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Regulatory Oversight › Virtual Currency › Risk Management

Conyers

Regulatory Update: Cayman Islands VASP Licensing Regime Now in Effect

Conyers on

The Cayman Islands Government has taken a significant step in the regulation of virtual asset service providers (VASPs) with the commencement of the licensing regime under the Virtual Asset (Service Providers) Act (as...more

Conyers

The Importance of Sound Corporate Governance for Virtual Asset Service Providers: Lessons from Past Failures

Conyers on

In recent years, the virtual asset industry has experienced exponential growth, bringing about innovations in digital payments, tokenisation and decentralised finance (Defi). While highly innovative, the volatile nature of...more

Faegre Drinker Biddle & Reath LLP

OFAC Issues Sanctions Compliance Guidance for Virtual Currencies

Faegre Drinker Biddle & Reath LLP on

In October, the United States Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) published new guidance for the virtual currency industry focusing on compliance with the financial industry’s obligations...more

Sheppard Mullin Richter & Hampton LLP

Sanctions Compliance for Crypto: OFAC Issues Guidance Targeting Virtual Currency Industry

Sheppard Mullin Richter & Hampton LLP on

Last Friday, the Office of Foreign Assets Control (OFAC) published more targeted guidance for digital asset companies related to compliance with sanctions and best practices for mitigating risks. This guide comes on the heels...more

Orrick - On the Chain

Cryptocurrency and OFAC: Beware of the Sanctions Risks

Orrick - On the Chain on

A recent federal criminal action shows the depth of the U.S. government’s concern about the use of cryptocurrency (or virtual currency) to violate economic sanctions laws and the lengths to which it will go to charge such...more

Proskauer - Blockchain and the Law

Cryptoasset Exchanges Respond to New York Attorney General’s Virtual Markets Integrity Initiative

Proskauer - Blockchain and the Law on

On April 17, 2018, the New York Attorney General’s Office (“OAG”) launched a Virtual Markets Integrity Initiative and sent letters to thirteen cryptoasset trading platforms requesting, through a questionnaire, disclosures on...more

Ballard Spahr LLP

Global Regulators to Maintain AML Pressure on the Cryptocurrency Industry

Ballard Spahr LLP on

On February 23, the Financial Action Task Force (“FATF”) signaled that the inter-governmental body “will step up its efforts in monitoring the use of cryptocurrencies in money laundering.” ...more

Herbert Smith Freehills Kramer

U.S. Senate Hearing on Cryptocurrencies

Herbert Smith Freehills Kramer on

On Feb. 6, Jay Clayton and Christopher Giancarlo, the chairmen of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), respectively, jointly testified before the Senate Banking...more

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