The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has proposed a rule (the Proposed Rule) to implement certain aspects of the Anti-Money Laundering Act of 2020 (the AML Act), which updated the...more
7/17/2024
/ AML/CFT ,
Anti-Money Laundering ,
Anti-Terrorism Financing ,
Bank Secrecy Act ,
Financial Institutions ,
Financial Regulatory Reform ,
FinCEN ,
Investment Management ,
Popular ,
Proposed Rules ,
Securities and Exchange Commission (SEC)
The Corporate Transparency Act and its implementing regulations (together CTA) came into effect on January 1, 2024, requiring entities within its scope to disclose information, including about their beneficial owners, to the...more
2/2/2024
/ Beneficial Owner ,
Business Entities ,
Business Ownership ,
Corporate Governance ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
New York ,
Popular ,
Regulatory Agenda ,
Regulatory Requirements ,
Reporting Requirements
On January 17, 2023, U.S. law enforcement authorities in Miami arrested Anatoly Legkodymov, a Russian national and the founder and majority owner of Hong Kong-based virtual currency exchange Bitzlato Ltd., on charges of money...more
2/7/2023
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Crypto Exchanges ,
Cryptocurrency ,
Enforcement Actions ,
EU ,
Financial Crimes ,
FinCEN ,
Law Enforcement ,
Money Laundering ,
NDAA ,
Patriot Act ,
Popular ,
Russia ,
U.S. Treasury ,
Virtual Currency ,
White Collar Crimes
On September 16, 2022, the U.S. Department of the Treasury and Department of Justice released four much-anticipated reports on different aspects of cryptoasset regulation. They confirm the Biden administration’s broad but...more
9/29/2022
/ Biden Administration ,
Blockchain ,
Criminal Investigations ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement Actions ,
Financial Regulatory Agencies ,
Non-Fungible Tokens (NFTs) ,
Popular ,
U.S. Treasury
A flurry of legal and enforcement activity has arisen over the last two weeks across a wide range of areas in the Web3 space, including actions by the Securities and Exchange Commission, the Office of Foreign Assets Control,...more
8/25/2022
/ Bitcoin ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Markets ,
FinTech ,
OCC ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Smart Contracts ,
Virtual Currency
Since the publication of our February 26, 2022, client alert, the United States, United Kingdom and the European Union, among other allied nations, have imposed additional sanctions and export controls on key elements of the...more
3/10/2022
/ Belarus ,
Blocking Sanctions ,
Bureau of Industry and Security (BIS) ,
Economic Sanctions ,
Export Controls ,
Financial Institutions ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
SWIFT ,
Ukraine
The United States, United Kingdom and the European Union, among other allies, have moved swiftly in response to the Russian Federation’s invasion of Ukraine. Merely hours after Russia’s announcement on February 21, 2022, that...more