Sentences with phrase «currency business regulation»

As more states begin to enact legislation regulating virtual currency businesses, those watching and working in this arena have begun to question whether California will make another attempt to enact virtual currency business regulation.

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.

Something a bit less sexy than its flashy name suggests: it's the set of regulations that will govern digital currency businesses operating in New York State.

the Company is also subject to a number of additional risks associated with its business outside the United States, including foreign currency exchange fluctuations and restrictive regulations as well as the risks and uncertainties associated with the United Kingdom's withdrawal from the European Union;

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.

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

New York's virtual currency regulation requires a virtual currency business to obtain a «BitLicense» in order to operate within the state.

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.

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.

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

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.

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.

The New York State Legislature gave supervision and regulation authority to the New York Department of Financial Services, which requires virtual currency businesses operating within the state to have a BitLicense.

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).

On January 4, 2016, Chino's application was returned without further proceeding because the DFS said it was «unable to evaluate whether [Chino's] current or planned business activity would be considered Virtual Currency Business Activity that requires licensing under the Regulationbusiness activity would be considered Virtual Currency Business Activity that requires licensing under the RegulationBusiness Activity that requires licensing under the Regulation.»

The regulation seeks to harmonize state laws for businesses that utilize virtual currencies as monetary tools, and includes provisions for licensing requirements, reciprocity, consumer protection, cybersecurity, anti-money laundering, and licensee supervision.

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.

For example, both of those laws apply to all virtual currency businesses with the scope of the regulations, regardless of their size.

Factors that could cause actual results to differ materially from those expressed or implied in any forward - looking statements include, but are not limited to: changes in consumer discretionary spending; our eCommerce platform not producing the anticipated benefits within the expected time - frame or at all; the streamlining of the Company's vendor base and execution of the Company's new merchandising strategy not producing the anticipated benefits within the expected time - frame or at all; the amount that we invest in strategic transactions and the timing and success of those investments; the integration of strategic acquisitions being more difficult, time - consuming, or costly than expected; inventory turn; changes in the competitive market and competition amongst retailers; changes in consumer demand or shopping patterns and our ability to identify new trends and have the right trending products in our stores and on our website; changes in existing tax, labor and other laws and regulations, including those changing tax rates and imposing new taxes and surcharges; limitations on the availability of attractive retail store sites; omni - channel growth; unauthorized disclosure of sensitive or confidential customer information; risks relating to our private brand offerings and new retail concepts; disruptions with our eCommerce platform, including issues caused by high volumes of users or transactions, or our information systems; factors affecting our vendors, including supply chain and currency risks; talent needs and the loss of Edward W. Stack, our Chairman and Chief Executive Officer; developments with sports leagues, professional athletes or sports superstars; weather - related disruptions and seasonality of our business; and risks associated with being a controlled company.

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.

Many factors could cause BlackBerry's actual results, performance or achievements to differ materially from those expressed or implied by the forward - looking statements, including, without limitation: BlackBerry's ability to enhance its current products and services, or develop new products and services in a timely manner or at competitive prices, including risks related to new product introductions; risks related to BlackBerry's ability to mitigate the impact of the anticipated decline in BlackBerry's infrastructure access fees on its consolidated revenue by developing an integrated services and software offering; intense competition, rapid change and significant strategic alliances within BlackBerry's industry; BlackBerry's reliance on carrier partners and distributors; risks associated with BlackBerry's foreign operations, including risks related to recent political and economic developments in Venezuela and the impact of foreign currency restrictions; risks relating to network disruptions and other business interruptions, including costs, potential liabilities, lost revenues and reputational damage associated with service interruptions; risks related to BlackBerry's ability to implement and to realize the anticipated benefits of its CORE program; BlackBerry's ability to maintain or increase its cash balance; security risks; BlackBerry's ability to attract and retain key personnel; risks related to intellectual property rights; BlackBerry's ability to expand and manage BlackBerry ® World ™; risks related to the collection, storage, transmission, use and disclosure of confidential and personal information; BlackBerry's ability to manage inventory and asset risk; BlackBerry's reliance on suppliers of functional components for its products and risks relating to its supply chain; BlackBerry's ability to obtain rights to use software or components supplied by third parties; BlackBerry's ability to successfully maintain and enhance its brand; risks related to government regulations, including regulations relating to encryption technology; BlackBerry's ability to continue to adapt to recent board and management changes and headcount reductions; reliance on strategic alliances with third - party network infrastructure developers, software platform vendors and service platform vendors; BlackBerry's reliance on third - party manufacturers; potential defects and vulnerabilities in BlackBerry's products; risks related to litigation, including litigation claims arising from BlackBerry's practice of providing forward - looking guidance; potential charges relating to the impairment of intangible assets recorded on BlackBerry's balance sheet; risks as a result of actions of activist shareholders; government regulation of wireless spectrum and radio frequencies; risks related to economic and geopolitical conditions; risks associated with acquisitions; foreign exchange risks; and difficulties in forecasting BlackBerry's financial results given the rapid technological changes, evolving industry standards, intense competition and short product life cycles that characterize the wireless communications industry.

