Last week, the United States Attorney’s Office for the Southern District of New York unsealed an indictment against global cryptocurrency exchange KuCoin and two of its founders, Chun Gan and Ke Tang, for allegedly conspiring...more
4/5/2024
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Bitcoin ,
BSA/AML ,
CFTC ,
Commodity Exchange Act (CEA) ,
Crypto Exchanges ,
Cryptocurrency ,
Enforcement Actions ,
Financial Services Industry ,
Futures Commission Merchants (FCMs) ,
Know Your Customers ,
Money Laundering ,
Money Transmitter ,
Popular ,
Regulatory Violations ,
Suspicious Activity Reports (SARs)
The Department of Justice (“DOJ”) has been very active in the Bank Secrecy Act (“BSA”) / Anti-Money Laundering (“AML”) space, as reflected by a recent series of individual prosecutions and corporate non-prosecution agreements...more
2/5/2024
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Criminal Investigations ,
Criminal Prosecution ,
Cryptocurrency ,
Currency Transaction Reports (CTR) ,
Department of Justice (DOJ) ,
Due Diligence ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
Financial Transactions ,
FinCEN ,
Money Laundering ,
Money Transmitter ,
Non-Prosecution Agreements ,
Suspicious Activity Reports (SARs)
Summary -
The SEC’s pursuit of the crypto industry continues with its second-ever settlement of a non-fungible token (NFT) enforcement action. The SEC settled with Stoner Cats 2 LLC (SC2), which sought to finance an...more
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
Summary -
The past week was a busy one in the cryptocurrency sphere: The Financial Accounting Standards Board (FASB) proposed new standards for crypto assets, and the SEC released an alert urging investors to remain...more