The California Department of Financial Protection and Innovation (DFPI) has released proposed regulations implementing the Digital Financial Assets Law (DFAL), creating a formal licensing regime for businesses engaging in a...more
4/23/2025
/ Comment Period ,
Cryptocurrency ,
Department of Financial Protection and Innovation (DFPI) ,
Digital Assets ,
FinTech ,
Licensing Rules ,
Money Transmission Act ,
NMLS ,
Proposed Rules ,
Public Comment ,
Regulatory Requirements
On March 21, 2025, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) officially lifted sanctions on Tornado Cash, the decentralized cryptocurrency mixer it had blacklisted in August 2022....more
4/9/2025
/ Appeals ,
Biden Administration ,
Blacklist ,
Blockchain ,
Cryptocurrency ,
Delisting ,
Digital Assets ,
Economic Sanctions ,
Enforcement Actions ,
FinTech ,
Hackers ,
Judicial Review ,
Money Laundering ,
North Korea ,
Office of Foreign Assets Control (OFAC) ,
Smart Contracts ,
Trump Administration
For years, UK-based consumer finance and payments firms have viewed the U.S. regulatory landscape as complex, fragmented, and challenging when it comes to expansion. But 2025 may prove to be a turning point....more
President Trump issued an executive order last week targeting government regulation of the digital asset industry to support the "responsible growth and use of digital assets." On the campaign trail, Trump promised to make...more
The Consumer Financial Protection Bureau (CFPB) has proposed an interpretive rule aimed at addressing what it views as ambiguities in the application of the Electronic Fund Transfer Act (EFTA) and its implementing Regulation...more
1/23/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Digital Assets ,
Digital Platforms ,
EFTA ,
Financial Services Industry ,
FinTech ,
Online Gaming ,
Online Marketplace ,
Payment Systems ,
Proposed Rules ,
Regulation E
The Federal Trade Commission (FTC) announced it has reached a settlement with the bankrupt crypto company Voyager over the company’s alleged deceptive crypto marketing practices. Specifically, the FTC’s complaint alleges that...more
10/17/2023
/ Advertising ,
Banking Sector ,
Banks ,
Cease and Desist ,
Commercial Bankruptcy ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Deposit Insurance ,
False Advertising ,
FDIC ,
Federal Trade Commission (FTC) ,
FTC Act ,
Gramm-Leach-Blilely Act ,
Settlement Negotiations
On August 8, 2023, the Federal Reserve released new guidance for supervised banking organizations on how they can engage in certain crypto-asset-related activities. With the release of the guidance, the Federal Reserve...more
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC) announced yesterday that they had reached settlements for over $24 million and $29 million,...more
10/14/2022
/ Bank Secrecy Act ,
BSA/AML ,
Compliance ,
Crypto Exchanges ,
Cryptocurrency ,
Economic Sanctions ,
Financial Institutions ,
FinCEN ,
Jurisdiction ,
Money Transmitter ,
Office of Foreign Assets Control (OFAC) ,
Prohibited Transactions ,
Reporting Requirements ,
Settlement ,
Suspicious Activity Reports (SARs) ,
Trading Platforms ,
U.S. Treasury ,
Willful Violations
A class action lawsuit filed against Kim Kardashian, Floyd Mayweather, and former professional basketball player Paul Pierce earlier this month underscores the need for celebrity endorsers to take care when they approach any...more
2/9/2022
/ Blockchain ,
Celebrity Endorsements ,
Class Action ,
Cryptocurrency ,
Digital Currency ,
Ethereum ,
Pump and Dump ,
Risk Management ,
Securities Regulation ,
Social Networks ,
Vendors ,
Virtual Currency
A class action lawsuit filed against Kim Kardashian, Floyd Mayweather, and former professional basketball player Paul Pierce earlier this month underscores the need for celebrity endorsers to take care when they approach any...more
1/19/2022
/ Advertising ,
Aiding and Abetting ,
Blockchain ,
Celebrity Endorsements ,
Class Action ,
CLRA ,
Cryptocurrency ,
Digital Currency ,
Disclosure Requirements ,
Ethereum ,
Financial Services Industry ,
Influencers ,
Investment ,
Marketing ,
Non-Fungible Tokens (NFTs) ,
Online Endorsements ,
Pump and Dump ,
Restitution ,
Social Media ,
Token Sales ,
Unfair Competition Law (UCL) ,
Unfair or Deceptive Trade Practices ,
Unjust Enrichment