatory investigations, white collar defense, consumer fraud defense, Medicaid fraud investigations, government affairs, and general litigation matters. In addition, Michael leads Greenberg Traurig’s State Attorney General Practice.

Michael, in addition to his work…

Michael A. Berlin focuses his practice on financial and insurance regulatory investigations, white collar defense, consumer fraud defense, Medicaid fraud investigations, government affairs, and general litigation matters. In addition, Michael leads Greenberg Traurig’s State Attorney General Practice.

Michael, in addition to his work before numerous state and federal authorities, has wide-ranging experience in front of both the New York Attorney General’s office and Attorney Generals’ offices nationwide in both investigations by individual offices and multi-state matters. Michael regularly appears before the New York State Department of Financial Services and other states Insurance and Banking Departments in both regulatory and investigatory matters. Michael also represents numerous health care providers in both federal and state fraud investigations. He conducts internal investigations and represents a wide array of corporations and individuals in complex challenges to government actions.

Photo of William Mack William Mack

William B. Mack is a co-chair of the Financial Regulatory and Compliance Practice. He is experienced in advising companies on regulatory and compliance matters relating to the Securities and Exchange Commission regulations, the Exchange Act, Anti-Money Laundering laws and Financial Industry Regulatory Authority

William B. Mack is a co-chair of the Financial Regulatory and Compliance Practice. He is experienced in advising companies on regulatory and compliance matters relating to the Securities and Exchange Commission regulations, the Exchange Act, Anti-Money Laundering laws and Financial Industry Regulatory Authority (FINRA) rules.

William’s practice involves all aspects of broker-dealer regulation, including Self-Regulatory Organization (SRO) membership, supervision, employment, research, soft dollar arrangements, chaperoning of foreign broker-dealers, social media, use of foreign finders, anti-money laundering rules, alternative trading systems (ATS), exchanges, and market making issues. He also provides regulatory guidance to investment banking clients in connection with securities offerings and related trading issues.