A federal district court in New York granted Coinbase's motion to compel arbitration by applying Second Circuit precedents from cases involving Amazon and Uber.

On January 2, 2019, the Texas Department of Banking issued revised guidance on the application of the Texas Money Services Act to virtual currency transactions.  Updating the Department’s 2014 guidance, the revised guidance offers new perspectives on the application of Texas law and regulations to certain stablecoins and Bitcoin ATMs. 

A federal court sitting in New York and applying that state’s long-arm statute lacked personal jurisdiction over a U.S. company not based in New York.  Accordingly, the court dismissed a breach of contract lawsuit brought against the company by an overseas consultant retained to assist with the company’s initial coin offering.  See ICO Servs., Ltd. v. Coinme, Inc., No. 18-cv-4276, 2018 WL 6605854 (S.D.N.Y. Dec. 17, 2018) (Schofield, J.).  The court held that the one-shot consulting agreement was not the type of on-going relationship courts consider in evaluating personal jurisdiction; and the alleged existence of New York-based customers, investors, and business activity had no alleged connection to the underlying dispute.  Coinme illustrates – in the context of an ICO – contract-related activity that will and will not support personal jurisdiction in federal court.