Uniform Law Commission Approves Model Law Regulating Virtual Currency Business Activities
In July 2017, the Uniform Law Commission (“ULC”) adopted the Uniform Regulation of Virtual-Currency Businesses Act (“VCB Act”) to provide a statutory framework for the regulation of virtual currency activity. Since the creation of the...
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California’s Automatic Renewal Law Tightens Regulations on Free Trials and Online Subscriptions
Over 20 states have laws regulating auto-renewal contracts, but with the recent passage of California’s Senate Bill 313, one of the strictest states will soon implement even more stringent regulations. The Senate Bill, which updates...
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Reciprocity – A New Factor to Restrict Investment from China into the United States?
President Trump’s recent state visit to China, and his remarks at the APEC CEO Summit in Vietnam, refocused attention on the American administration’s priority of promoting fair and reciprocal trade relations among nations. While President...
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NHTSA Issues Updated Automated Driving Systems Guidance
The National Highway Traffic Safety Administration (“NHTSA”) of the United States Department of Transportation (“DOT”) issued Automated Driving Systems: A Vision for Safety on September 12, 2017 (the “2017 Guidance”). This 2017 Guidance updates and...
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China Bans Initial Coin Offerings and Cryptocurrency Trading Platforms
On September 4, 2017, the People’s Bank of China (中国人民银行), Cyberspace Administration of China (国家互联网信息办公室), Ministry of Industry and Information Technology (工业和信息化部) (“MIIT”), State Administration for Industry and Commerce (国家工商总局) (“SAIC”), China Banking Regulatory Commission...
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China Further Tightens Control of Outbound Direct Investment
On September 4, 2017, the People’s Bank of China (中国人民银行), Cyberspace Administration of China (国家互联网信息办公室), Ministry of Industry and Information Technology (工业和信息化部) (“MIIT”), State Administration for Industry and Commerce (国家工商总局) (“SAIC”), China Banking Regulatory Commission...
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China Releases Proposed Guidelines for Cross-Border Data Transfer Security Assessment
On May 27, 2017, the National Information Security Standardization Technical Committee (全国信息安全标准化技术委员会) published for public comment a draft of the proposed Guidelines for Cross-Border Data Transfer Security Assessment (数据出境安全评估指南) (the “Draft Security Assessment Guidelines”). The...
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China to Strengthen the Regulatory Oversight of Cloud Services
On March 30, 2017, the Ministry of Industry and Information Technology (the “MIIT”) released the Cloud Computing Three-Year Development Plan (2017-2019) (云计算发展三年行动计划 (2017-2019)) (the “Three Year Plan”) to promote the development of China’s emerging cloud...
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China’s New Digital Game Treasure Box Rules Become Effective
On May 1, 2017, the Notice on Regulating Online Game Operation and Strengthening Concurrent and Ex-Post Supervisions (文化部关于规范网络游戏运营加强事中事后监管工作的通知) (the “New Game Operation Rules”) came into effect. The New Game Operation Rules, together with an official...
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