Financial Services Blog

Showing 22 posts in Operations & Transactions.

Bitcoin ATMs: What They Are and How They Work

The traditional ATM is a truly ubiquitous part of our culture. Although the first American ATM was not installed until the fall of 1969 in New York City, most Americans, regardless of geography, probably cannot imagine life without the ease and convenience they provide. And this story is now likely to be repeated with Bitcoin ATMs. Read More ›

Legal Issues of Owning and Operating a Bitcoin ATM Business

As previously discussed, Bitcoin ATMs are a growing industry, offering consumers great flexibility in exchanging Bitcoin tokens for cash, or purchasing Bitcoin tokens for cash, via standalone kiosks. Many merchants are starting to get on-board with owning, or leasing space to, Bitcoin ATMs as a way to serve an expanding market. Read More ›

Launching an ICO? Follow This Advice from the SEC

Lost in the headlines over the SEC’s recent pronouncements on cryptocurrency was important practical advice for both promoters of and participants in initial coin offerings (ICOs). Read More ›

FinCEN Cracks-Down on Yet Another Alleged Illegitimate Virtual Currency Exchange, Raising More Concerns for Legitimate Exchanges

The Financial Crimes Enforcement Network (FinCEN) takes first action against a foreign-located money service business

 A bad week for exchanges keeps getting worse. Read More ›

Initial Coin Offering Risk Factors: More Than Just Legalese

This article was originally published on July 7, 2017 in Bitcoin Magazine, a subsidiary of BTC Media, LLC.

Initial Coin Offerings (ICOs) are where cryptographic computing and federal securities laws collide. As investors lacking the technical expertise of early market entrants throw their money into cryptocurrency presales, regulatory agencies like the U.S. Securities and Exchange Commission cannot be expected to sit on the sidelines much longer. Read More ›

What Prepaid Accounts Are Subject to the New Prepaid Rules? What you need to know to be ready.

Prepaid cards are increasingly popular—they are frequently used instead of traditional bank accounts to shop, withdraw cash from ATMs, pay for healthcare costs from health savings accounts, distribute natural disaster aid, and pay wages. Read More ›

Fintech Companies are No Longer in “Uncharted” Territory

The Office of the Comptroller of the Currency (OCC), a subset of the U.S. Treasury Department, recently announced that it will create a special purpose national bank charter specifically for financial technology (fintech) companies. This announcement comes on the heels of the rapid rise in fintech and in the number of companies that use such technology. An official charter aims to supervise the more than 4,000 fintech companies more closely and provide a framework for new companies to operate in the financial services industry.  Read More ›

The Medieval Economics of Cryptocurrency

Medieval kings have something in common with cutting-edge software developers forking new applications off the blockchain. Read More ›

ICOs: Cloud-Based But Likely Grounded in Regulations

Initial coin offerings (ICOs) are garnering substantial attention as investors hope their digital coins will soon be worth more than gold and software developers envision them as a way to boot-strap financing.  Read More ›

A House Divided: U.S. District Court Splits on Whether Class Has a Private Right of Action Against “Money Transmitters”

Two class action lawsuits, Hucke v. Kubra Data Transfer LTD., Corp., No. 2-15-cv-14232-RLR, and  Pincus v. Speedpay, Inc. Case No. 9:15-cv-80164-KAM, [1] in the U.S. District Court for the Southern District of Florida, seek the determination of whether two credit card processors violated the following Florida statues: Read More ›

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Attorney Spotlight

Christopher C. Tieke is an associate in Frost Brown Todd's Louisville office, focusing his practice on business litigation. He graduated from the University of Cincinnati College of Law, with magna cum laude honors; served as an Associate Member of the University of Cincinnati Law Review; and participated in the Entrepreneurship and Community Development Clinic.

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