U.S. Fintech Firm Launches Stablecoin; Circle Launches ‘Programmable Wallets’ -
A major U.S. fintech and payments firm recently announced the launch of a U.S. dollar-denominated stablecoin, PYUSD. According to a press...more
8/14/2023
/ Bitcoin ,
Blockchain ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
Financial Services Industry ,
FinTech ,
Initial Coin Offering (ICOs) ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
Token Sales
Federal District Court Enters Default Judgment Based on NFT Service of Process -
A federal district court judge in Florida entered a $2.2 million default judgment against a defendant on whom the judge previously authorized...more
8/10/2023
/ Blockchain ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Enforcement Actions ,
Ethereum ,
Fraud ,
IRS ,
Non-Fungible Tokens (NFTs) ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Revenue Procedures ,
SDN List ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Unregistered Securities
U.S. Central Bank Launches Instant Payment Service -
A recent press release by the U.S. central bank announced that “its new system for instant payments, the FedNow® Service, is now live.” According to the press release,...more
8/3/2023
/ Blockchain ,
Central Bank Digital Currency (CBDCs) ,
CFTC ,
Cryptoassets ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Platforms ,
Enforcement Actions ,
Federal Reserve ,
GAO ,
Hackers ,
Payment Systems ,
Securities and Exchange Commission (SEC) ,
U.S. Treasury
French Bank Licensed to Offer Crypto Services, New Crypto Products Launch -
According to recent reports, one of the largest banks in France recently received the first license for crypto services issued by the French...more
On July 13, 2023, the U.S. District Court for the Southern District of New York issued its highly anticipated summary judgment decision in the U.S. Securities and Exchange Commission’s (SEC) action against Ripple Labs, Inc....more
New Crypto Products Launch in Exchanges, Wallets, and Custody -
A recent press release announced the launch of EDX Markets, a “first-of-its-kind digital asset marketplace designed to enable safe and compliant trading of...more
6/26/2023
/ Bitcoin ,
Blockchain ,
Cease and Desist Orders ,
Central Bank Digital Currency (CBDCs) ,
Corporate Governance ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Digital Platforms ,
Enforcement ,
Enforcement Actions ,
Financial Services Industry ,
FinTech ,
Non-Fungible Tokens (NFTs) ,
Popular
CBDC Initiatives Advance in Colombia and Hong Kong -
According to a recent press release, a major U.S. fintech company and “leader in enterprise blockchain and crypto solutions” has announced a collaboration with Colombia’s...more
6/20/2023
/ Bitcoin ,
Blockchain ,
Central Bank Digital Currency (CBDCs) ,
CFTC ,
Colombia ,
Criminal Prosecution ,
Crypto Exchanges ,
Cryptocurrency ,
Decentralized Autonomous Organization (DAO) ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Currency ,
Digital Wallets ,
Hackers ,
Hong Kong ,
Popular
Product Integrations and Data Indicate Increased Interest in DeFi -
MetaMask, a web3 Ethereum Network cryptocurrency wallet, recently announced a new integration with a major U.S. payments and fintech firm....more
5/22/2023
/ Blockchain ,
Bureau of Industry and Security (BIS) ,
Central Bank Digital Currency (CBDCs) ,
Crypto Exchanges ,
Cryptocurrency ,
Decentralized Autonomous Organization (DAO) ,
Decentralized Finance (DeFi) ,
Ethereum ,
FATF ,
FinTech ,
Fraud ,
IRS ,
Popular ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Ukraine
Multiple Financial Services Firms Announce New Crypto Products -
A major U.S. financial services firm recently launched its Crypto Credential product, “a set of common standards and infrastructure that will help verify...more
5/8/2023
/ Blockchain ,
CFTC ,
Criminal Prosecution ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement ,
Enforcement Actions ,
Enforcement Priorities ,
Financial Services Industry ,
Fraud ,
Income Taxes ,
Office of Foreign Assets Control (OFAC) ,
Payment Methods ,
Popular ,
Securities and Exchange Commission (SEC) ,
UK
ETH Staking Data Published, USDC Cross-Chain Transfer Protocol Launches -
New data reflects that the recent amount of staking withdrawals on Ethereum has been balanced by a roughly equal amount of deposits. According to...more
5/1/2023
/ Blockchain ,
Crypto Exchanges ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Ethereum ,
IRS ,
Market Manipulation ,
Money Laundering ,
New Guidance ,
Office of Foreign Assets Control (OFAC) ,
SDN List
European Bank Launches Stablecoin; Financial Firms Expand Crypto Products -
A subsidiary of a major European financial services firm recently launched EUR CoinVertible (EURCV), an Ethereum ERC20 stablecoin backed 1:1 by...more
4/24/2023
/ Bitcoin ,
Blockchain ,
Crypto Exchanges ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Digital Wallets ,
Enforcement Actions ,
Ethereum ,
Hackers ,
Popular ,
SDN List ,
Stablecoins
Background and Scope -
The Assessment was drafted by Treasury’s Office of Terrorist Financing and Financial Crimes (“TFFC”), in consultation with multiple U.S. agencies, including the Departments of Homeland Security,...more
Staking Market Launches, ‘Defi Cover’ Data Published, DAO Buys Golf Course
According to a recent press release, MetaMask Institutional, “the web3 wallet for organizations,” has launched its “institutional staking...more
3/27/2023
/ Biden Administration ,
Blockchain ,
Celebrities ,
Central Bank Digital Currency (CBDCs) ,
Decentralized Autonomous Organization (DAO) ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Assets ,
Fraud ,
Hackers ,
IRS ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Russia ,
Securities and Exchange Commission (SEC) ,
