Introduction -
Cryptocurrencies have surged in popularity in recent years. As we have reported in recent OnPoints, the swift growth and adoption of cryptocurrencies raise legal questions about everything from their...more
The Board of Governors of the Federal Reserve on January 20, 2022, published a discussion paper (the “Paper”) concerning the possibility of creating a central bank digital currency (“CBDC”). The Paper discusses the uses,...more
2/11/2022
/ Central Bank Digital Currency (CBDCs) ,
Comment Period ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Federal Reserve ,
Financial Instruments ,
Financial Markets ,
Financial Regulatory Reform ,
Financial Transactions ,
Popular ,
Regulatory Agenda
As we recently noted in our OnPoint dated October 20, 2021, the rise in interest from retail and institutional investors in the cryptocurrency market has attracted increased regulatory and enforcement attention in the past...more
11/17/2021
/ Bitcoin ,
Capital Gains ,
Cryptocurrency ,
Digital Currency ,
Enforcement Priorities ,
Financial Transactions ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Investment ,
IRS ,
Popular ,
Regulatory Requirements ,
Reporting Requirements ,
Tax Liability ,
Tax Planning ,
Tax Reform ,
Virtual Currency
Key Takeaways - The federal government has the cryptocurrency market in its crosshairs. Specifically, the DOJ, SEC and CFTC have all continued to make announcements and show interest in regulating cryptocurrency and enforcing...more
Blockchain technology continues to mature and gain acceptance for a wide range of potentially disruptive financial and commercial uses. In the wake of COVID-19, we have seen an increased focus on the research and development...more
8/18/2020
/ 3D Printing ,
Bank of England ,
Blockchain ,
China ,
Coronavirus/COVID-19 ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Digital Currency ,
Financial Institutions ,
FinTech ,
Innovative Technology ,
Japan ,
Medical Devices ,
MiPasa ,
Popular ,
Stablecoins ,
UK ,
Virtual Currency ,
World Health Organization
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued guidance on May 9, 2019, underscoring the application of the Bank Secrecy Act (BSA) and its implementing regulations relating to money...more
5/22/2019
/ Anti-Money Laundering ,
ATMs ,
Bank Secrecy Act ,
Casinos ,
Compliance ,
Convertible Virtual Currencies (CVCs) ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Enforcement Actions ,
Exemptions ,
Financial Institutions ,
FinCEN ,
Initial Coin Offering (ICOs) ,
Money Laundering ,
Money Services Business ,
Money Transfer ,
New Guidance ,
Payment Processors ,
Peer-to-Peer ,
Risk Assessment ,
Terrorism Funding ,
Trading Platforms ,
Virtual Currency
The staff of the Divisions of Enforcement and Trading and Markets (collectively, Staff) of the U.S. Securities and Exchange Commission (SEC) on March 7, 2018 jointly issued a statement on digital asset trading platforms...more
3/28/2018
/ Alternative Trading System (ATS) ,
Broker-Dealer ,
CFTC ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Enforcement Actions ,
Initial Coin Offering (ICOs) ,
Investor Protection ,
Investors ,
Market Participants ,
Personal Liability ,
Registration Requirement ,
Securities ,
Securities and Exchange Commission (SEC) ,
Token Sales
Since January 2017, more than $2 billion has been raised through the rapidly growing market for so-called “token sales” or “initial coin offerings” (ICOs). The U.S. Securities and Exchange Commission (SEC) announced on July...more
10/7/2017
/ BaFin ,
Banking Restrictions ,
Banks ,
China ,
Corporate Counsel ,
Corporate Issuers ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Financial Services Industry ,
Germany ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Initial Coin Offering (ICOs) ,
Investors ,
Monetary Authority of Singapore ,
People's Bank of China ,
Securities and Exchange Commission (SEC) ,
Singapore ,
Token Sales ,
UK ,
Unregistered Securities ,
Young Lawyers