On December 3, 2024, the US District Court in the Eastern District of Texas (the Texas Federal Court) granted a nationwide preliminary injunction in favor of certain small businesses, ruling (1) the Corporate Transparency Act...more
12/17/2024
/ Beneficial Owner ,
Business Ownership ,
Corporate Transparency Act ,
Disclosure Requirements ,
FinCEN ,
Injunctions ,
Popular ,
Preliminary Injunctions ,
Reporting Requirements ,
Small Business ,
Suspended Judgment ,
Unconstitutional Condition
As of January 10, 2024, US securities exchanges may list Bitcoin ETFs for trading. Cryptocurrency enthusiasts hope this decision signals a broader adoption of cryptocurrency in the United States. Perhaps it does, but...more
The Financial Crimes Enforcement Network (FinCEN) has proposed extending the deadline for certain companies to comply with the Corporate Transparency Act (CTA) and report their beneficial ownership information (BOI) from 30...more
On July 21, 2022, the US Department of Justice (DOJ) unsealed an indictment charging Ishan Wahi (Wahi), a former product manager at a large cryptocurrency trading platform (the Platform) - along with his brother Nikhil Wahi...more
7/28/2022
/ Conspiracies ,
Criminal Conspiracy ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Assets ,
Digital Marketplace ,
Enforcement Actions ,
Howey ,
Indictments ,
Insider Trading ,
Popular ,
Rule 10b-5 ,
Securities and Exchange Commission (SEC) ,
Wire Fraud
On May 3, 2022, the US Securities and Exchange Commission (SEC) announced the expansion of its newly styled Crypto Assets and Cyber Unit (Unit) (formerly known as the Cyber Unit), housed within its Division of...more
5/10/2022
/ Bitcoin ,
Blockchain ,
Cryptoassets ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Enforcement Authority ,
Enforcement Priorities ,
Howey ,
Lenders ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Securities and Exchange Commission (SEC) ,
Working Groups
On April 13, 2022, the Texas State Securities Board and Alabama Securities Commission issued separate emergency cease and desist orders (C&Ds) against Sand Vegas Casino Club and its two co-founders (Respondents). The C&Ds...more
4/27/2022
/ Casinos ,
Cease and Desist Orders ,
Digital Assets ,
Fraud ,
Howey ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Regulation ,
State Securities Regulators
On February 4, 2022, the US Department of the Treasury (the Treasury) released the “Study of the Facilitation of Money Laundering and Terror Finance through the Trade in Works of Art” (the Report). The Report examines the...more
2/18/2022
/ Anti-Money Laundering ,
Art Dealers ,
Bank Secrecy Act ,
Blockchain ,
BSA/AML ,
Compliance ,
Financial Institutions ,
FinCEN ,
Fine Art ,
Non-Fungible Tokens (NFTs) ,
Popular ,
U.S. Treasury
On January 26, 2022, the US Securities and Exchange Commission (SEC) proposed a rule (Proposed Rule) amending - and significantly broadening - a rule that defines certain terms used in the statutory definition of “exchange.”...more
On October 8, 2020, the US Department of Justice (DOJ) Cyber-Digital Task Force issued an 83-page comprehensive “Cryptocurrency: An Enforcement Framework,” (Framework), signaling the DOJ’s increased focus on prosecuting...more