News & Analysis as of

Digital Assets Securities and Exchange Commission (SEC) Money Laundering

Carlton Fields

Crypto Business Compliance: U.S. Licensing and Regulations

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The crypto industry is evolving rapidly, and regulatory enforcement is keeping pace. Businesses engaged in crypto transactions, custody, lending, trading, or payments must navigate know your customer (KYC) and anti-money...more

BakerHostetler

Weekly Blockchain Blog - November 2024 #3

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Crypto Exchanges and Stablecoin Issuers Announce Multiple New Products - Multiple crypto sector companies have recently announced new products. In a press release, LayerZero, “an omnichain interoperability protocol that...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - August 2024 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - May 2024 Updates

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

BakerHostetler

Weekly Blockchain Blog - June 2024

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In a recent press release, Grayscale Investments announced “the creation and public launch of two new crypto investment trusts: Grayscale Near Trust and Grayscale Stacks Trust.” According to the press release, “The trusts...more

Polsinelli

Blockchain+ Bi-Weekly - February 2024 #2

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The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...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

Troutman Pepper Locke

Well, California Has Decided to Regulate Crypto

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On October 13, California Governor Gavin Newsom (D) signed Assembly Bill 39 (Digital Financial Assets Law). This new law broadly empowers the California Department of Financial Protection and Innovation (DFPI) to govern...more

Ballard Spahr LLP

Bipartisan group of Senators re-introduce Digital Asset Money Laundering Act

Ballard Spahr LLP on

On July 28th, Senators Elizabeth Warren (D-Mass), Roger Marshall (R-Kan.), Joe Manchin (D-W.Va.) and Lindsey Graham (R-S.C.), reintroduced the Digital Asset Anti-Money Laundering Act (the “Act”), legislation aimed at closing...more

Ballard Spahr LLP

Bipartisan Group of Senators Re-Introduce the Digital Asset Money Laundering Act

Ballard Spahr LLP on

Legislation Targets Unhosted Wallets, Validators and Digital Asset ATMs - On July 28th, Senators Elizabeth Warren (D-Mass), Roger Marshall (R-Kan.), Joe Manchin (D-W.Va.) and Lindsey Graham (R-S.C.), reintroduced the...more

BakerHostetler

NFTs Used to Serve Complaint; Treasury Official, SEC Chairman Address Crypto Compliance; NYAG Sues Crypto Exchange; DOJ Takes Down...

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NFT Integration Software Released; NFTs Used to Serve Complaint in Civil Action - According to a recent press release, a major U.S. software company has launched a suite of tools that will allow users to “enter the Web3 and...more

BakerHostetler

DeFi, Stablecoin Products Launch; FASB to Allow Fair Value for Crypto Accounting; SEC Addresses Crypto IRAs; DOJ Enforcement...

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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

Cadwalader, Wickersham & Taft LLP

New Bipartisan Bill Takes Aim at Digital Asset Money Laundering and Terrorism Finance

On December 14, Senators Elizabeth Warren (D-Mass.) and Roger Marshall (R-Kan.) introduced in the U.S. Senate a new bipartisan bill, titled "Digital Asset Anti-Money Laundering Act of 2022" (the “Bill”), intended to curb the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden’s 2023 Insights – Five Critical Areas for the Year Ahead

The pandemic’s impact may be subsiding, but businesses are encountering new challenges across the globe, including the potential for an economic retrenchment, rising interest rates, shifting regulatory and litigation...more

BakerHostetler

Crypto Research Published; USPTO Seeks NFT Input; SEC and FINRA Address Digital Assets; OFAC Settles with Exchange; DOJ...

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New Research and Surveys Address CBDCs, Institutional Crypto Investment - Staff from the board of governors of the U.S. central bank recently published a research paper addressing central bank digital currencies (CBDCs)....more

Foley Hoag LLP - White Collar Law &...

DOJ Announces Increased Focus on Digital Asset Crime with Newly Formed Digital Asset Coordinator Network

On Friday, September 16, 2022, the Department of Justice (“DOJ”) announced a formalized focus on digital asset abuse by publically releasing a 46 page report on the Role of Law Enforcement in Detecting, Investigating, and...more

BakerHostetler

NFT Endorsements Scrutinized; Bank Crypto Guidance Issued; DOJ, CFTC and SEC Bring Crypto Enforcement Actions; Research Finds...

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NFTs Expand on Social Media, Celebrity NFT Endorsements Scrutinized - According to reports, one of the world’s largest social media platforms recently expanded its NFT (non-fungible token) initiative, allowing users in...more

BakerHostetler

Crypto Products Launch, Gain Approvals; OFAC Sanctions Crypto Mixer; SEC Publishes ICO Consent Order; Report Cites Criminal Use of...

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NY DFS Approves Crypto Platform, Prepaid Crypto Card to Launch in Argentina - According to a press release this week, the New York State Department of Financial Services (NY DFS) has authorized two subsidiaries of Zero...more

Cadwalader, Wickersham & Taft LLP

SEC and Department of Justice Announce Parallel Crypto 'Insider Trading' Charges as Regulators and Congress Wrangle over...

On July 21, the U.S. Securities and Exchange Commission (“SEC”) and the U.S. Attorney’s Office for the Southern District of New York announced parallel civil and criminal actions against a former product manager at Coinbase...more

King & Spalding

State Attorneys General Poised to Elevate Regulatory Scrutiny of Digital Asset Businesses

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The Attorney General Alliance (“AGA”) recently issued a collaborative White Paper that signals heightened scrutiny of digital asset businesses by state Attorneys General in coming years. Recognizing that it is “no longer...more

Foley & Lardner LLP

What GCs Exploring NFT, Web3 Opportunities Need to Know

Foley & Lardner LLP on

Companies across every industry are jumping into non-fungible tokens (NFTs), seeking to seize what they perceive as huge business opportunities. Attorneys working in the space see myriad reasons to be bullish, despite a...more

A&O Shearman

[Webinar] What’s next for banks: U.S. spotlight on digital assets - April 6th, 1:00 pm - 2:00 pm EDT

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As part of our ongoing series of virtual panel discussions exploring a select number of themes instrumental in shaping the future of the global banking sector, our next webinar will focus on digital assets. In this session,...more

Perkins Coie

DOJ’s New National Cryptocurrency Enforcement Team Portends Wave of Criminal Scrutiny

Perkins Coie on

On October 6, 2021, Deputy Attorney General Lisa O. Monaco announced that the U.S. Department of Justice (DOJ) is stepping further into the cryptocurrency fray by creating the National Cryptocurrency Enforcement Team (NCET)....more

BakerHostetler

Crypto Exchanges Announce Market Developments, US Report Addresses Crypto Tax, New DOJ and SEC Enforcement, Reports Detail Crypto...

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Cryptocurrency Exchanges and Financial Firms Announce Market Developments. Last week, Coinbase signified its intent to become a publicly traded company by announcing a proposed direct listing of its Class A common stock under...more

Goodwin

Department of Justice Announces “Cryptocurrency: An Enforcement Framework”

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On October 8, 2020, the Attorney General’s Cyber Digital Task Force announced the release of a publication entitled Cryptocurrency: An Enforcement Framework (the “Enforcement Framework”). The Enforcement Framework describes...more

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