Sentences with phrase «currency businesses act»

Moving forward, Fred Miller, Chair of the Uniform Regulation of Virtual Currency Businesses Act, tells ETHNews that once the language of the model law is fine - tuned by ULC's style committee, it will be presented to the House of Delegates of the American Bar Association (ABA) for approval.

Most recently, Llew Claasen, Executive Director of the Bitcoin Foundation, pleaded to the National Conference of State Legislators, a bipartisan non-governmental organization that represents staff and members of American state legislatures, to reject any and all proposed legislation modeled after the Uniform Regulation of Virtual Currency Businesses Act.

One of the topics that will be discussed is the proposed Uniform Regulation of Virtual Currency Businesses Act.

At the end of the day, ambitious endeavors like the Uniform Regulation of Virtual Currency Businesses Act can only be profitable for American consumers and entrepreneurs if both US officials and innovators can get on the same page.

The Uniform Law Commission (ULC) will commence with their vote on the proposed Uniform Regulation of Virtual Currency Businesses Act.

This week, the Uniform Law Commission (ULC), an organization that works to develop legislation to promote uniformity and clarity among all states, considered the Uniform Regulation of Virtual Currency Business Act (the Act).

Next month, the Virtual Currency Business Act is scheduled for discussion, covering areas such as ICOs, virtual currency exchanges, wallets and virtual currency services vendors.

The Uniform Law Commission, a non-profit association that aims to bring clarity and cohesion to state legislation, has drafted the Uniform Regulation of Virtual Currency Business Act, which several states are contemplating introducing in upcoming legislative sessions.

Not exact matches

Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost of accommodating, announced increases in the build rates of certain aircraft; 6) the effect on aircraft demand and build rates of changing customer preferences for business aircraft, including the effect of global economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result of global economic uncertainty or otherwise; 8) the effect of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.

Such risks, uncertainties and other factors include, without limitation: (1) the effect of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels of end market demand in construction and in both the commercial and defense segments of the aerospace industry, levels of air travel, financial condition of commercial airlines, the impact of weather conditions and natural disasters and the financial condition of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; (3) the scope, nature, impact or timing of acquisition and divestiture or restructuring activity, including the pending acquisition of Rockwell Collins, including among other things integration of acquired businesses into United Technologies» existing businesses and realization of synergies and opportunities for growth and innovation; (4) future timing and levels of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope of future repurchases of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level of other investing activities and uses of cash, including in connection with the proposed acquisition of Rockwell; (7) delays and disruption in delivery of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits of organizational changes; (11) the anticipated benefits of diversification and balance of operations across product lines, regions and industries; (12) the outcome of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact of the negotiation of collective bargaining agreements and labor disputes; (15) the effect of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.

«From the date of release of this Notice, any so - called platform that provide trading and exchange services for coin offering shall not engage in exchange businesses between legal tender and token or «virtual currency»; or engage in proprietary trading activities or trading as an central counterparty of tokens or «virtual currencies»; or provide pricing services or act as information intermediary for tokens or «virtual currencies.»»

According to the draft, the act's purpose is to «create a statutory structure for regulating the «virtual currency business activity» of person offering services or products to residents of enacting states.»

The Virtual Currency Act was passed with some of the same burdensome licensing requirements as that of the BitLicense: a $ 5,000 initial application fee followed by annual assessment fees, a lengthy list of application requirements, no reciprocal licensing clause, and broad definitions for virtual currency and virtual currency bCurrency Act was passed with some of the same burdensome licensing requirements as that of the BitLicense: a $ 5,000 initial application fee followed by annual assessment fees, a lengthy list of application requirements, no reciprocal licensing clause, and broad definitions for virtual currency and virtual currency bcurrency and virtual currency bcurrency business.

The ULC's decision is expected to come out today, and if adopted, the model act will send shockwaves through the virtual currency industry and could potentially establish a foundation for virtual currency enterprises to engage in business without doubt and ambiguity.

As set forth below, the Act improves upon the New York and North Carolina regulations by striking a balance that allows virtual currency businesses to innovate and grow, while also providing important consumer safeguards.

While the Money Transmitters Act does make significant strides in enacting a more business - friendly regulatory scheme, it still poses difficulties for virtual currency businesses in North Carolina as there are cumbersome and costly requirements with no reciprocity or provisional licensing opportunities.

Matthew's practice also includes acting for businesses and individuals involved in digital currency.

The Act addresses many of the shortcomings in previous attempts to regulate virtual currency businesses, such as the rigid licensing requirements in New York and North Carolina.

The proposed act claims that virtual currency business activities are similar to money transmitter services, and would require comparable regulations and licensing in order to fulfill consumer protection requirements.

