Bitcoin is a virtual currency – it has no physical form in paper or metal and is not connected with any central bank or governmental authority. It is freely tradable via the internet or other electronic means. Transactions in bitcoin can be largely anonymous – making them difficult to track and nearly impossible to tax – and bitcoin transactions also raise potential consumer protection issues. Bitcoin and other virtual currencies that have either an “equivalent value in real currency”...

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The European Union (“EU”) has announced that it will impose an additional 26% ad valorem import duty on certain products of U.S. origin, effective May 1, 2013, as part of its ongoing dispute with the United States over the Continued Dumping and Subsidy Offset Act (“CDSOA”, also commonly referred to as “the Byrd Amendment”). The scope of the goods covered by this announcement are defined in terms of EU tariff numbers: 0710 40 00 (Frozen Vegetables: Sweetcorn) 9003 19 30 (Frames and...

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In a very challenging global economic environment, France has confirmed in 2012 its strong appeal for foreign investors. France attracted 693 projects, just slightly less than in 2011 (698). While Europe remains the main regional destination in the world for job-creating foreign investment projects (29% share), France is the second most attractive European country after the U.K. With 22.5% of all foreign projects in France, the United States are again in 2012 the first country of origin for the French...

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The Consumer Product Safety Commission (“CPSC”) has issued a request for information on whether there are materials used in children’s products which do not contain certain prohibited elements (e.g., lead) or chemicals (phthalates), and whether there are any materials that do not contain such elements or chemicals above the applicable maximum limit. Based on the information collected, the CPSC may consider exempting certain materials from the third party testing requirements. Comments must be submitted by June 17, 2013. The request for...

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Traditionally, the Office of the Comptroller of the Currency (OCC) did not require a national bank seeking to engage in non-depository, trust-only activities (a "trust-only bank") to obtain Federal Deposit Insurance Corporation (FDIC) insurance as a prerequisite to granting it a charter. Recently, however, the OCC changed its position; today, a trust-only bank must obtain FDIC insurance in order to be granted a charter. This change in policy, which is designed to ensure that the OCC is not forced...

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