Wells Notice
Dapper Labs was founded in 2018 shortly after the debut of its first NFT collection, “CryptoKitties,” which was so successful it created a bottleneck of transactions on the decentralized Ethereum Network. Seeking faster...more
3/7/2023
/ Blockchain ,
Corporate Counsel ,
Cryptoassets ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Ethereum ,
Howey ,
Investment Contract ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Securities ,
Securities Act of 1933
DeFi, Stablecoin Products Launch; Bitcoin Network Spikes Due to NFTs -
According to reports, a new decentralized finance (DeFi) protocol recently launched that allows users to deposit the stablecoins USDC or DAI in a...more
2/13/2023
/ Bitcoin ,
Blockchain ,
Criminal Prosecution ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Assets ,
FASB ,
Individual Retirement Account (IRA) ,
Money Laundering ,
Non-Fungible Tokens (NFTs) ,
North Korea ,
Ransomware ,
Securities and Exchange Commission (SEC) ,
Securities Tokens ,
Stablecoins
White House Addresses Crypto Risks; Blockchain Firm Wins Air Force Contract -
The White House issued a statement last week briefly outlining the Biden administration’s road map to mitigate the risks of cryptocurrencies,...more
2/6/2023
/ Biden Administration ,
Bitcoin ,
Blockchain ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Ethereum ,
Executive Orders ,
Fraud ,
Hong Kong ,
Office of Foreign Assets Control (OFAC) ,
SDN List ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
UK
Reports Address Crypto Ownership, Stablecoins and Dapp Adoption -
Recent reports provide new data on various areas of the digital asset market. In one report, a survey published by a cryptocurrency trading platform found...more
1/30/2023
/ Blockchain ,
CFTC ,
Cryptoassets ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
FBI ,
Hackers ,
New Guidance ,
Non-Fungible Tokens (NFTs) ,
NYDFS ,
Request For Information ,
Securities and Exchange Commission (SEC) ,
Stablecoins
Paper Explores Benefits of DeFi for FX; Australian Bank Launches Stablecoin -
A recent industry paper found that DeFi can reduce costs and enhance transparency in foreign exchange (FX) markets. The paper concludes that...more
1/23/2023
/ Blockchain ,
Bureau of Industry and Security (BIS) ,
Cryptocurrency ,
Decentralized Autonomous Organization (DAO) ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement Actions ,
FinCEN ,
Online Platforms ,
Securities and Exchange Commission (SEC) ,
Stablecoins
New Crypto Market Data Published, Blockchain Settlement Pilot Announced -
The Bank for International Settlements (BIS) recently published the results of a study “to investigate the drivers of crypto adoption” by assembling a...more
New Crypto Products Launch; Singapore Completes DeFi Pilot with Major Banks -
In a press release published this week, a major U.S. cross-border payments and money transfer company announced a new service in its existing...more
11/7/2022
/ Blockchain ,
CFTC ,
Crypto Exchanges ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Ethereum ,
Hackers ,
IRS ,
New Guidance ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Risk Management ,
Royalties
Crypto Products Launch in Debit Cards, Payment Gateways, Trading Platforms -
This week, two cryptocurrency financial services and trading platforms announced partnerships with traditional financial services companies to...more
10/31/2022
/ Bitcoin ,
Blockchain ,
Central Bank Digital Currency (CBDCs) ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Enforcement Actions ,
EU ,
FinTech ,
Malware ,
Metaverse ,
Non-Fungible Tokens (NFTs) ,
Payment Systems ,
Regulatory Authority ,
State Securities Regulators ,
Supply Chain
The continued growth of the market for nonfungible tokens (NFTs) in 2022 has helped shape the zeitgeist of what has been referenced colloquially by some as the “fourth industrial revolution,” defined largely by network effect...more
10/27/2022
/ Blockchain ,
Cryptocurrency ,
Cyber Threats ,
Digital Assets ,
Financial Crimes ,
FinTech ,
Hackers ,
Insider Trading ,
Market Manipulation ,
Money Laundering ,
Non-Fungible Tokens (NFTs) ,
Phishing Scams ,
Popular ,
Risk Management ,
Scams ,
Terrorism Funding
New Crypto Products Launch in Custody, Cloud Collaborations and Stablecoins -
This week, a major U.S. financial institution announced that its Digital Asset Custody platform is now live in the United States. According to...more
10/17/2022
/ Bitcoin ,
Blockchain ,
Crypto Exchanges ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
Financial Stability Board ,
FinCEN ,
Fines ,
Government Investigations ,
Hackers ,
Non-Fungible Tokens (NFTs) ,
OECD ,
Office of Foreign Assets Control (OFAC) ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
Statutory Violations
Crypto Products Launch, Reports Detail CBDC Pilots and Bank Crypto Exposure -
Last week, Circle Internet Financial, the issuer of USD Coin (USDC), announced plans “to make USDC available on five additional blockchain...more
10/10/2022
/ Blockchain ,
Central Bank Digital Currency (CBDCs) ,
Corporate Bonds ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
FinTech ,
Fraud ,
FSOC ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
U.S. Treasury
Exchange Reaches Agreement to Sell Assets; New Crypto Products Launch -
In a press release this week, Voyager Digital, a cryptocurrency exchange that recently filed for Chapter 11 bankruptcy, announced that it selected the...more
10/3/2022
/ Bitcoin ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Digital Currency ,
Financial Conduct Authority (FCA) ,
FinTech ,
Fraud ,
IRS ,
John Doe Investigation ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Scams ,
Securities and Exchange Commission (SEC) ,
U.S. Treasury ,
UK