Such risks and uncertainties include, but are not limited to: our ability to achieve our financial, strategic and operational plans or initiatives; our ability to predict and manage medical costs and price effectively and develop and maintain good relationships with physicians, hospitals and other health care providers; the impact of modifications to our operations and processes; our ability to identify potential strategic acquisitions or transactions and realize the expected benefits of such transactions, including with respect to the Merger; the substantial level of government regulation over our business and the potential effects of new laws or regulations or changes in existing laws or regulations; the outcome of litigation, regulatory audits, investigations, actions and / or guaranty fund assessments; uncertainties surrounding participation in government - sponsored programs such as Medicare; the effectiveness and security of our information technology and other business systems; unfavorable industry, economic or political conditions, including foreign currency movements; acts of war, terrorism, natural disasters or pandemics; our ability to obtain shareholder or regulatory approvals required for the Merger or the requirement to accept conditions that could reduce the anticipated benefits of the Merger as a condition to obtaining regulatory approvals; a longer time than anticipated to consummate the proposed Merger; problems regarding the successful integration of the businesses of Express Scripts and Cigna; unexpected costs regarding the proposed Merger; diversion of management's attention from ongoing business operations and opportunities during the pendency of the Merger; potential litigation associated with the proposed Merger; the ability to retain key personnel; the availability of financing, including relating to the proposed Merger; effects on the businesses as a result of uncertainty surrounding the proposed Merger; as well as more specific risks and uncertainties discussed in our most recent report on Form 10 - K and subsequent reports on Forms 10 - Q and 8 - K available on the Investor Relations section of www.cigna.com as well as on Express Scripts» most recent report on Form 10 - K and subsequent reports on Forms 10 - Q and 8 - K available on the Investor Relations section of www.express-scripts.com.

Ideally, many or all states will, in the future, adopt the Act's uniform set of rules, which provide consumers with the necessary protections regardless of where they and the virtual currency companies with which they do business are located.

The recently enacted North Carolina Money Transmitters Act takes a more business - friendly approach to regulating virtual currency businesses than the stringent New York BitLicense regulation to the extent that it defines virtual currency and many other necessary terms so that businesses have more guidance in navigating the legislation.

The act seeks to establish a foundation for virtual currency businesses by providing individual states with a common regulatory guide for issues such as licensing requirements; reciprocity; consumer protection; cybersecurity; anti-money laundering; and supervision of licensees.

On 18 March 2013, the Financial Crimes Enforcement Network (or FinCEN), a bureau of the United States Department of the Treasury, issued a report regarding centralized and decentralized «virtual currencies» and their legal status within «money services business» (MSB) and Bank Secrecy Act regulations.

First, the Australian government has made a recommendation for an amendment to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 that would allow the Australian Transaction Reports and Analysis Centre to regulate businesses that use digital currencies in order to combat anti-money laundering (AML) and counter-terrorism financing (CTF).

Examples of these risks, uncertainties and other factors include, but are not limited to the impact of: adverse general economic and related factors, such as fluctuating or increasing levels of unemployment, underemployment and the volatility of fuel prices, declines in the securities and real estate markets, and perceptions of these conditions that decrease the level of disposable income of consumers or consumer confidence; adverse events impacting the security of travel, such as terrorist acts, armed conflict and threats thereof, acts of piracy, and other international events; the risks and increased costs associated with operating internationally; our expansion into and investments in new markets; breaches in data security or other disturbances to our information technology and other networks; the spread of epidemics and viral outbreaks; adverse incidents involving cruise ships; changes in fuel prices and / or other cruise operating costs; any impairment of our tradenames or goodwill; our hedging strategies; our inability to obtain adequate insurance coverage; our substantial indebtedness, including the ability to raise additional capital to fund our operations, and to generate the necessary amount of cash to service our existing debt; restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business; the significant portion of our assets pledged as collateral under our existing debt agreements and the ability of our creditors to accelerate the repayment of our indebtedness; volatility and disruptions in the global credit and financial markets, which may adversely affect our ability to borrow and could increase our counterparty credit risks, including those under our credit facilities, derivatives, contingent obligations, insurance contracts and new ship progress payment guarantees; fluctuations in foreign currency exchange rates; overcapacity in key markets or globally; our inability to recruit or retain qualified personnel or the loss of key personnel; future changes relating to how external distribution channels sell and market our cruises; our reliance on third parties to provide hotel management services to certain ships and certain other services; delays in our shipbuilding program and ship repairs, maintenance and refurbishments; future increases in the price of, or major changes or reduction in, commercial airline services; seasonal variations in passenger fare rates and occupancy levels at different times of the year; our ability to keep pace with developments in technology; amendments to our collective bargaining agreements for crew members and other employee relation issues; the continued availability of attractive port destinations; pending or threatened litigation, investigations and enforcement actions; changes involving the tax and environmental regulatory regimes in which we operate; and other factors set forth under «Risk Factors» in our most recently filed Annual Report on Form 10 - K and subsequent filings by the Company with the Securities and Exchange Commission.

