Continuing with both its crackdown on cybercriminals and illicit digital marketplaces, along with its continued economic pressure on the Russian Federation, OFAC has sanctioned two entities that fit both criteria. On April...more
4/13/2022
/ Cryptocurrency ,
Currency Exchange ,
Cyber Crimes ,
Darknet ,
Economic Sanctions ,
Enforcement Actions ,
Military Conflict ,
Money Services Business ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Ransomware ,
Russia ,
Ukraine ,
Virtual Currency
In early October, U.S. Department of Justice (“DOJ”) Deputy Attorney General Lisa Monaco announced the creation of the National Cryptocurrency Enforcement Team (“NCET”). The NCET will handle the Department’s investigations...more
11/12/2021
/ Anti-Corruption ,
Anti-Money Laundering ,
Bitcoin ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Currency ,
Enforcement Priorities ,
Enforcement Strike Teams ,
Financial Crimes ,
Financial Instruments ,
Financial Markets ,
Government Investigations ,
Policy Statement ,
Regulatory Oversight ,
Virtual Currency ,
White Collar Crimes
In early October, OFAC released a guidance brochure on sanctions compliance, specifically tailored for the cryptocurrency and virtual assets industry. For seasoned compliance veterans, it ends up reading like a refresher...more
On Friday March 12, Bloomberg News reported that the Commodity Futures Trading Commission (“CFTC”) has opened an inquiry into Binance Holdings Ltd. (“Binance”) to investigate allegations that the exchange allowed US citizens...more
3/16/2021
/ Bitcoin ,
CFTC ,
Crypto Exchanges ,
Cryptocurrency ,
Derivatives ,
Digital Currency ,
Enforcement Actions ,
Investigations ,
Know Your Customers ,
Popular ,
Trading Platforms ,
Virtual Currency
In late February, the New York Attorney General’s office (“NYAG”) settled with Bitfinex and Tether stemming from charges relating to financial mismanagement. The NYAG alleged that Bitfinex and Tether attempted to cover up...more
3/15/2021
/ Banking Sector ,
Bitcoin ,
Crypto Exchanges ,
Cryptocurrency ,
Digital Currency ,
Enforcement Actions ,
Financial Transactions ,
Mismanagement ,
Settlement Agreements ,
Stablecoins ,
Virtual Currency
DOJ’s Cyber Digital Task Force’s report, “Cryptocurrency: An Enforcement Framework,” provides a comprehensive on the growing partnerships between DOJ and other offices within the executive branch....more
11/3/2020
/ BitMEX ,
CFTC ,
Compliance ,
Corruption ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Financial Crimes ,
Financial Transactions ,
FinCEN ,
Foreign Corrupt Practices Act (FCPA) ,
Initial Coin Offering (ICOs) ,
IRS ,
Know Your Customers ,
Money Laundering ,
OCC ,
Popular ,
Securities and Exchange Commission (SEC) ,
Virtual Currency ,
White Collar Crimes
Earlier this month, the Department of Justice (“DOJ”), through its Cyber Digital Task Force (hereinafter the “Task Force”), published its 83-page crypto guidance report titled “Cryptocurrency: An Enforcement Framework.”...more
11/3/2020
/ CFTC ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Financial Action Task Force ,
Financial Crimes ,
FinCEN ,
IRS ,
Mail Fraud ,
Money Laundering ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Virtual Currency ,
Wire Fraud
You’ve heard this before, but it still holds true – cryptocurrency regulations are coming. Everyone knows they’re inevitable, and there has been some trepidation amongst investors that regulations will disrupt innovation and...more
3/15/2019
/ Bitcoin ,
Compliance ,
Crypto Exchanges ,
Cryptocurrency ,
Digital Currency ,
Financial Markets ,
Hackers ,
Initial Coin Offering (ICOs) ,
Investment Opportunities ,
Money Laundering ,
Money Transmitter ,
Ponzi Scheme ,
Regulatory Standards ,
Token Sales ,
Virtual Currency
As we have continued with our cryptocurrency posts, we are often asked questions about the foundational elements of the technology behind cryptocurrency. This is not surprising really, it’s a new technology that’s still...more
A few days ago, Congress released its 2018 Joint Economic Report. As many of you know, the Joint Economic Committee prepares this report as a national assessment of the country’s economic status. The report often assesses...more
3/22/2018
/ Bitcoin ,
Blockchain ,
Congressional Reports ,
Cryptocurrency ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Entrepreneurs ,
Initial Coin Offering (ICOs) ,
Initial Public Offering (IPO) ,
Innovation ,
Popular ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Virtual Currency
The world is abuzz about cryptocurrency. By this point, most everyone has heard of Bitcoin, and may even know about some of the other big players in the world such as Ethereum, Ripple, Litecoin, and countless others. The...more
3/8/2018
/ Bitcoin ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Initial Coin Offering (ICOs) ,
Securities and Exchange Commission (SEC) ,
Technology Sector ,
Token Sales ,
Virtual Currency