News & Analysis as of

Digital Assets Anti-Money Laundering Department of Justice (DOJ)

Alston & Bird

DOJ Refines Illicit Finance Enforcement Approach for DeFi

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Our White Collar, Government & Internal Investigations Group reviews several Department of Justice statements that together signal how it will enforce illicit finance risks in decentralized finance (DeFi), focusing on...more

Venable LLP

Cryptocurrency Victory Amid a Shifting Political Environment: Lesser Charge Still Brings Important Ramifications for Decentralized...

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On Wednesday, August 6, a Southern District of New York jury found Roman Storm, the founder of Tornado Cash, guilty of conspiracy to operate an unlicensed money-transmitting business in violation of Section 371 of Title 18 of...more

BakerHostetler

Weekly Blockchain Blog - August 2025 #3

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US Stablecoin Issuers Announce Bank Charter Application, New L1 Network - Paxos, a blockchain infrastructure and tokenization platform and issuer of the USDP stablecoin, recently announced that it “has filed an application...more

BakerHostetler

Weekly Blockchain Blog - March 2025 #3

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US Digital Asset Companies Achieve Licenses, Launch Products - According to a recent press release, Ripple, a U.S. digital asset infrastructure provider, announced that it has “received approval from the Dubai Financial...more

A&O Shearman

Cryptocurrency Exchange Pleads Guilty To Violating Anti-Money Laundering Laws, Agrees To Pay More Than $500 Million In Penalties...

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On Monday, February 24, 2025, the U.S. Attorney’s Office for the Southern District of New York (the “SDNY”), in conjunction with the FBI, announced that a Seychelles-based cryptocurrency exchange (“the Exchange”) pled guilty...more

Akin Gump Strauss Hauer & Feld LLP

Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile

The Secretary of the Treasury shall establish an office to administer and maintain control of custodial accounts collectively known as the “United States Digital Asset Stockpile,” capitalized with all digital assets owned by...more

BakerHostetler

Weekly Blockchain Blog - March 2025

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Digital Asset Companies Continue New Product Launches - Decentralized finance (DeFi) startup Figure Markets recently announced that it has launched “the first interest-bearing transferable stablecoin native to a public...more

Orrick, Herrington & Sutcliffe LLP

Cryptoasset exchange pleads guilty for unlicensed money transmitting

On January 27, DOJ announced a cryptocurrency exchange platform (the platform) pled guilty to operating as an unlicensed money transmitting business and failing to implement adequate AML and know-your-customer (KYC) programs....more

A&O Shearman

Major Crypto Exchange Pleads Guilty, Agrees To $297 Million Penalty; Founders Secure DPAs

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On January 27, 2025, one of the largest global cryptocurrency exchange platforms (the “Exchange”) pled guilty to one count of operating an unlicensed money transmitting business and agreed to pay $297 million in connection...more

BakerHostetler

Weekly Blockchain Blog - February 2025

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US Crypto Companies Expand Via New Licenses, Products, Integrations - A major U.S. cryptocurrency exchange recently announced that it has “secured a Virtual Asset Service Provider (VASP) registration from Argentina’s...more

Ropes & Gray LLP

Crypto Quarterly Digital Assets, Blockchain and Related Technologies Update

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The landscape of government enforcement, private litigation and federal and state regulation of digital assets, blockchain and related technologies is constantly evolving. Each quarter, Ropes & Gray attorneys analyze...more

Lowenstein Sandler LLP

Crypto Brief - Newsletter - January 24, 2025

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Lowenstein Crypto advises leading digital asset and cryptocurrency projects, exchanges, and trading firms. Our practice covers regulatory advice, transactions and structuring advice, investigations, and adversarial matters...more

BakerHostetler

Weekly Blockchain Blog - January 2025 #2

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U.S. Web3 Companies Launch Products and Tech Integrations - A major U.S. cryptocurrency exchange recently launched a “Bitcoin-based loans” product that allows customers to post BTC as collateral for USDC loans. ...more

Davis Wright Tremaine LLP

CFTC Releases Its Enforcement Results for FY 2024 Showing an All-Time High for Monetary Relief

On December 4, 2024, the CFTC's Division of Enforcement ("Division") released its enforcement results for Fiscal Year 2024. The results reflected an all-time high for monetary relief, mainly from its resolution of off-channel...more

BakerHostetler

Weekly Blockchain Blog - August 2024

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New Crypto Products Announced, Stablecoin and BTC Data Published - According to a recent press release, OpenEden, a tokenization platform, announced that it is bringing tokenized U.S. Treasury bills to the XRP ledger....more

Guidepost Solutions LLC

Crypto Crackdown: 8 Key BSA/AML Fundamentals for FinTechs

In June 2024, multiple state regulators took joint action against Plutus Financial, Inc (Abra) ordering Abra to cease and desist certain operations in the U.S. and reimburse customers of virtual assets valued at $81.1 million...more

Ballard Spahr LLP

Fighting Crypto Crime:  A Guest Blog.

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Today we are very pleased to welcome guest blogger Lili Infante, who is the CEO of CAT Labs – a tech company building digital asset recovery and quantum-resistant cryptography tools to fight crypto crime. Lili previously...more

Guidepost Solutions LLC

Emerging Expectations from the Latest Enforcement Actions Over Off-Channel Communications

Since December 2021, the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have levied almost $3.0 billion in penalties for longstanding failures by 39 broker-dealers, swap dealers,...more

Ballard Spahr LLP

Binance Settles Criminal and Civil AML and Sanctions Enforcement Actions for Multiple Billions – While its Founder, Owner and...

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As the world now knows, Binance Holdings Limited, doing business as Binance.com (“Binance” or the “Company”), has entered into a plea agreement with the U.S. Department of Justice (“DOJ”)....more

King & Spalding

Cryptocurrency: Legal Developments and Outlook

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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

Skadden, Arps, Slate, Meagher & Flom LLP

DOJ Relies on Traditional Statutes To Charge Defendants in Cryptoasset Fraud Cases

Two recent indictments highlight the Department of Justice’s (DOJ’s) continuing use of the traditional wire fraud, money laundering and identity theft statutes to pursue fraud involving digital assets, indicating that law...more

Orrick, Herrington & Sutcliffe LLP

U.S., German law enforcement disable darknet crypto mixer

On March 15, U.S. law enforcement, along with German criminal authorities, disabled a darknet cryptocurrency “mixing” service used to allegedly launder more than $3 billion in cryptocurrency underlying ransomware, darknet...more

Orrick, Herrington & Sutcliffe LLP

FinCEN prohibits engagement with virtual currency exchange connected to Russian finance

On January 18, the Financial Crimes Enforcement Network (FinCEN) issued its first order pursuant to section 9714(a) of the Combating Russian Money Laundering Act to identify a Hong Kong-registered global virtual currency...more

Ballard Spahr LLP

DOJ Report Calls For International Cooperation to Fight Digital Asset Crime

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On June 6, Attorney General Merrick Garland (“AG”) issued a report titled “How to Strengthen International Law Enforcement Cooperation For Detecting, Investigating And Prosecuting Criminal Activity Related To Digital Assets”...more

Lowenstein Sandler LLP

SDNY U.S. Attorney's Office Charges First-Ever Digital Asset Insider Trading Scheme

Reaffirming DOJ’s focus on digital assets, the U.S. Attorney’s Office for the Southern District of New York today charged a defendant, for the first time ever, with insider trading in non-fungible tokens (NFTs). ...more

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