If passed, the Bill would enact the Virtual Currency Act that would require virtual currency businesses to obtain a license from the Commissioner of Business Oversight («Commissioner») in order to operate within thCurrency Act that would require virtual currency businesses to obtain a license from the Commissioner of Business Oversight («Commissioner») in order to operate within thcurrency businesses to obtain a license from the Commissioner of Business Oversight («Commissioner») in order to operate within the state.

«Truly innovative business models don't need to resort to old - fashioned law - breaking, and when Bitcoins, like any traditional currency, are laundered and used to fuel criminal activity, law enforcement has no choice but to act,» Bharara said.

Purchase or sell commodities (unless acquired as a result of ownership of securities or other investments) or commodity futures contracts, except that the Fund may purchase and sell futures contracts and options to the full extent permitted under the 1940 Act, sell foreign currency contracts in accordance with any rules of the Commodity Futures Trading Commission, invest in securities or other instruments backed by commodities, and invest in companies that are engaged in a commodities business or have a significant portion of their assets in commodities; or

121 (1) Subject to subsections (3) and (4), where a person obtains an order to enforce an obligation in a foreign currency, the order shall require payment of an amount in Canadian currency sufficient to purchase the amount of the obligation in the foreign currency at a bank in Ontario listed in Schedule I to the Bank Act (Canada) at the close of business on the first day on which the bank quotes a Canadian dollar rate for purchase of the foreign currency before the day payment of the obligation is received by the creditor.

If passed, the Bill would enact the Virtual Currency Act that would require virtual currency businesses to obtain a license from the Commissioner of Business Oversight («Commissioner») in order to operate within thCurrency Act that would require virtual currency businesses to obtain a license from the Commissioner of Business Oversight («Commissioner») in order to operate within thcurrency businesses to obtain a license from the Commissioner of Business Oversight («Commissioner») in order to operate within the state.

«The California Department of Business Oversight has not decided whether to regulate virtual currency transactions, or the businesses that arrange such transactions, under the state's Money Transmission Act.

As reported earlier this year, the Australian Treasury has eliminated a goods - and - services tax on bitcoin purchases, an act that the Australian government noted will foster digital currency business development in the country.

In accordance with the New York State Administrative Procedure Act (SAPA), the final DFS rules for virtual currency business activity have been published in the New York State Register's June 24, 2015 edition.

The Act aims to spell out which virtual currency activities are money transmission businesses, and what type of license they would require.

In the Wyden Letter, FinCEN ostensibly reiterates its position that that virtual currency developers and other businesses that sell virtual currency are Money Services Businesses (specifically money transmitters) under the Bank Secrecy Act and thbusinesses that sell virtual currency are Money Services Businesses (specifically money transmitters) under the Bank Secrecy Act and thBusinesses (specifically money transmitters) under the Bank Secrecy Act and that they ``

In the Wyden Letter, FinCEN ostensibly reiterates its position that that virtual currency developers and other businesses that sell virtual currency are Money Services Businesses (specifically money transmitters) under the Bank Secrecy Act and that they «must comply with AML / CFT requirements that apply to this type of Mbusinesses that sell virtual currency are Money Services Businesses (specifically money transmitters) under the Bank Secrecy Act and that they «must comply with AML / CFT requirements that apply to this type of MBusinesses (specifically money transmitters) under the Bank Secrecy Act and that they «must comply with AML / CFT requirements that apply to this type of MSB.»

Both of these failed bills would have enacted a «Virtual Currency Act» which would «prohibit a person from engaging in any virtual currency business, as defined, in this state unless the person is licensed by the Commissioner of Business OversightCurrency Act» which would «prohibit a person from engaging in any virtual currency business, as defined, in this state unless the person is licensed by the Commissioner of Business Oversightcurrency business, as defined, in this state unless the person is licensed by the Commissioner of Business Oversightbusiness, as defined, in this state unless the person is licensed by the Commissioner of Business OversightBusiness Oversight.»

In June 2015, Gov. Dannel Malloy signed into law HB 6800 which amends Connecticut's Money Transmission Act by requiring any businesses that transmit virtual currency to obtain a license from the Department of Banking.

Virtual currency exchanges are now listed as «designated businesses» that have to comply with the Act on Prevention of Transfer of Criminal Proceeds» anti-money laundering provision, verification of new account identity provision, and reporting of suspicious reporting provision.

The acting comptroller of the currency for the U.S. Treasury Department has said he is open to the idea that banks might one day conduct business in bitcoin and other cryptocurrencies.

Issued last month, the FinCEN guidance requires intermediaries that handle virtual currency to register as money services businesses and to follow reporting and record - keeping regulations under the Bank Secrecy Act (BSA), including know - your - customer (KYC) and anti-money laundering (AML) requirements.

2A Virtual Currency Exchange is defined as an entity that conducts any of the following businesses (according to the Payment Services Act, Article 2, Section 7)

According to the Coinbase Legal Team, «the Hawaii Division of Financial Institutions (DFI) has stated that digital currency businesses operating in Hawaii are required to be licensed under the state's Money Transmission Act.