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
California Governor Gavin Newsom vetoed the Digital Financial Assets Law requiring companies offering services that involve investing, lending, or trading cryptocurrencies to register with the state’s Department of Financial...more
California is one step closer to joining New York in requiring cryptocurrency licenses.
Governor Gavin Newsom has until September 30 to sign or veto the Digital Financial Assets Law, which would go into effect in 2025. The...more