Search Results: Virtual Currency

An In-Depth Analysis of the CFPB’s Proposed New Rules on Pre-Paid Cards

On Monday, November 17, we briefly discussed the CFPB’s newly proposed prepaid card rules.  Today we elaborate on these newly proposed rules, and their effect on issuers if these new rules are implemented by the CFPB. Scope: The CFPB explained what it considers to be a prepaid card for purposes of…

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GAO Report: Consumer Protections Against Virtual Currency Risks Still Lacking; CFPB Should Step In

On June 26, 2014, the Government Accountability Office (GAO) issued a report entitled “Virtual Currencies: Emerging Regulatory, Law Enforcement, and Consumer Protection Challenges.”  The report discusses the benefits and disadvantages of virtual currency and reviews efforts to date by federal agencies to regulate the virtual currency market.  The report concludes…

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