Summary -
The SEC’s focus on the crypto industry expanded this week to include non-fungible tokens (NFTs). In its first NFT-enforcement action, the SEC settled with Impact Theory, a media and entertainment company, over...more
9/5/2023
/ Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Ethereum ,
Howey ,
Investment Contract ,
Investment Opportunities ,
Non-Fungible Tokens (NFTs) ,
Offerings ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Transactions ,
Securities Violations ,
Unregistered Securities
Summary -
Just when it looked like a victory for the crypto industry in SEC v. Ripple, a mere two weeks later, a different judge in the Southern District of New York disagreed with Ripple’s holding, introducing greater...more
The FTC recently reported that over $650 mm worth of cryptocurrency was stolen by hackers last year. Thus far, over $320 mm in cryptocurrency has been stolen by hackers this year. Not surprisingly, this surge in crypto...more
Treasury Offers Something for Everyone to Comply With: Trades and Businesses, Banks, Crypto Exchangers and Individuals -
On May 21, 2021, the U.S. Department of Treasury (“Treasury”) released its American Families Plan Tax...more
As the world now knows, an indictment against Paul Manafort, Jr., a former campaign chairperson for now-President Donald Trump, and Manafort’s associate, Richard Gates III, was unsealed yesterday. ...more
10/31/2017
/ Bank Secrecy Act ,
Criminal Conspiracy ,
Criminal Investigations ,
FBAR ,
FBI ,
FinCEN ,
Foreign Agents ,
Geographic Targeting Order ,
Indictments ,
IRS ,
Money Laundering ,
Offshore Banks ,
Offshore Funds ,
Political Campaigns ,
Political Corruption ,
Popular ,
Real Estate Investments ,
Regulatory Violations ,
Reporting Requirements ,
Russia ,
Tax Evasion ,
Trump Administration ,
White-Collar Exemptions
The Philippines has been identified by the U.S. as a “major money-laundering country” in the 2017 International Narcotics Control Strategy Report (“Report”), published this month. The country now joins 87 others as one “whose...more
2016 was a busy year for developments in Anti-Money Laundering (AML), the Bank Secrecy Act (BSA), the criminal money laundering statutes, forfeiture, and related issues. In part one of our year-in-review, we discuss six key...more
2/3/2017
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Banks ,
BSA/AML ,
Casinos ,
Consumer Lenders ,
Customer Due Diligence (CDD) ,
FATF ,
Financial Institutions ,
FinCEN ,
Fines ,
Gambling ,
Gaming ,
Geographic Targeting Order ,
Money Laundering ,
Mortgage Lenders ,
Mortgages ,
NYDFS ,
Offshore Funds ,
Panama Papers ,
Popular ,
Real Estate Market ,
Suspicious Activity Reports (SARs) ,
Tax Evasion
The New York State Department of Financial Services (DFS) has announced that it has entered into a consent order with an online payday loan lead generator and its chief executive officer (CEO) (collectively, respondents) to...more
3/25/2016
/ Consent Order ,
Consumer Financial Products ,
Corporate Counsel ,
Data Security ,
Notification Requirements ,
NYDFS ,
Online Marketplace Lending ,
Payday Loans ,
Personally Identifiable Information ,
Popular ,
Usury
New York City can regulate the conduct of attorneys engaged in debt collection, the U.S. Court of Appeals for the Second Circuit has ruled. In Eric M. Berman, P.C. and Lacy Katzen, LLP v. City of New York, et al., the...more