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Finance Posts
What About Gaming? The House Passes the SAFE Banking Act, Putting Cannabis Ahead of Regulated Gambling
Sep 26, 2019
What About Gaming? The House Passes the SAFE Banking Act, Putting Cannabis Ahead of Regulated Gambling
The inability to secure banking services has created enormous difficulties for state level, legal cannabis industries. Eleven states and the District of Columbia have legalized the recreational use of marijuana, and a majority of states also have legal medical marijuana programs. Nonetheless, “marihuana” remains a Schedule I controlled substance under the Controlled Substances Act and its…
A Bank is a Bank
Aug 15, 2016
A Bank is a Bank
Do you remember when I wrote about how a federal district court had ruled that an online poker account was akin to a bank account and should therefore be subject to FBAR reporting? It seemed nonsense to me at the time—and I also worried about whether the court’s expanded definition of a “financial institution” would…
Why Virtual Gold Can’t Buy Plaintiffs Happiness
Nov 10, 2015
Why Virtual Gold Can’t Buy Plaintiffs Happiness
A federal court has soundly rejected a plaintiff’s contention that she suffered any real-world harm based on in-game losses of virtual currency. In Mason v. Machine Zone, Inc., plaintiff Mia Mason alleged that she was a regular player of a free-to-play mobile game called Game of War (GoW): Fire Age. GoW is a multiplayer online…
