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Market Participants Anti-Money Laundering

Goodwin

Luxembourg Strengthens Its Regulatory Framework for Crypto-Assets with the Implementation of MiCAR

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On 10 February 2025, the law of 6 February 2025 regarding, notably, digital finance was published in the Official Journal of Luxembourg (the “Law”)....more

Latham & Watkins LLP

FinCEN Seeks Enhanced Oversight of Crypto Mixing

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A proposed rule would increase Treasury’s insight into non-US crypto mixing transactions to combat illicit activities by malicious actors. On October 19, 2023, the US Department of the Treasury’s Financial Crimes...more

Holland & Knight LLP

Thorough Exam: SEC's Division of Examinations Announces Fiscal Year 2024 Priorities

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Amid ongoing federal government shutdown risks and the close of its fiscal year, the U.S. Securities and Exchange Commission's (SEC) Division of Examinations (Exams) recently announced its fiscal year (FY) 2024 priorities....more

Goodwin

CFTC Attempts to Extend Liability to DAO Participants

Goodwin on

In a first of its kind enforcement action, the Commodity Futures Trading Commission (“CFTC”) is attempting to hold participating members of a decentralized autonomous organization (“DAO”) liable for alleged violations of the...more

BakerHostetler

Global Tax Enforcement Group Provides NFT Red Flag Guidance

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Key Takeaways - ..The Joint Chiefs of Global Tax Enforcement (J5) issued its first intelligence bulletin providing guidance to banks, law enforcement partners and private investigators regarding indicators of potential...more

BakerHostetler

Treasury Department Releases AML Study on the Art Market

BakerHostetler on

On Jan. 1, 2021, Congress passed the Anti-Money Laundering Act of 2020 (AMLA) which expanded the definition of “financial institution” to impose anti-money laundering (AML) requirements on persons “engaged in the trade of...more

Latham & Watkins LLP

Hong Kong Confirms New Regulatory Licensing Regime for Virtual Asset Exchanges

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The Hong Kong government has issued its widely anticipated consultation conclusions on a new framework to regulate virtual asset exchanges. On 21 May 2021, the Hong Kong Financial Services and the Treasury Bureau (FSTB)...more

K2 Integrity

As COVID-19 Drives More Art Auctions Online, How Do Market Participants Maintain Financial Crimes Compliance?

K2 Integrity on

With the global economy reeling from the direct effects of the COVID-19 pandemic, no sector is spared from its impact, including the art market. As auction houses seek to find ways to sustain business during this time of...more

BCLP

Additional Compliance for the Art World

BCLP on

Individuals, trusts and companies buying or selling art via UK galleries and auction houses will now be subject to the same customer due diligence checks as those opening bank accounts in the UK. What has changed? The...more

McDermott Will & Schulte

Rapidly Shifting Regulatory Landscape for Virtual Currencies | Market Participants: Stay Tuned

As US regulators have been active in terms of virtual currency regulation, there are three important updates to which attention should be paid. The New York State DFS guidance, the FinCEN letter to Senator Wyden and the...more

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