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Virginia-based bank provides Bitcoin access at ATMs

Payments Dive

Virginia-based Blue Ridge Bank is partnering with ATM operator BluePoint ATM Solutions and Bitcoin ATM software provider LibertyX to facilitate access to the cryptocurrency. This announcement comes as banks and regulators appear to be warming to digital assets, and as Bitcoin continues to gain value and attention.

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U.S. Regulations to Consider When Managing a Cryptocurrency Fund

Perficient

For those wanting to start their own cryptocurrency fund, it’s important to be well informed about cryptocurrency regulations. Regulatory cryptocurrency regulations are most fluid at the state level. State Regulations. Central Bank Digital Currency (CBDC) ). Bernegger added that the number of crypto hedge funds is growing daily.

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Virginia federal district court denies motion to dismiss CFPB lawsuit against company providing services to immigrants held in federal detention

CFPB Monitor

The first enforcement action filed by the CFPB under the Biden Administration was a lawsuit filed in a Virginia federal district court jointly with the Attorneys General of Virginia, Massachusetts, and New York against Libre by Nexus, Inc. The Virginia AG argued that the defendant corporations were covered by the VCPA.

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Utah and Virginia enact registration and disclosure requirements for providers of merchant cash advances

CFPB Monitor

Utah and Virginia recently became the first two states to require the registration of providers of merchant cash advances. A recipient” is a person with a principal place of business in Virginia that applies for sales-based based financing and receives a “specific offer” of sales-based financing from a provider.

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Virginia Enacts Law Requiring Licensure of Student Loan Servicers

CFPB Monitor

One Wednesday, Virginia enacted a law that requires student loan servicers to be licensed. While Virginia opened its “Office of the Qualified Education Loan Ombudsman” in 2019, efforts to require licensure of student loan servicers had previously failed.

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This week’s podcast episode: The role of government regulation and the CFPB’s approach, with special guest Cary Coglianese, Professor of Law, University of Pennsylvania Law School, and Director of the Penn Program on Regulation

CFPB Monitor

We first discuss the practicalities and potential impact of implementing Director Chopra’s call in a recent blog post for simplification of consumer finance regulations and simple bright-line rules. West Virginia and consider its implications for future challenges to CFPB actions. To listen to the episode, click here.

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Virginia Sues Online Lender Over Consumer Loans

PYMNTS

Virginia is suing one of the largest online lenders in the U.S. In a 2017 study by the Cleveland Federal Reserve, economists took a rather dim view of the online lending space and the ways in which it recruits and handles its customers, believing additional regulation was needed to rein in some of the excesses their research uncovered.

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