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Bank Secrecy Act › Blockchain

The Bank Secrecy Act is a United States federal statute enacted in 1970 to detect and prevent money laundering within financial institutions. The BSA requires financial institutions to keep records and provide... more +
The Bank Secrecy Act is a United States federal statute enacted in 1970 to detect and prevent money laundering within financial institutions. The BSA requires financial institutions to keep records and provide documentation to authorities for single transactions of more than $10,000 and report other suspicious account activity that could signify money laundering or other financial crimes. less -
DLA Piper

Blockchain and Digital Assets News and Trends - August 2024

DLA Piper on

This monthly bulletin is designed to help companies identify important legal developments governing the use and acceptance of blockchain technology, smart contracts, and digital assets....more

BakerHostetler

Weekly Blockchain Blog - August 2024 #4

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Financial Firms Announce Crypto Initiatives, Stablecoin Growth Continues - A major U.S. crypto investment company recently announced the launch of its Avalanche Trust, which “offers investors the opportunity to gain...more

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - May 2024 Updates

Akin Gump Strauss Hauer & Feld LLP on

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

Ballard Spahr LLP

PLI Anti-Money Laundering Conference to Address Key Issues in BSA/AML (UPDATED)

Ballard Spahr LLP on

I am very pleased to co-chair again the Practicing Law Institute’s 2024 Anti-Money Laundering Conference on May 23, 2024, starting at 9 a.m. in New York City (the event also will be virtual).  I am also really fortunate to be...more

WilmerHale

“Decentralized Finance (DeFi),” Fintech, Regtech, and the Financial Services Industry (Ch. 8A)

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Decentralized Finance (DeFi) is an umbrella term used to describe financial services provided outside of the traditional markets, that rely on blockchain technologies to create innovative products instead of relying on...more

The Volkov Law Group

Episode 302 -- Matt Stankiewicz on DOJ's Massive Criminal Settlement with Cryptocurrency Exchange Binance and its CEO Changpeng...

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On November 21, 2023, The U.S. Department of Justice (“DOJ”) announced settlement agreements with Binance Holdings Limited (“Binance”), the world’s largest cryptocurrency exchange, and Changpeng Zhao (affectionally known as...more

Oberheiden P.C.

National Security in the Age of Blockchain

Oberheiden P.C. on

Blockchain presents unprecedented challenges around national security. This is true not only for the federal government, but also for businesses in the private sector. From cross-border transactions involving cryptocurrency...more

Kohn, Kohn & Colapinto LLP

Cryptocurrencies Mirrored a New Gold Rush, Then Ended Up Similarly: With Scammers Going to Jail

Kohn, Kohn & Colapinto LLP on

Despite the excitement that surrounded original cryptocurrencies like Bitcoin, the dust eventually settled, revealing that only a few early investors got rich and many others lost their life savings. But it was not long...more

K2 Integrity

Crypto in a Time of Uncertainty

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On 07 June 2023, K2 Integrity hosted a webinar on the state of cryptocurrency and digital assets in a rapidly evolving regulatory landscape. A discussion was held with Bryan Stirewalt, senior managing director at K2...more

Shipkevich PLLC

US Treasury Releases Risk Assessment Report on Decentralized Finance

Shipkevich PLLC on

On April 6, 2023, the US Department of the Treasury released a report analyzing the risks of decentralized finance (DeFi) and potential vulnerabilities in the United States' anti-money laundering (AML) and countering the...more

Latham & Watkins LLP

Blockchain Regulatory Certainty Act Would Protect Non-Custodial Crypto Services

Latham & Watkins LLP on

The bipartisan bill would provide a federal safe harbor for non-custodial blockchain service providers from state money transmission and digital asset licensing laws. On March 23, 2023, US House of Representatives...more

Ballard Spahr LLP

NYDFS Releases Virtual Currency Guidance for Banking Organizations

Ballard Spahr LLP on

On December 15, 2022, the New York Department of Financial Services (“NYDFS”) published an Industry Letter detailing the Department’s guidance regarding banking organizations that wish to engage in virtual currency-related...more

Harris Beach PLLC

Potential BSA/AML Roadmap – Crypto Exchange Bittrex Enforcement Actions

Harris Beach PLLC on

The U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) and Office of Foreign Assets Control (“OFAC”) settled enforcement actions with Washington state-based Bittrex. In the two settlements, Bittrex...more

Sheppard Mullin Richter & Hampton LLP

Blockchain Game Developers and FinCEN: When are State Money Transmission Laws Applicable?

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The rising prevalence of crypto and virtual currencies has invited the scrutiny of several regulatory bodies who continue to grapple with the unique challenges posed by blockchain technology, FinCEN being one prime example....more

K2 Integrity

Opportunities, Risks, and Compliance in the Digital Assets Space

K2 Integrity on

On 14 September 2022, K2 Integrity hosted a webinar on considerations in the digital assets space. K2 Integrity Board Member Christopher Brummer and AML/CFT experts Mariano Federici and Alex Levitov discussed the current...more

ArentFox Schiff

Biden Administration Offers More Details on Emerging Crypto Regulatory Scheme

ArentFox Schiff on

The Biden Administration, after ordering a series of reports on the risks and potential benefits of cryptocurrency and digital assets in its March 9, 2022, Executive Order (EO), has now published the “Comprehensive Framework...more

Harris Beach PLLC

Recent Enforcement Actions Indicate Heightened Scrutiny of BSA/AML Compliance and Digital Assets

Harris Beach PLLC on

Recent enforcement actions against banks indicate a new regulator emphasis on digital assets and Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance. Last year, Anchorage Digital Bank (Anchorage)—formerly Anchorage...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

Oberheiden P.C.

Tokenization Lawyer – 5 Reasons Why You Might Need One

Oberheiden P.C. on

What is Tokenization? Tokenization is the process of converting an asset into a token on the blockchain. It operates by dividing—or fractionalizing—the ownership of an asset (whether the asset is a piece of real estate or...more

Oberheiden P.C.

NFT Lawyer – 5 Things You Must Consider Before Hiring

Oberheiden P.C. on

NFTs, or non-fungible tokens, are digital assets that are sharply rising in popularity. Every day, individuals are launching new NFT projects with similar or new features compared to prior NFT projects. NFTs are attractive to...more

BakerHostetler

[Podcast] Blockchain University: Relationship Drama: Cryptocurrencies, Blockchain and the Law

BakerHostetler on

Our fifth episode provides an overview of the key legal issues facing cryptocurrencies and blockchain in the U.S....more

Goodwin

FinCEN Issues Report Addressing NFTs

Goodwin on

On February 4, 2022, the Treasury Department’s Financial Crimes Enforcement Network (FINCEN) jumped into the regulatory discussion about non-fungible tokens (“NFTs”) - more with a whisper than a bang - in a report on its...more

Eversheds Sutherland (US) LLP

Treasury study expresses concern about money laundering risks associated with NFTs 

Eversheds Sutherland (US) LLP on

On February 4, 2022, the US Department of the Treasury (the Treasury) released the “Study of the Facilitation of Money Laundering and Terror Finance through the Trade in Works of Art” (the Report). The Report examines the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cryptocurrency Regulation and Enforcement at the US Federal and State Levels

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In recent months, the increased focus on cryptocurrency regulation and enforcement at both the federal and state levels demonstrates the digital currency’s place as an established component of the financial landscape. At the...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - August 2021

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This issue discusses a variety of legal, regulatory and enforcement developments in the digital asset space in the U.S. and Europe, including expanded reporting requirements for broadly defined cryptocurrency “brokers,” a...more

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