The past week delivered three major shocks to the financial and tech worlds: first, the March 8 failure of Silvergate Bank; second, the sudden, March 10 failure of Silicon Valley Bank (“SVB”); and third, the weekend collapse...more
Prosecution of executives for insider trading is not necessarily headline news – except when the prosecution involves the SEC wading deep into the waters of defining crypto as a security enroute to securing two guilty pleas. ...more
With 2022 now fading into the background and 2023 underway, a review of some of the 2022 highlights in cryptocurrency provides an opportunity to look at the developments of the past year with a fresh perspective – and to...more
2/7/2023
/ Biden Administration ,
Blockchain ,
Coinbase ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement ,
Executive Orders ,
FinCEN ,
New Regulations ,
NYDFS ,
Office of Foreign Assets Control (OFAC) ,
Securities and Exchange Commission (SEC)
New York’s Department of Financial Services (“DFS”) recently announced a $100 million settlement with Coinbase, Inc., one of the world’s largest cryptocurrency exchanges, for Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”)...more
1/10/2023
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Coinbase ,
Compliance ,
Crypto Exchanges ,
Cryptocurrency ,
Cybersecurity ,
Data Breach ,
Digital Assets ,
Due Diligence ,
Financial Institutions ,
New York ,
NYDFS ,
Reporting Requirements ,
Settlement ,
Suspicious Activity Reports (SARs) ,
Transaction Monitoring
This summer was a busy one for cryptocurrency regulators, with aggressive actions potentially signaling an increase in consumer protection compliance activity.
In August alone, the New York Department of Financial Services...more
10/4/2022
/ Coinbase ,
Compliance ,
Criminal Prosecution ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Financial Institutions ,
Fines ,
Fraud ,
Howey ,
Money Laundering ,
Non-Fungible Tokens (NFTs) ,
NYDFS ,
Office of Foreign Assets Control (OFAC) ,
Penalties ,
Ponzi Scheme ,
Popular ,
Pyramid Schemes ,
Securities and Exchange Commission (SEC) ,
Settlement