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Financial Crimes Digital Assets Today's Popular Updates

Ballard Spahr LLP

Navigating FinCEN’s Actions on Huione Group: Strengthening Defenses Against Money Laundering

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On May 1, 2025, the Financial Crimes Enforcement Network (FinCEN) released a Notice of Proposed Rulemaking (NPRM) regarding the Huione Group, a foreign financial institution located in Cambodia. This proposal, enacted under...more

Paul Hastings LLP

The Bybit Hack of 2025 — Potential Implications

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On February 21, 2025, Dubai-based Bybit, one of the world’s leading cryptocurrency exchanges, suffered a massive security breach, resulting in the loss of approximately $1.5 billion in Ethereum (ETH). The incident, which is...more

BakerHostetler

Weekly Blockchain Blog - February 2025

BakerHostetler on

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

Ballard Spahr LLP

Blockchain Analysis and Related Expert Testimony Admissible In Criminal Trial

Ballard Spahr LLP on

It is challenging for law enforcement to track down and trace illicit activities conducted through digital currencies. The process can be very time- and resource-intensive. Further, securing charges and arrests, and...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

American Conference Institute (ACI)

[Event] 22nd Annual Canadian Forum on Anti-Money Laundering and Financial Crime - June 7th - 8th, Toronto, Ontario, Canada

AML compliance for reporting entities has never been of greater critical importance than it is today. With the growing sophistication of criminals and the methods and technologies that they employed, combined with 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

Top NFT-Related Cybersecurity, Phishing, Hacking and Other Risks in 2022

BakerHostetler on

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

K2 Integrity

U.S. Authorities Amplify Enforcement Efforts to Address Financial Crime Risks in the Digital Asset Industry

K2 Integrity on

The United States Department of the Treasury has continued to signal that it will focus policy, regulatory, and enforcement attention on the financial crime and sanctions risk in the crypto and digital asset ecosystem...more

Husch Blackwell LLP

US DOJ Responds to Biden Executive Order on Digital Assets

Husch Blackwell LLP on

On March 9, 2022, President Joseph Biden issued Executive Order 14067, which charged the Department of Justice (in consultation with the Departments of State, Treasury, and Homeland Security) to submit a report on how to...more

Faegre Drinker Biddle & Reath LLP

FBI Announces Increased Focus on Illegal Financial Transactions Involving Cryptocurrency

Cryptocurrency has increasingly become an accepted form of financial exchange. However, it has also become a favored form of payment for cyber criminals. In an effort to deter the use of cryptocurrencies in furtherance of...more

A&O Shearman

Money laundering concerns prompt consultation on regulation of virtual asset service providers in Hong Kong

A&O Shearman on

(i) a licensing regime for virtual asset trading platforms in Hong Kong, including anti-money laundering obligations; (ii) a two-tier registration regime for dealers in precious metals and stones; and...more

Hogan Lovells

FCA sets out approach to AML crypto supervision

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A Director of Enforcement at the Financial Conduct Authority (FCA)  has set out some of the key challenges the regulator expects in its new role as AML/CTF (anti-money laundering/counter terrorist financing) supervisor for...more

Polsinelli

BitBlog Bi-Weekly Update - March 2020

Polsinelli on

Strikeout for Bitcoin ETF -   Another ETF bites the dust. On February 26th the SEC rejected the application of NYSE Acre for the approval of an exchange traded fund sponsored by the New York firm of Wilshire Phoenix to...more

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