Reviewed token and business model for Crypto.com and compliance under applicable laws. Singapore cryptocurrency exchange expanding to United States required U.S. compliance advice.
Provided regulatory and compliance advice to national bill payment solution provider. Review of the Client’s payment models under state and federal money transmitter laws, focusing on the integration methods, including the transaction processing and settlement options utilized by the Client to assess whether the Client’s payment models are properly identified as regulated or not. Advise Client on implementation of identified improvements and adjustments to the Client’s payment models, which is anticipated to have a positive impact the Client’s bottom line and will streamline the Client’s overall regulatory compliance efforts.
Advising a global payment facility provider about the Australian regulation of non-cash payment facilities and assisting it to respond to inquiries from ASIC.
InfiniGold wished to launch the world's first gold-backed stable coins with the gold held by a government guaranteed custodian, The Perth Mint (wholly owned by the government of Western Australia). Regulatory treatment of cryptographic tokens is complex and not yet well settled in Australia. Stable tokens, and their trading on global markets, create additional layers of complexity. Our team leveraged our hands-on, practical knowledge of financial services regulation to develop a token structure for InfiniGold which provided a simple compliant solution to these regulatory challenges. The structure needed to satisfy not just InfiniGold and its shareholders, but also The Perth Mint and other counterparties. The advice we provided enabled InfiniGold to launch their token on schedule, with much international media attention.
Served as regulatory counsel to a non-fungible token (NFT) issuer and marketplace. We worked closely with the client as it built its service and products to counsel them on money transmitter laws, FinCEN/anti-money laundering obligations, and securities issues.
Assisting a transnational payment facility provider with obtaining regulatory advice in multiple foreign jurisdictions.
Assisting financial advisers and AFSL licensees respond to inquiries from ASIC.
Advised Invoice Interchange on the launch of an online peer-to-peer financing platform that will allow Australian businesses to raise short-term finance by offering their trade receivables for sale and will allow Australian investors to obtain fixed-interest returns by providing trade-receivable financing through the platform.
Advised s a fintech start-up company in its partnership with a sponsoring bank. Helped the client to achieve its vision to bring financial services to families and provide app-based banking tools to Generations Z and Alpha. The digital financial ecosystem developed and offered by this fintech client is intended to bridge the gap in the market that exists in meeting the needs of 13-18-year olds who use mobile apps daily, all while teaching and advancing financial literacy.
Regulatory and contractual advice on launch of push payments and real-time instant payments strategy and implementation. This fintech has become a leader in providing extensive payment options for fast and efficient disbursement of payments to consumers. Our advice helped In the client to navigate the complex regulatory issues involved. We served as chief regulatory counsel for its latest enhancements, and have been providing ongoing regulatory and contractual advice for many years.
Serve as payments regulatory counsel to private equity firm in its investment in various fintechs, including payment processors and bill payment companies. Provided regulatory due diligence. Continue to serve as payments regulatory counsel to the target entities in an ongoing capacity.
Planning and executing the U.S. expansion of a successful EU payments platform that provides an innovative over-the-top banking platform that consolidates multiple cards and accounts into one smart card with mobile app functionality. Customers can manage all spending across all accounts using the client's App. Launching U.S. operations is an essential and strategic part of the client's growth plans and we are lead regulatory and contracting counsel.
Provided in-depth advice to global European ticket sales company on U.S. AML compliance issues, US money transmitter licensing issues and EU PSD2 issues.
Represented global human resources software and services company on a new proposed payroll product with respect to payroll compliance issues as well as lending, licensing, and AML rules.
Represented and successfully negotiated settlements on behalf of multiple payments related clients with respect to regulatory money transmitter licensing demands and enforcement orders from a range of states, including Connecticut, Texas, New York, Florida, California, Illinois, and Washington.
Represented OceanPayment in relation to Australian financial services licensing and regulatory issues in connection with their launch in Australia of payments products and services. OceanPayment is focused on the travel and leisure industry and the fast-growing numbers of inbound tourists from China.
Advised an innovative Artificial Intelligence company for the launch of their AI-based product for the Inter-Broker Dealer industry, which includes advice concerning a token offering, seed funding, and additional commercial arrangements which involve tax and employment advice on a cross-border basis.
Advised major US cryptocurrency wallet and exchange on compliance with state licensing laws and federal anti-money laundering laws. Continue to provide updated advice as laws and regulations develop in this quickly changing area.
Advised international remittance company regarding acquisition and obtaining change-of-control approvals.
Major global B2B payments company retained us to complete a legal compliance survey of all of its products. Advised on compliance issues and remediation.
Contract drafting, negotiation and due diligence advice on Garmin acquisition of Fitpay. The acquisition provided a major enhancement to Garmin’s IoT payment offering. K&L Gates was lead counsel representing Garmin in the acquisition and in undertaking due diligence of the Fitpay application.
Advised major European payment platform regarding the launch of its payment product for online gaming in the US. A critical part of PaysafeCard’s expansion plans in the US, the successful launch involved advice in multiple regulatory areas. we served as chief US regulatory counsel for the program.
We provide advice related to product development and CFTC regulations for Coinbase, Inc.
Helped launch cryptocurrency exchanges in the EU and US; provided regulatory guidance in establishing P2P payments platform. Important to the client because this was a major critical step in the growth of its business plan. K&L Gates served as chief regulatory and contract counsel for the entire project.
Counseled cryptocurrency exchange on wide variety of issues as it launched in the United States and internationally, including corporate structuring, tax, regulatory compliance and licensing, and anti-money laundering.
Provided regulatory compliance and licensing advice to P2P mobile payments platform with integrated cryptocurrency capabilities. Collaborated with client on various product features to ensure proper regulatory treatment and licensing compliance. In addition, advised client on anti-money laundering obligations with respect to its payment services.
Advised U.S.-based company on the development of a mobile app to be used globally to serve the unbanked and underbanked by enabling the sending and receipt of funds. Provide strategic advice for the structuring of a mobile app payment solution under applicable law and regulatory guidance while meeting client’s design, functionality, and global objectives. Advise client regarding strategic alliances, processing agreements, service provider contracts, end-user license agreement, terms of service, and all aspects of compliance with consumer protection laws. Advise on privacy issues and cross-border implications with respect to the collection, transfer, and use of data.
Represented international provider of software solutions and money transmission services on expanding its international platform into the United States. Provide strategic advice on the regulatory considerations relevant to its proposed activities in the United States, including, notably, advice on white-labeled services and agency appointments under state money transmitter licensing laws and applicable regulatory guidance. Advise client regarding the preparation of U.S. transaction documents and terms applicable to the services.
Advised Asia client as to the structuring and execution of a global e-commerce and sales payment processing solution. Provide strategic advice for structuring of e-commerce payment solutions that comply with applicable law and card network rules. Advises on negotiation of core processing agreements, service agreements, and consumer-facing terms and conditions.
Assisted a superannuation fund in a successor fund transfer.
Advising a large technology company in relation to insurance products as financial products.
Assisted leading online gift card company in launching new mobile app products, including reviewing funds flow and product structure, providing a risk and legal assessment, preparing website documents and customer agreements, and providing guidance on consumer protection, privacy, abandoned property and AML compliance issues.