News & Analysis as of

Bank Secrecy Act › Commodities Futures Trading Commission › Department of Justice (DOJ)

The Bank Secrecy Act is a United States federal statute enacted in 1970 to detect and prevent money laundering within financial institutions. The BSA requires financial institutions to keep records and provide... more +
The Bank Secrecy Act is a United States federal statute enacted in 1970 to detect and prevent money laundering within financial institutions. The BSA requires financial institutions to keep records and provide documentation to authorities for single transactions of more than $10,000 and report other suspicious account activity that could signify money laundering or other financial crimes. less -
Holland & Hart LLP

Key Compliance Takeaways for Companies from the DOJ's New Corporate Whistleblower Program

Holland & Hart LLP on

On August 1, 2024, the U.S. Department of Justice (“DOJ”) announced its new “Corporate Whistleblower Awards Pilot Program” (“DOJ Program”), a three-year initiative managed by DOJ’s Money Laundering and Asset Recovery Section....more

The Volkov Law Group

DOJ and CFTC Bring Charges Against Crypto Exchange KuCoin for AML and KYC Failures

The Volkov Law Group on

On March 26, 2024, the U.S. Department of Justice (“DOJ”) unsealed an indictment against prominent cryptocurrency exchange KuCoin and two of its founders, Chun Gan and Ke Tang.  The DOJ charged the exchange and its founders...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - February 2024

Davis Wright Tremaine LLP on

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

The Volkov Law Group

Episode 302 -- Matt Stankiewicz on DOJ's Massive Criminal Settlement with Cryptocurrency Exchange Binance and its CEO Changpeng...

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On November 21, 2023, The U.S. Department of Justice (“DOJ”) announced settlement agreements with Binance Holdings Limited (“Binance”), the world’s largest cryptocurrency exchange, and Changpeng Zhao (affectionally known as...more

Ballard Spahr LLP

Binance Settles Criminal and Civil AML and Sanctions Enforcement Actions for Multiple Billions – While its Founder, Owner and...

Ballard Spahr LLP on

As the world now knows, Binance Holdings Limited, doing business as Binance.com (“Binance” or the “Company”), has entered into a plea agreement with the U.S. Department of Justice (“DOJ”)....more

Paul Hastings LLP

Top PHive Crypto Enforcement Notes: January Edition

Paul Hastings LLP on

Happy New Year! While the holidays hopefully provided a chance to rest and recharge, things have not slowed down in the world of digital asset enforcement. We see a growing dedication of resources by government law...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cryptocurrency Regulation and Enforcement at the US Federal and State Levels

Skadden, Arps, Slate, Meagher & Flom LLP on

In recent months, the increased focus on cryptocurrency regulation and enforcement at both the federal and state levels demonstrates the digital currency’s place as an established component of the financial landscape. At the...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - August 2021

Skadden, Arps, Slate, Meagher & Flom LLP on

This issue discusses a variety of legal, regulatory and enforcement developments in the digital asset space in the U.S. and Europe, including expanded reporting requirements for broadly defined cryptocurrency “brokers,” a...more

King & Spalding

FinCEN’s New Whistleblower Program: Global Implications

King & Spalding on

Modernizing FinCEN’s Whistleblower Program Under the Anti-Money Laundering Act of 2020 - INTRODUCTION - Reporting on multiple international money-laundering schemes last year brought public focus to the anti-money...more

Kelley Drye & Warren LLP

DOJ Activity on Cryptocurrency: A Six-Month Review

Kelley Drye & Warren LLP on

The U.S. Department of Justice (“DOJ”) has focused on cryptocurrency in the last six months, while consumer interest hits all-time highs. The cryptocurrency market is not unlike the cannabis market from several years...more

King & Spalding

Tokyo Dispute Resolution & Crisis Management Newsletter - February 2021 - U.S. & Americas Enforcement Review 2020

King & Spalding on

As 2020 drew to a close, enforcement authorities throughout the United States and the Americas continued to investigate fraud, corruption, and other misconduct across the region. In this newsletter, we highlight some...more

WilmerHale

CFTC 2020 Enforcement and Regulatory Developments and a Look Forward

WilmerHale on

2020 saw continuity in CFTC leadership, programs, and direction from 2019. Overall, the Commission enjoyed an unusually heavy rulemaking calendar and continued the direction of its enforcement program from 2019. On the...more

Buchalter

Treasury’s New Bank Secrecy Act Whistleblower Program

Buchalter on

In perhaps the last major legislative action under this presidential administration, on New Year’s Day 2021, Congress passed—over President Trump’s veto—what could be the most significant anti-money laundering (AML) statute...more

King & Spalding

Q4 2020: Latin America Enforcement Review

King & Spalding on

As 2020 drew to a close, enforcement authorities throughout the United States and the Americas continued to investigate fraud, corruption, and other misconduct across the region. Below, we highlight some developments from...more

Manatt, Phelps & Phillips, LLP

Security Implications of Extraterritorial Application of U.S. Law on Cryptocurrency Markets

Manatt, Phelps & Phillips, LLP on

Recent action by the U.S. government reminds us that engaging in the cryptocurrency markets continues to present counterparty risk in the context of with whom you are doing business. Whether a company is buying cryptocurrency...more

Ballard Spahr LLP

CFTC and DOJ Charge BitMEX and Executives With Illegally Trading in Digital Assets and Ignoring BSA/AML Requirements

Ballard Spahr LLP on

Incorporating in the Seychelles but Allegedly Operating in the U.S. Spells Trouble for Company and its Founders - The Bitcoin Mercantile Exchange, or BitMEX, is a large and well-known online trading platform dealing in...more

Pillsbury Winthrop Shaw Pittman LLP

BitMEX Faces Civil and Criminal Charges over Alleged CEA and AML Violations

Pillsbury Winthrop Shaw Pittman LLP on

BitMEX, a Seychelles-based centralized exchange for trading derivatives on bitcoin, ether and litecoin, and certain of its executives have been charged with a number of violations under the U.S. Commodity Exchange Act (CEA),...more

Sheppard Mullin Richter & Hampton LLP

CFTC Throws its Hat into the Corporate Compliance Arena

Sheppard Mullin Richter & Hampton LLP on

On September 10, 2020, the Commodities Futures Trading Commission (CFTC) issued the latest in a series of circulars regarding corporate compliance released this summer by government agencies. In June, the Criminal Division of...more

Manatt, Phelps & Phillips, LLP

Corporate Investigations & White Collar Defense - May 2015

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It’s an Absolute Privilege to Meet You! Texas Supreme Court Rules That Internal Investigation Report Provided by Shell Oil to DOJ Enjoys “Absolute Privilege” - Why it matters: On May 15, 2015, the Texas Supreme Court...more

Katten Muchin Rosenman LLP

Recent Key Bitcoin and Virtual Currency Regulatory and Law Enforcement Developments

Katten Muchin Rosenman LLP on

In recent months, US federal and state regulators have continued to focus on Bitcoin and the adoption of a regulatory framework for it and other "virtual currencies," as well as the enforcement of existing securities laws to...more

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