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Virtual Currency › Ponzi Scheme › Fraud

Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender... more +
Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency.    less -
Foodman CPAs & Advisors

Fraud Is The Number One Crime In Money Laundering

Foodman CPAs & Advisors on

On February 2024, the U.S. Treasury released the 2024 National Money Laundering Risk Assessment (NMLRA) which examines the current money laundering environment and identifies the ways in which criminals and other actors seek...more

McGuireWoods LLP

Notable Litigation – January 2024

McGuireWoods LLP on

Notable litigation filed during January 2024 includes: (1) Bajuri v. Shiba Prop, LLC, et al. and (2) SEC v. Lee, et al....more

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - December 2023 Updates

Akin Gump Strauss Hauer & Feld LLP on

On the one hand, the year ended where it began. The legislation on stabelecoins and market structure that would provide a regulatory framework for digital assets has still not been enacted into law. And Securities and...more

Sheppard Mullin Richter & Hampton LLP

DOJ Charges Six Individuals with NFT Fraud

Sheppard Mullin Richter & Hampton LLP on

On June 30, the DOJ charged six individuals in four separate cases for a fraudulent NFT trading scheme. The first case alleged that an individual committed wire fraud and engaged in a conspiracy to commit international...more

SECIL Law

Deconstructing the SEC's Cryptocurrency-Suppression Program: Part Two

SECIL Law on

Origins of Cryptocurrency Prohibition - Introduction - This is Part II of a series of articles that addresses the Securities and Exchange Commission (“SEC”)’s suppression of cryptocurrency, or what we call private digital...more

BakerHostetler

Ethereum Fork Successful, Solutions Target Sneakers and Browsers, EU and NY Consider Regulations, Enforcement Actions Continue

BakerHostetler on

Ethereum Fork Implemented, Exchanges Expand Services, New Bitcoin Network Data - The Ethereum network’s Istanbul hard fork went forward late last week with the support of node operators, miners and cryptocurrency exchanges. ...more

Sheppard Mullin Richter & Hampton LLP

CFTC Cryptocurrency Enforcement Receives Further Judicial Support

Sheppard Mullin Richter & Hampton LLP on

The Commodity Futures Trading Commission (“CFTC”) obtained an important court win and boost to its regulatory authority over Cryptocurrencies this month. A federal district court in Massachusetts recently issued a decision in...more

Fox Rothschild LLP

CFTC’s Virtual Currency Task Force Files Suit To Shut Down Another Virtual Currency Scam

Fox Rothschild LLP on

Last week we reported on a flurry of enforcement activity by the Commodities Futures Trading Commission’s “Virtual Currency Task Force” with respect to virtual current fraud schemes. On Thursday, January 18, the CFTC filed...more

Perkins Coie

Fintech Week in Review – October 2017

Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 9.21.16

Robins Kaplan LLP on

Testifying before the Senate Banking Committee yesterday, Wells Fargo CEO John Stumpf admitted that the illegal sham-account-creation activity at the heart of its recent SEC fine may have begun earlier than first reported....more

Pillsbury - Internet & Social Media Law Blog

Bitcoin Scheme Worthy of Charles Ponzi

Pillsbury - Internet & Social Media Law Blog on

On July 23, 2013 the Securities and Exchange Commission ("SEC") announced it was bringing charges in a Texas federal court against Trendon Shavers for allegedly using a Bitcoin Ponzi scheme to defraud investors between...more

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