News & Analysis as of

Cryptocurrency Non-Fungible Tokens (NFTs) Anti-Money Laundering

Carey Olsen

Introducing CARF - the OECD's Crypto-Asset Reporting Framework

Carey Olsen on

The recent proliferation of crypto-assets and its uses have transformed the international financial landscape, offering innovative opportunities for payments, investment and Decentralised Finance (DeFi). At the heart of it,...more

Carey Olsen

Blockchain 2024 - Bermuda (Legal 500)

Carey Olsen on

Carey Olsen has contributed to The Legal 500 Country Comparative Guide 2024 for Blockchain. The aim of this guide is to provide its readers with a pragmatic overview of the law and practice of blockchain law across a variety...more

Cadwalader, Wickersham & Taft LLP

Crypto Red Flags for Financial Institutions

On May 23, 2024, the Joint Chiefs of Global Tax Enforcement (the “J5”) published an advisory note for financial institutions, identifying red flags associated with crypto-related illicit activities.  The J5 is a collaborative...more

Ankura

Crypto Asset Investigations: Key Considerations and Pitfalls

Ankura on

Crypto assets are some of the most rapidly evolving and increasingly adopted assets in the world. Decentralized Finance (DeFi) is emerging as a blockchain-based alternative to traditional banking and financial services and...more

Seward & Kissel LLP

(Un?)Educated Guesses

Seward & Kissel LLP on

The New Year is upon us, which means plenty of news stories looking back at blockchain events in 2023, such as this one (From NFTs to XRP: the biggest crypto stories of 2023 (Axios)), this one (The Year that Cryptocurrency...more

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - August 2023 Updates

CryptoLink is a compilation of news stories published by outside organizations. Akin aggregates these stories, but the information contained in them does not necessarily represent the beliefs or opinions of the firm. Akin's...more

Proskauer - Blockchain and the Law

U.S. Senate and House of Representatives Introduce Competing Crypto Regulation Bills

On July 12, 2023,  U.S. Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-N.Y.) proposed a revised version of their previously introduced crypto regulation bill to create better safeguards for the crypto industry...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - July 2023 #3

Troutman Pepper Locke on

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more

Wilson Sonsini Goodrich & Rosati

Treasury Risk Assessment Emphasizes That Decentralized Crypto Companies Have AML and Sanctions Compliance Obligations

Earlier this month, the U.S. Department of the Treasury (Treasury) released its Illicit Finance Risk Assessment of Decentralized Finance (Assessment). This Assessment, part of a broad regulatory scrutiny of entities that...more

Society of Corporate Compliance and Ethics...

CEP Magazine - March 2023. Compliance in decentralized finance

There has been a lot of discussion recently—across the globe—about how (or if) to regulate the decentralized finance (DeFi) industry. The term DeFi encompasses a broad range of activities and services, including, but not...more

Proskauer - Blockchain and the Law

In Response to the White House’s Executive Order, FSOC Releases Digital Asset Stability Report with Legislative Recommendations

On October 3, 2022, the Financial Stability Oversight Council (“FSOC”) – a collaborative body formed under the Dodd-Frank Act composed of state and federal regulators and tasked with identifying risks and responding to...more

Braumiller Law Group, PLLC

Hot Topics in International Trade - October 2022 - Can, and Should, the U.S. Government Develop a CBDC System?

In response to the Executive Order on Ensuring Responsible Development of Digital Assets issued on March 9, 2022, both the White House Office of Science and Technology Policy (OSTP) and the Treasury Department (Treasury) have...more

Hogan Lovells

Digital Assets and Blockchain: 2022-23 Key Trends

Hogan Lovells on

2022 promises to be a defining year for digital assets and blockchain, as governments move from a watch and wait position to delivering regulatory frameworks and taking strides to harness the potential of the technology....more

Ankura

Responding to the Increased Global Risk of Financial Crimes

Ankura on

Ankura's Nova O sits down with Mark McGrath, Ayana Murphy, and Elif Cinar to discuss the current anti-money laundering (AML) landscape in the latest Q&A with our Ankura experts. Learn more about responding to the increased...more

Mintz

Senate Bill Defines Bitcoin, Ether as Digital Commodities to be Regulated By CFTC

Mintz on

Following the announcement DOJ/SEC enforcement actions alleged insider trading against a former Coinbase employee, many cried foul at the perceived "regulation by enforcement." The SEC Complaint, alleged – for the first time...more

BakerHostetler

Applying the Bank Secrecy Act, FinCEN Regulations, and Sanctions to the Nascent NFT Market

BakerHostetler on

Non-fungible tokens (NFTs) often involve two areas with known money laundering and terrorist financing risks: cryptocurrencies and high-value assets, like art. As detailed below, the U.S. Treasury Department’s Financial...more

Wilson Sonsini Goodrich & Rosati

Headed to the Metaverse? Be "The One" to Minimize Money Laundering Risk

Wilson Sonsini provides extensive and cutting-edge legal services for innovators, technology pioneers, and disruptors. As part of our focus on emerging technologies, our attorneys are publishing a series on applying and...more

Wilson Sonsini Goodrich & Rosati

No Foolish Transactions: A Few Guidelines for NFT Marketplace Participants to Mitigate Anti-Money Laundering Risks

The global NFT (non-fungible token) market now is worth dozens of billions of dollars annually. Innovators and early adopters, marketplaces, and sellers, are all eager to join this market but may have questions about how to...more

Oberheiden P.C.

NFT Lawyer – 5 Things You Must Consider Before Hiring

Oberheiden P.C. on

NFTs, or non-fungible tokens, are digital assets that are sharply rising in popularity. Every day, individuals are launching new NFT projects with similar or new features compared to prior NFT projects. NFTs are attractive to...more

BakerHostetler

Crypto and NFT Pilots Launch Across Industries; Paper Analyzes Bitcoin Use in El Salvador; Crypto Enforcement Continues in US; New...

BakerHostetler on

A major U.S. fintech firm recently announced the launch of a “crypto payouts” pilot that will allow a select group of creators to receive cryptocurrency payments through a major social media platform. According to a press...more

Pillsbury Winthrop Shaw Pittman LLP

A Long-Awaited Effort to Clarify Regulation of Digital Assets and Cryptocurrency—Unpacking the Biden Administration’s New...

The Biden Administration has launched a comprehensive effort to develop a cohesive policy approach for digital assets. Key agencies are instructed to report on digital asset issues and legal framework in relation to...more

Proskauer - The Capital Commitment

Regulatory Shake-Out on Digital Assets: An Industry Waits for Additional Guidance

A threshold question in many cryptocurrency inquiries is whether the digital assets qualify as securities under the federal securities laws. If so, then they are subject to a full suite of federal securities regulations....more

Sheppard Mullin Richter & Hampton LLP

Treasury’s Study Discusses Financial Crimes and NFTs

On February 4, the Department of the Treasury published a study on the facilitation of money laundering and terrorist financing through the art trade. Among other considerations, the report discussed the risks of financial...more

Nelson Mullins Riley & Scarborough LLP

Crypto Love is a Battlefield

The battle over blockchain technology and digital assets bears a striking resemblance to the debate over the potential of the internet in the mid-1990s. Where critics see a passing fad with little actual utility or a lawless...more

BakerHostetler

CBDC Research Published, Crypto Products Launch, Report Addresses NFT Money Laundering Risks, UK Addresses DeFi Tax, DOJ Brings...

BakerHostetler on

CBDC Research Published, Fintech Firms and Banks Launch Crypto Initiatives - The Boston branch of a major U.S. banking agency and the Massachusetts Institute of Technology recently released “the findings of their initial...more

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