Through a series of coordinated actions in May 2023, the United States launched a whole-of-government effort to expand and strengthen enforcement of its sanctions campaign against Russia as the conflict in Ukraine continues...more
6/6/2023
/ Anti-Money Laundering ,
Bureau of Industry and Security (BIS) ,
CFIUS ,
Economic Sanctions ,
Export Controls ,
Financial Institutions ,
FinCEN ,
International Trade ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Russia
Regulatory scrutiny of the use and management of cryptocurrency and other digital assets such as utility tokens and non-fungible tokens (NFTs) (collectively, cryptoassets) is rapidly growing on both sides of the Atlantic....more
9/13/2022
/ Blockchain ,
Criminal Investigations ,
Cryptoassets ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Assets ,
Financial Regulatory Agencies ,
FinCEN ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC)
On October 8, 2021, the Financial Industry Regulatory Authority (FINRA) issued a Regulatory Notice urging its member firms (i.e., broker-dealers) to consider how they will incorporate the U.S. Treasury Department’s...more
In recent months, the increased focus on cryptocurrency regulation and enforcement at both the federal and state levels demonstrates the digital currency’s place as an established component of the financial landscape. At the...more
10/1/2021
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BitMEX ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Assets ,
Digital Currency ,
FinCEN ,
Homeland Security Cybersecurity & Infrastructure Security Agency (CISA) ,
IRS ,
Office of Foreign Assets Control (OFAC) ,
Ransomware ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)
This issue discusses a variety of legal, regulatory and enforcement developments in the digital asset space in the U.S. and Europe, including expanded reporting requirements for broadly defined cryptocurrency “brokers,” a...more
8/27/2021
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BitMEX ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
FinCEN ,
Popular ,
Reporting Requirements ,
Smart Contracts
On June 30, 2021, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued its first government-wide priorities (Priorities) for combatting money laundering and the financing of terrorism.1...more
7/22/2021
/ AML/CFT ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Financial Institutions ,
FinCEN ,
Human Trafficking ,
Internal Controls ,
National Security ,
Terrorist Financing ,
Terrorist Financing Regulations
Sanctions -
The Biden administration has made clear that economic sanctions will continue to be an important U.S. foreign policy tool and has initiated a comprehensive review of current sanctions policies and practices....more
The Biden administration is widely expected to be tougher on corporate wrongdoing than its predecessor. Although there have not yet been significant changes to existing policies, key nominations to date and early enforcement...more
4/30/2021
/ Anti-Corruption ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Biden Administration ,
CARES Act ,
Criminal Prosecution ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Enforcement Actions ,
FinCEN ,
Paycheck Protection Program (PPP) ,
Securities and Exchange Commission (SEC) ,
White Collar Crimes
This issue discusses a variety of legal, regulatory and enforcement developments in the digital asset space in the U.S. and Europe....more
4/19/2021
/ Bitcoin ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
Ethereum ,
FinCEN ,
Initial Coin Offering (ICOs) ,
Investment Adviser ,
Non-Fungible Tokens (NFTs) ,
Securities and Exchange Commission (SEC) ,
Smart Contracts ,
Virtual Currency
Recent and significant regulatory and legislative events in the digital asset space demonstrate the evolving and expanding approach by U.S. and international regulators to the burgeoning digital asset markets. These...more
10/31/2020
/ Banks ,
Blockchain ,
CFTC ,
Civil Monetary Penalty ,
Consent Order ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Derivatives ,
Digital Assets ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
FinCEN ,
Global Market ,
Initial Coin Offering (ICOs) ,
Legislative Agendas ,
OCC ,
OECD ,
Offshore Listings ,
Regulatory Oversight ,
Restricted Transactions ,
Securities and Exchange Commission (SEC) ,
Securities Tokens ,
Smart Contracts ,
Stablecoins ,
Summary Judgment ,
Taxation ,
UK ,
Virtual Currency
On August 31, 2020, the Office of Information and Regulatory Affairs (OIRA), within the Office of Management and Budget (OMB), issued a memorandum to all executive departments and agencies on reforming regulatory enforcement...more
10/14/2020
/ Administrative Proceedings ,
Best Practices ,
Burden of Proof ,
CFTC ,
Civil Liability ,
Civil Monetary Penalty ,
Criminal Penalties ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Executive Orders ,
FinCEN ,
Office of Foreign Assets Control (OFAC) ,
OMB ,
Publicly-Traded Companies ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Standard of Review