U.S. Developments -
Members of Congress Request SEC Clarity On Digital Securities Custody -
On December 9, a bipartisan group of representatives penned a letter to SEC Chairman Jay Clayton regarding the issue of...more
12/16/2020
/ Anti-Money Laundering ,
Blockchain ,
CFTC ,
Department of Justice (DOJ) ,
Digital Assets ,
Digital Currency ,
Digital Securities ,
Financial Industry Regulatory Authority (FINRA) ,
France ,
G7 ,
Popular ,
Securities and Exchange Commission (SEC) ,
Tax Fraud ,
Tax Revenues ,
Thailand ,
Virtual Currency
On March 10, the New York State Department of Financial Services (DFS) issued guidance and a request for assurance to financial institutions engaged in virtual currency business activity in New York. The request requires...more
The Ethereum Classic blockchain was the victim of a 51% attack (often called a majority or Sybil attack) on January 5, 2019 that reorganized portions of the blockchain and allowed the attackers to double-spend 219,500 ETC...more
2/22/2019
/ ASIC ,
Bitcoin ,
Bitcoin Mining ,
Blockchain ,
CFTC ,
Commodity Exchange Act (CEA) ,
Computer Fraud and Abuse Act (CFAA) ,
Cryptocurrency ,
Cyber Attacks ,
Cybersecurity ,
Distributed Ledger Technology (DLT) ,
Ethereum ,
Popular ,
Private Right of Action ,
Virtual Currency
U.S. Developments -
Flood of State Virtual Currency Legislation -
Since the start of the new year there have been roughly nine virtual currency bills introduced or passed in four different states. Overall, the bills...more
1/24/2019
/ Blockchain ,
Cryptocurrency ,
Distributed Ledger Technology (DLT) ,
Financial Instruments ,
Government Shutdown ,
Initial Coin Offering (ICOs) ,
Initial Public Offering (IPO) ,
Money Transmitter ,
New Legislation ,
Popular ,
Regulatory Oversight ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
State and Local Government ,
Token Sales ,
Virtual Currency
U.S. Developments -
SEC Remarks on International Virtual Currency Enforcement -
On December 5, 2018, Steven Peikin, Co-Director of the Division of Enforcement at the U.S. Securities and Exchange Commission (“SEC”), gave a...more
12/13/2018
/ Anti-Money Laundering ,
Blockchain ,
BSA/AML ,
Corporate Counsel ,
Cryptocurrency ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
EU ,
FATF ,
FinCEN ,
FINMA ,
G20 ,
Initial Coin Offering (ICOs) ,
NYDFS ,
Popular ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Switzerland ,
The Clayton Act ,
Token Sales ,
Unregistered Securities ,
Virtual Currency
New Appointments to the SEC and CFTC Have Their Eyes on Virtual Currency -
The U.S. Senate voted this week to confirm Dawn Stump (R) and Dan Berkovitz (D) as commissioners of the Commodity Futures Trading Commission...more
9/12/2018
/ Bitcoin ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Financial Instruments ,
Financial Markets ,
Financial Services Industry ,
Global Market ,
Popular ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Virtual Currency
On August 7, Judge Richard Seeborg of the U.S. District Court for the Northern District of California denied in part a motion to dismiss (the “Order”) sought by the defendants in In Re Tezos Securities Litigation (the “Tezos...more
8/31/2018
/ Blockchain ,
Browsewrap Agreement ,
Clickwrap Agreements ,
Contract Terms ,
Extraterritoriality Rules ,
Forum Selection ,
Motion to Dismiss ,
Personal Jurisdiction ,
Popular ,
Securities Exchange Act ,
Securities Litigation ,
Token Sales ,
Virtual Currency
On July 18, 2018, the Financial Action Task Force (“FATF”), published its report to the July 2018 G20 Finance Ministers and Central Bank Governors’ meeting. The report sets out FATF’s ongoing work to fight money laundering...more
7/26/2018
/ Anti-Money Laundering ,
Bank Secrecy Act ,
EU ,
FATF ,
FinCEN ,
G20 ,
Money Laundering ,
Popular ,
Regulatory Agenda ,
Regulatory Oversight ,
Token Sales ,
Virtual Currency