Trade-based money laundering (TBML) describes a set of techniques through which drug traffickers, terrorists and other criminals use the veneer of trade to move illicit funds across borders while disguising the origin and...more
10/16/2023
/ Anti-Money Laundering ,
BSA/AML ,
Criminal Conspiracy ,
Criminal Prosecution ,
Customs and Border Protection ,
Department of Justice (DOJ) ,
Drug Trafficking ,
Enforcement Actions ,
FinCEN ,
Indictments ,
International Trade ,
Law Enforcement ,
Money Laundering ,
Popular ,
re Grand Jury ,
Supply Chain ,
Terrorism Funding ,
Trade-Based Money Laundering
While a conclusion to the much-hyped case may be approaching, market participants should be wary of doomsday prognostications.
As a new year begins, the digital assets industry is still enduring a deep and widespread crypto...more
1/20/2023
/ Aiding and Abetting ,
Blockchain ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Howey ,
Investment Contract ,
Offerings ,
Popular ,
Securities ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Violations ,
Statutory Interpretation ,
Unregistered Securities
The SEC’s reliance on a nebulous US Supreme Court decision raises important questions for the future of decentralized finance.
Reves v. Ernst & Young,[1] a 30-year-old US Supreme Court decision on farmers’ co-ops, is...more
1/26/2022
/ Collateral ,
Decentralized Finance (DeFi) ,
Howey ,
Investment Contract ,
Noteholders ,
Popular ,
Reves Test ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Token Sales
A new proposal would subject financial institutions and exchanges to onerous recordkeeping and reporting requirements for certain digital currency transactions.
In a surprise release in the waning days of the Trump...more
1/15/2021
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Bitcoin ,
Cryptocurrency ,
Digital Assets ,
Ether ,
Financial Institutions ,
FinCEN ,
Money Services Business ,
National Security ,
NDAA ,
Popular ,
Recordkeeping Requirements ,
Reporting Requirements ,
Terrorism Funding ,
Virtual Currency
US Department of Justice’s sprawling report reveals regulatory enforcement priorities for cryptocurrencies and highlights multi-agency cooperation.
On October 8, 2020, the US Attorney General’s Cyber-Digital Task Force of...more
10/20/2020
/ AML/CFT ,
Cryptoassets ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement ,
Financial Regulatory Agencies ,
Information Reports ,
Popular ,
Securities and Exchange Commission (SEC) ,
Strategic Enforcement Plan ,
Suspicious Activity Reports (SARs)
Murgio decision reflects a growing judicial consensus around the application of money transmitting laws to Bitcoin exchangers.
On September 19, 2016, U.S. District Judge Alison J. Nathan of the Southern District of New...more
Cryptocurrency is on the rise...and so are enforcement actions.
In less than a decade, cyptocurrencies have grown from a novelty reserved for those dealing in the illicit into a robust platform embraced by financial...more
12/9/2015
/ Anti-Money Laundering ,
Bitcoin ,
BitLicense ,
CFTC ,
Cryptocurrency ,
Dodd-Frank ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
FinCEN ,
Popular ,
Securities and Exchange Commission (SEC) ,
Young Lawyers
The Ninth Circuit’s recent decision calls into question the Second Circuit’s definition of “personal benefit” for insider trading liability in criminal prosecutions.
On July 6, 2015, United States District Court Judge...more
7/13/2015
/ Broker-Dealer ,
Enforcement Actions ,
Hedge Funds ,
Illegal Tipping ,
Insider Trading ,
Judge Rakoff ,
Material Nonpublic Information ,
Personal Benefit ,
Popular ,
Securities and Exchange Commission (SEC) ,
US v Newman