On, May 22, 2024, the U.S. House of Representatives passed H.R. 4763, Financial Innovation for Technology for the 21st Century Act (“FIT21”). The legislation was touted by the House Financial Services Committee’s Chairman,...more
6/12/2024
/ Blockchain ,
CFTC ,
Digital Assets ,
Disclosure Requirements ,
Enforcement ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Jurisdiction ,
Registration Requirement ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
SIPA ,
Stablecoins
Federal and state regulators have taken an increased interest in regulating cryptocurrencies, digital assets, and the larger blockchain ecosystem. This landscape is opaque and rapidly evolving, and many industry participants...more
9/25/2023
/ Anti-Money Laundering ,
Bitcoin ,
Bitcoin Mining ,
Blockchain ,
CFIUS ,
CFTC ,
Coinbase ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement Actions ,
Ethereum ,
FinCEN ,
Fraud ,
Insider Trading ,
Ponzi Scheme ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
Unregistered Securities
The Attorney General Alliance (“AGA”) recently issued a collaborative White Paper that signals heightened scrutiny of digital asset businesses by state Attorneys General in coming years. Recognizing that it is “no longer...more
7/13/2022
/ Blockchain ,
Civil Monetary Penalty ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Cyber Crimes ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement Actions ,
Executive Orders ,
FinCEN ,
Fraud ,
Injunctions ,
Money Laundering ,
Non-Fungible Tokens (NFTs) ,
OCC ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Restitution ,
Securities and Exchange Commission (SEC) ,
State Attorneys General ,
Uniform Commercial Code (UCC)
With Increased Congressional Scrutiny, Continued Interest From Committees in Both the House and Senate, and a Turf War Between Congress and Key Regulatory Agencies, Digital Assets Continue to Be Under the Regulatory...more
In the ancient parable of the Blind Men and the Elephant, a group of blind men who had never come across an elephant before were asked to describe it. Each blind man felt a different part of the elephant’s body, but only one...more
New York Attorney General’s Office publishes a detailed report on policies and practices at virtual asset trading platforms, citing multiple common deficiencies -
The New York Attorney General’s Office (“NYAG”) issued a...more
SEC Chairman Jay Clayton has issued a broad warning to companies and individuals trying to “cash in” on the market frenzy surrounding Bitcoin and other cryptocurrencies. His prepared remarks at the Securities Regulation...more