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Cyber Crimes Cryptocurrency Enforcement Actions

Ballard Spahr LLP

Navigating FinCEN’s Actions on Huione Group: Strengthening Defenses Against Money Laundering

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On May 1, 2025, the Financial Crimes Enforcement Network (FinCEN) released a Notice of Proposed Rulemaking (NPRM) regarding the Huione Group, a foreign financial institution located in Cambodia. This proposal, enacted under...more

BakerHostetler

Weekly Blockchain Blog - September 2024 #4

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Payments Firms Launch Crypto Products, New Crypto Adoption Data Published - According to a recent press release, a well-known U.S. payments and financial technology company announced that it will allow its United States...more

Morrison & Foerster LLP

Top 5 SEC Developments (November 2023)

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Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: • The SEC’s announcement of its Fiscal Year 2023 enforcement...more

Bracewell LLP

DOJ Spotlights Voluntary Self Disclosure in M&A as it Adapts to New National Security Threats

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The past few months have seen numerous high-profile enforcement actions highlighting an increasing trend, what Deputy Attorney General Lisa Monaco called “the biggest shift in corporate criminal enforcement that I’ve seen...more

Foley Hoag LLP - White Collar Law &...

2023 Trends in Criminal Tax Enforcement

This is the second part in our 2023 series examining important trends in white collar law and investigations. Up next: crypto enforcement. The days of decreased IRS enforcement activity may be coming to a close. Although...more

King & Spalding

State Attorneys General Poised to Elevate Regulatory Scrutiny of Digital Asset Businesses

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The Attorney General Alliance (“AGA”) recently issued a collaborative White Paper that signals heightened scrutiny of digital asset businesses by state Attorneys General in coming years. Recognizing that it is “no longer...more

BakerHostetler

Financial and Crypto Firms Explore Integration; NFT Market Expands; FATF/Basel Publish Crypto Guidance; DOJ/CFTC Bring Crypto...

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Financial Firm Launches Crypto Group, MakerDAO Votes to Integrate with Bank - A major multinational financial institution recently “announced the formation of its Digital Assets and Financial Markets group.” According to...more

Vinson & Elkins LLP

White Collar Enforcement Gains Momentum as COVID Restrictions Ease: What You Need to Know

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Enforcement of corporate crimes, which languished for two years during the COVID-19 pandemic, will grow more vigorous this year and may be accompanied by significantly tougher penalties, partners with Vinson & Elkins’ (“V&E”)...more

The Volkov Law Group

OFAC Focuses on Cybercrime by Sanctioning the Hydra Darknet Market and GARANTEX Cryptocurrency Exchange

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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

Sheppard Mullin Richter & Hampton LLP

OFAC Enforcement Impacts NFTs: As Crypto Enforcement Ramps Up to Combat Ransomware, Robust Compliance is Key

The Treasury Department’s Office of Foreign Assets Control (OFAC) took action last Monday, November 8, 2021, and sanctioned a Latvia-based exchange, Chatex, its associated support network, and two ransomware operators for...more

Jackson Lewis P.C.

DOJ Announces Cybersecurity Enforcement Initiative Targeting Federal Contractors

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Last week, the Department of Justice (“DOJ”) announced the launch of its Civil Cyber-Fraud Initiative (“the Initiative”) aimed at combating “new and emerging cyber threats to the security of sensitive information and critical...more

BakerHostetler

Crypto Payment Options Announced, Federal Reserve Official Addresses Bitcoin, US and Foreign Actions Target Crypto Crimes, DeFi...

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Crypto Payment Options Announced, Federal Reserve Official Addresses Bitcoin - Late last week, BitPay, a leading provider of cryptocurrency payment services, announced that U.S. users of its prepaid debit card, which allows...more

Eversheds Sutherland (US) LLP

US Cybersecurity and Data Privacy review and update: Looking back on our 2020 articles and planning ahead for 2021

It was a tumultuous year for privacy and cybersecurity, and further uncertainty is all but guaranteed. The key to navigating this volatility, as 2020 proved, is to develop and maintain a proactive, agile and holistic data...more

Ballard Spahr LLP

IRS CI Highlights International Efforts to Tackle Cryptocurrency Abuse, Money Laundering and Tax Evasion

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ABA Tax Fraud Panel to Discuss IRS CI and Crypto Criminals - The Internal Revenue Service – Criminal Investigation (IRS CI) has made it clear that it is focusing on the abuse of digital currencies to further tax evasion,...more

Akin Gump Strauss Hauer & Feld LLP

OFAC Adds Iranian Bitcoin Exchangers’ Names and Wallet Addresses to SDN List, Ushers in “New Approach” to Sanctions Enforcement

• On November 28, 2018, OFAC designated two Iran-based individuals who helped exchange cryptocurrency (bitcoin) into fiat currency on behalf of alleged ransomware perpetrators who targeted U.S. businesses and municipal...more

Sheppard Mullin Richter & Hampton LLP

SEC Enforcement’s Annual Report Prioritizes Retail Investors, Cryptocurrency, Cybercrime, and Individual Accountability

The Enforcement Division of the United States Securities and Exchange Commission (“SEC”) recently released its annual enforcement report (“Report”) for fiscal year 2018. The Report reflects an increased focus on retail...more

Burr & Forman

SEC’s First Action Against Unregistered Crypto “Exchange”

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On November 8, the SEC filed its first settled enforcement action against cryptocurrency trading platform for operating as an unregistered exchange trading securities, in violation of the Securities Exchange Act of 1934....more

Burr & Forman

SEC Sues Blockvest for False Claims of SEC Endorsement of ICO

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On October 3, 2018, the Securities and Exchange Commission sued Blockvest LLC and its founder Reginald Buddy Ringgold, III for falsely claiming that its initial coin offering had been approved by the SEC. ...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - May 2018 #3

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CYBERSECURITY - Cyber Fraud Cost $1.4 Billion in 201 - The Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3) recently released its yearly internet crime report, which states that over 300,000...more

Fenwick & West LLP

The SEC and Plaintiffs’ Class Action Attorneys Are Targeting Initial Coin Offerings

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Issuers and other professionals participating in Initial Coin Offerings — widely known as ICOs — are facing the increasing threat of both U.S. Securities Exchange Commission enforcement actions and private class action suits...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - October 2017 #2

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FBI Issues Flash Alert on Apache Struts Vulnerability - The Apache Struts vulnerability has been mentioned frequently in the media over the past month, as it is believed to have been involved in one of the largest and most...more

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