The proposed regulations will affect businesses that function as exchanges or otherwise convert Bitcoin into currency, even if those businesses are out of state and... Read more»

The guidance applies only to convertible virtual currency and generally provides that administrators and exchangers of convertible virtual currency are money transmitters and therefore are money services businesses under the regulations, subject to any applicable limitation or exemption.

As millions of individuals, businesses and investors are already actively engaged with digital currencies; and as governments begin to share guidance and promulgate regulations — there is no shortage of demand for competent professional advice.

Financial regulations often create hindrances to business expansion plans of the traditional stock brokers and also those in the crypto currency markets.

The Regulations extend across all virtual currency services and activities for both individuals and businesses including market - makers, mining operators, trading platforms and wallets.»

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.

* AIS does not serve clients that are registered Money Servicing Businesses (MSB) or who's primary residence is in Hawaii, New York, North Carolina, Washington or Wyoming due to those states difficult regulations around Digital Currency.

Today, BitPay submitted our response to the New York Department of Financial Services» (NYDFS) proposed regulations for virtual currency business activities, and we would like to share our themes and full response.

FinCEN has stated that «exchangers» and «administrators» in the virtual currency ecosystem are considered money transmitters (a category of Money Service Businesses), and are therefore required to register with FinCEN and comply with AML regulations.

«Internationally, it is considered that the extension of AML / CTF regulation to include convertible digital currency exchanges would encourage innovation and investment by ensuring service providers have greater certainty and security in their dealings with digital currency businesses, while reducing the money laundering and terrorism financing risks associated with this emerging technology.»

These include the risks of currency fluctuation, of political and economic instability and of less well - developed government supervision and regulation of business and industry practices, as well as differences in accounting standards.

Therefore, companies doing business with digital currencies with U.S. investors might be in violation of U.S. securities laws and may be required to register with the SEC and to comply with applicable securities regulations.

The policy reviews that Nizam oversaw at MAS included: (1) revamp of regulatory framework on markets / recognized market operators, (2) dual currency investments, (3) credit card solicitation rules, (4) disclosure requirements for investment products, (5) rationalisation of wholesale / retail investors, (6) extra-territorial application, (7) regulation of traded life / endowment policies, (8) civil penalty regime for market misconduct, (9) review of insider trading, (10) licensing and business conduct issues, (11) policies behind regulation capital markets intermediaries, (12) implementation of recommendations of Corporate Law and Regulatory Framework Committee (CLRFC).

These regulations for cryptocurrency exchanges have designed more as a law, which will mandate that digital currency exchange businesses are in compliance with the country's AML / CTF requirements.

Authorities in Japan are working on a proposal that could pave the way for the regulation of virtual currency business in the country.

The discussion concluded with members agreeing to share information on the use of standards markets in financial regulation, a new set of Professional & Business Services Council regulatory principles, and the 2015 States of Jersey consultation on regulation of crypto - currencies, blockchains, and mutual distributed ledgers.

While the law governing virtual currency businesses will continue to evolve, itBit has adopted the trust company model, in part, because being subject to bank - like regulation means it will already be complying with the most rigorous regulatory standards.

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.

«We do not currently require bitcoin exchanges to register for supervision under the money laundering regulations... A bureau de change doing exchange businesses in other currencies as well as bitcoin must register in the normal way for non-bitcoin businesses,» a HMRC press officer wrote in response to questions from CoinDesk.

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State regulators were given the power to create rules and regulations for all virtual currency businesses with the passage of HB 811, which Governor Nathan Deal signed on April 04, 2016.

For example, one advisory point states «an administrator or exchanger that accepts and transmits a convertible virtual currency or buys or sells convertible virtual currency for any reason is a money transmitter under federal regulations and therefore should be registered as a money services business.»

The former New York State Superintendent of Financial Services Benjamin Lawsky left the NYDFS after releasing the controversial Bitlicense regulations for digital currency businesses operating in New York.

In his testimony today, he will argue that the Foundation saw the introduction of FinCEN's guidance on virtual currencies in March as a signal that «existing regulation covers most of the business activity taking place in the bitcoin ecosystem».

According to Bobrovich, the regulation could also create additional streams of revenue for local businesses, as for instance, «advertisement agencies will be allowed to accept cryptocurrency payments in fiat currencies.»

On 24 June 2015, the New York State Register officially published the final «Regulation of the Conduct of Virtual Currency Businesses.»

On the 12th of February Business Korea quoted an official from the government ministry participating in a virtual currency task force who said: «We are positively considering the adoption of an exchange approval system as the additional regulation on cryptocurrencies.

«Generally, under existing regulations and interpretations, a developer that sells convertible virtual currency, including in the form of ICO coins or tokens, in exchange for another type of value that substitutes for currency is a money transmitter and must comply with AML / CFT requirements that apply to this type of MSB [money services business].»