NASAA and CSBS Release Guidance on Virtual Currency

The North American Securities Administrators Association (“NASAA”) and the Conference of State Bank Supervisors (“CSBS”) announced the development of model consumer guidance to assist state regulatory agencies in providing consumers with information about virtual currency and factors that consumers should consider when transacting with or investing in virtual currency.

The model guidance explains what virtual currency is, provides a short list of risks that consumers should consider when investing, and reminds consumers to research what sort of regulation, if any, applies to virtual currency transactions or investments in their states.

See: Model State Consumer and Investor Guidance on Virtual Currency.

 

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