Ensuring Compliance with the Increasingly Aggressive State Regulatory and Enforcement Framework Governing Emerging Payment Systems: Bit Licenses, New Issues Relating to State Money Transmitter Licenses (Including the Examination Process),

July 28, 2016 1:35pm

Judith Rinearson
Bryan Cave LLP

Kara A. Kuchar
Special Counsel
Schulte Roth & Zabel LLP

Jon Genovese
Regulatory & Government Affairs

Jan Lynn Owen
California Department of Business Oversight

  • State licensing requirements for virtual currencies
  • Perspectives on the policies behind money transmission laws, regulations, and licensing requirements
  • Assessing the key issues and pitfalls relating to money transmission
  • Issues arising from state regulation and enforcement orders for money transmitters
  • How various payment models relate to money transmission
  • Costs and difficulties associated with obtaining licenses in multiple jurisdictions
  • Avoiding state licensing requirements
  • Money transmission as payment processing and issues related to this
  • Fallout from California’s money transmission law and impact on the payments market
  • Which states are the most active in the area of emerging payments?
  • Abandoned property nuances
  • Can state regulations and government resources keep up with the evolving technology of new payment products?
  • Overcoming the challenge of complying with the increasing body of state consumer protection laws, especially those that are ambiguous in their application to emerging payment systems
  • Which, if any, state regulations are unduly burdening innovation without providing significant consumer protections?
  • Complying with varied state consumer information collection requirements