On April 4, 2024, the Consumer Financial Protection Bureau (CFPB) issued a new report, titled “Banking in Video Games and Virtual Worlds” (Report), that examines the growth of financial transactions in online video games and...more
4/16/2024
/ Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Digital Marketplace ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Financial Transactions ,
Fraud ,
Risk Assessment ,
Social Media ,
Third-Party ,
Unfair or Deceptive Trade Practices ,
Video Games ,
Virtual Reality
The Consumer Financial Protection Bureau (CFPB) published a proposed rule on November 7, 2023, that, if finalized, would subject to its supervisory authority certain Big Tech firms and other nonbank companies operating in the...more
What Happened?
The New York Department of Financial Services (NYDFS or Department) released proposed updates to its guidance on the self-certification process for listing and delisting digital assets. It also announced...more
On February 15, 2023, the U.S. Securities and Exchange Commission (SEC) published sweeping and controversial proposed amendments to Rule 206(4)-2 (Custody Rule) under the Investment Advisers Act of 1940 (Advisers Act). Last...more
...Treasury Releases National Risk Assessments -
The U.S. Department of the Treasury (Treasury) issued the 2022 National Risk Assessments (NRAs) on (1) money laundering, (2) terrorist financing, and (3) proliferation...more
3/18/2022
/ Anti-Terrorism Financing ,
Bitcoin ,
Blockchain ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Financial Conduct Authority (FCA) ,
FinCEN ,
Non-Fungible Tokens (NFTs) ,
Ponzi Scheme ,
Risk Assessment ,
Russia ,
Securities and Exchange Commission (SEC) ,
Ukraine ,
Virtual Currency
U.S. Congress to Hold Oversight Hearing on the Mining of Cryptocurrency -
NY DFS to Hire New Deputy Superintendent -
Recent Federal Regulator Announcements Signal Changes in Senior Leadership at the SEC, CFTC, and FDIC...more
1/13/2022
/ Bitcoin ,
Blockchain ,
CFTC ,
Commodity Exchange Act (CEA) ,
Cryptocurrency ,
Enforcement ,
EU ,
FDIC ,
Non-Fungible Tokens (NFTs) ,
NYDFS ,
Regulatory Agencies ,
Securities and Exchange Commission (SEC) ,
Virtual Currency
US Regulatory Developments BitMEX CEO to Surrender on AML Charges BitMEX’s founder and former CEO, Arthur Hayes, reached an agreement with U.S. officials to surrender to federal charges. On October 1, 2020, the U.S....more
3/29/2021
/ Advertising Standards Authority ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Bitcoin ,
Central Bank of Ireland ,
CFTC ,
Cryptoassets ,
Cryptocurrency ,
Enforcement Actions ,
EU ,
UK ,
Virtual Currency
US Regulatory Developments -
US Senate Confirms Janet Yellen as Secretary of the Treasury -
The U.S. Senate confirmed Janet Yellen’s appointment as secretary of the treasury after a vote on Monday. Secretary Yellen...more
2/5/2021
/ Anti-Money Laundering ,
Applications ,
Bitcoin ,
Blockchain ,
Coinbase ,
Cryptocurrency ,
Digital Currency ,
FinCEN ,
Foreign Investment ,
Philippines ,
Popular ,
Public Offerings ,
Rulemaking Process ,
Securities and Exchange Commission (SEC)
US Developments -
Federal Reserve Publishes Observations From “FooWire” Project -
The Federal Reserve published the results from its experimental project, “FooWire.” The project was an effort to build a simple payment...more
9/2/2020
/ Blockchain ,
China ,
Cryptocurrency ,
Digital Currency ,
Federal Reserve ,
Massachusetts Institutie of Technology (MIT) ,
Mining ,
Ponzi Scheme ,
Popular ,
Securities and Exchange Commission (SEC) ,
Singapore
Weekly Focus:
-ICO Issuer Settles SEC Registration Charges
- IRS and Cryptocurrency Industry Groups to Meet Amid Agency Enforcement Push
- Washington Blockchain Work Group Bill Passes State Senate
- Brazilian Central...more