Prosecution of executives for insider trading is not necessarily headline news – except when the prosecution involves the SEC wading deep into the waters of defining crypto as a security enroute to securing two guilty pleas. ...more
With 2022 now fading into the background and 2023 underway, a review of some of the 2022 highlights in cryptocurrency provides an opportunity to look at the developments of the past year with a fresh perspective – and to...more
2/7/2023
/ Biden Administration ,
Blockchain ,
Coinbase ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement ,
Executive Orders ,
FinCEN ,
New Regulations ,
NYDFS ,
Office of Foreign Assets Control (OFAC) ,
Securities and Exchange Commission (SEC)
New York’s Department of Financial Services (“DFS”) recently announced a $100 million settlement with Coinbase, Inc., one of the world’s largest cryptocurrency exchanges, for Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”)...more
1/10/2023
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Coinbase ,
Compliance ,
Crypto Exchanges ,
Cryptocurrency ,
Cybersecurity ,
Data Breach ,
Digital Assets ,
Due Diligence ,
Financial Institutions ,
New York ,
NYDFS ,
Reporting Requirements ,
Settlement ,
Suspicious Activity Reports (SARs) ,
Transaction Monitoring
On November 15, 2022, the CEO of FTX and various alleged celebrity endorsers were sued in Florida federal court by Edwin Garrison, an FTX investor. In the complaint, Garrison alleges that FTX engaged in the unlawful sale of a...more
The recent OpenSea insider trading case emphasizes the need for businesses in the digital assets industry to stay abreast of the fast-changing legal landscape surrounding their industry, and also emphasizes that new digital...more
California Governor Gavin Newsom vetoed the Digital Financial Assets Law requiring companies offering services that involve investing, lending, or trading cryptocurrencies to register with the state’s Department of Financial...more
California is one step closer to joining New York in requiring cryptocurrency licenses.
Governor Gavin Newsom has until September 30 to sign or veto the Digital Financial Assets Law, which would go into effect in 2025. The...more
If your staff member wants his or her paycheck in cryptocurrency, should you – as an employer keeping up with the times — accommodate the request?
You don’t have to work in Silicon Valley or play for the NFL to field this...more
7/29/2022
/ Bitcoin ,
Blockchain ,
CFTC ,
Compensation ,
Cryptocurrency ,
Department of Labor (DOL) ,
Digital Assets ,
Estate Planning ,
Ethereum ,
Fair Labor Standards Act (FLSA) ,
New York ,
Payment Systems ,
Popular ,
Securities and Exchange Commission (SEC) ,
Wages
The newly signed the bi-partisan Infrastructure Investment and Jobs Act (“IIJA”) includes new regulations aimed directly at cryptocurrency oversight. Unlike more traditional asset classes, cryptocurrencies are not governed...more