U.S. based financial institutions that conduct funds transfers with the designated Mexican institutions have until 21 July to implement compliance procedures. Transfers of funds involving these designated Mexican...more
The orders represent the first use of new authorities by FinCEN. U.S. based financial institutions that conduct funds transfers with the designated Mexican institutions will be subject to significant compliance obligations,...more
What is happening Many of the largest blockchain networks today are subject to a proof-of-stake (PoS) consensus mechanism, such as Ethereum, Solana, and Polygon, which are reliant on users participating in the activity of...more
The U.S. Department of Justice (DoJ) has announced that the co-founder of a cryptocurrency company who misled victims into investing $25 million in a fraudulent scheme has pled guilty for his role in the scheme and faces up...more
The U.S. Securities and Exchange Commission (SEC) has obtained an asset freeze and other emergency relief to stop an alleged securities fraud by former Washington state senator David Schmidt and two others, who dishonestly...more
The U.S. Commodity Futures Trading Commission (CFTC) has charged a man from Colorado with fraud and failing to register with it in respect of a scheme that involved Ponzi-type payments....more
2/21/2020
/ Bitcoin ,
Blockchain ,
Civil Monetary Penalty ,
Commodity Pool ,
Cryptocurrency ,
Digital Assets ,
Disgorgement ,
Enforcement Actions ,
Foreign Currency ,
Forex ,
Illegal Trading ,
Investment ,
Investment Fraud ,
Misappropriation ,
Permanent Injunctions ,
Ponzi Scheme ,
Restitution ,
Solicitation ,
White Collar Crimes
The SEC has settled its fraud action against Longfin CEO Venkata Meenavalli, who has agreed to pay $400,000 in disgorgement and penalties.
The SEC's complaint alleged that Longfin and Meenavalli obtained qualification for...more
1/21/2020
/ Blockchain ,
Civil Monetary Penalty ,
Commodities ,
Corruption ,
Criminal Investigations ,
Criminal Prosecution ,
Default Judgment ,
Disgorgement ,
Enforcement Actions ,
False Reporting ,
Filing Requirements ,
Fraud ,
Listing Rules ,
Misrepresentation ,
Nasdaq ,
Offering Fraud ,
Offerings ,
Penalties ,
Preferred Shares ,
Regulation A ,
Revenue ,
Securities and Exchange Commission (SEC) ,
Securities Transactions ,
Unregistered Securities ,
White Collar Crimes
The Internal Revenue Service (IRS) has signaled for years that it would eventually bring enforcement actions against individuals who failed to report cryptocurrency gains. It appears that “eventually” is over and that those...more
8/24/2019
/ Capital Markets ,
Criminal Prosecution ,
Cryptocurrency ,
Currency Exchange ,
Enforcement Actions ,
Enforcement Programs ,
Failure to Report ,
Income Taxes ,
IRS ,
Reporting Requirements ,
Tax Fraud ,
Trading Platforms
What has happened?
US President Donald Trump has signed an executive order, establishing a task force that will develop guidance for the investigation and prosecution of fraud, including "digital currency fraud"....more
7/30/2018
/ Bitcoin ,
Cryptocurrency ,
Digital Currency ,
Enforcement Actions ,
Federal Agency Taskforce ,
Financial Fraud ,
Government Investigations ,
Regulatory Agenda ,
Regulatory Oversight ,
Trump Administration ,
Virtual Currency
What has happened?
A US federal court has ordered Dillon Michael Dean and his UK-registered company, The Entrepreneurs Headquarters Ltd (TEH), to pay over $1.9 million in "civil monetary penalties and restitution"....more
7/30/2018
/ Bitcoin ,
CFTC ,
Civil Monetary Penalty ,
Cryptocurrency ,
Digital Currency ,
Enforcement Actions ,
Initial Coin Offering (ICOs) ,
Investment Fraud ,
Misappropriation ,
Token Sales ,
Trade Options ,
Virtual Currency
On Friday, September 29, the SEC filed an emergency action in Federal District Court in New York against Maksim Zaslavskiy and two of his companies, REcoin Group and Diamond Reserve Club.
...more
10/5/2017
/ Blockchain ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
Financial Markets ,
Initial Coin Offering (ICOs) ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Token Sales ,
Unregistered Securities ,
Virtual Currency