News & Analysis as of May 18, 2025

Cryptocurrency

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

Weekly Blockchain Blog - March 2025 #4

BakerHostetler on 3/24/2025

Digital Asset Companies Announce Strategic Acquisitions - According to a recent press release, a major U.S. cryptocurrency exchange has entered into an agreement to acquire NinjaTrader, a U.S. retail futures trading...more

FINCast Ep. 40 – 21st Century Financial Warfare: Technology, Economy, & National Security

K2 Integrity on 3/21/2025

With global economic alliances shifting and new threats emerging, will the U.S. maintain its dominance in an increasingly complex world? From cryptocurrency to chips to cyberterrorist threats, the battle for global dominance...more

Daily Financial Regulation Update -- Friday January 17, 2025

Paul Hastings LLP on 1/17/2025

January 16, 2025- The U.S. Committee on Banking, Housing and Urban Affairs held a hearing on the nomination of Mr. Eric Scott Turner, to be Secretary, U.S. Department of Housing and Urban Development....more

You’ve been hit with ransomware. Think twice before you pay.

Constangy, Brooks, Smith & Prophete, LLP on 12/10/2024

You've been hit by a ransomware attack, and a cybercriminal group is demanding a cryptocurrency payment in exchange for your data's safe return. Should you pay? Deciding whether to pay a ransom is an internal business...more

Banking and Consumer Regulatory Digest - August 2023

Davis Wright Tremaine LLP on 8/29/2023

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

Treasury official highlights fintech, crypto assets, and cloud services challenges

Orrick, Herrington & Sutcliffe LLP on 2/22/2023

On February 15, Treasury Assistant Secretary for Financial Institutions Graham Steele delivered remarks before the Exchequer Club of Washington, D.C., during which he discussed the U.S. Treasury Department’s financial...more

The North Korean Crypto Threat

K2 Integrity on 10/17/2022

Executive Summary - The North Korean threat to the crypto ecosystem is the highest form of immediate risk to the crypto-economy driven by a regime that seeks to profit from its misuse to reinforce its regime and fuel all its...more

Treasury to Companies: Time to Take Ransomware Reporting Seriously

Akin Gump Strauss Hauer & Feld LLP on 12/14/2021

On September 21, 2021, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) published an updated sanctions advisory, providing guidance to companies on sanctions compliance obligations related to ransomware...more

Treasury Publishes U.S. Sanctions Policy Review and Framework for Future Action

Akin Gump Strauss Hauer & Feld LLP on 11/1/2021

On October 18, 2021, the U.S. Treasury Department released a long awaited report on its first of its kind “top to bottom” review of U.S. economic and financial sanctions. The report does not make or recommend any immediate or...more

US Department of the Treasury Publishes Sanctions Review Results

Skadden, Arps, Slate, Meagher & Flom LLP on 10/27/2021

On October 18, 2021, the U.S. Department of the Treasury released the results of its broad review of economic and financial sanctions. The review, initiated by the Biden administration, included discussions with Congress,...more

OFAC Puts Virtual Currency Industry On Notice

King & Spalding on 10/26/2021

Guidance Demonstrates OFAC’s Expectations for Sanctions Compliance by Cryptocurrency Industry - On October 15, 2021, the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of the Treasury published Sanctions...more

Do You Have a Risk-Based Sanctions Compliance Program?: In the Event of a Ransomware Attack, OFAC Wants to Know

Sheppard Mullin Richter & Hampton LLP on 10/5/2021

In the wake of increased ransomware attacks over the course of the last several months, the US Department of Treasury’s Office of Foreign Assets Control (OFAC) has updated a guidance it released last year on potential...more

OFAC Makes Waves in Fight Against Ransomware, but Practical Effects Unclear

Davis Wright Tremaine LLP on 10/4/2021

On September 21, 2021, the U.S. Department of the Treasury announced two major actions by the Office of Foreign Asset Control (OFAC) to combat ransomware: the release of OFAC's Updated Advisory on Potential Sanctions Risks...more

OFAC Releases Updated Ransomware Advisory and Announces First Designation of Cryptocurrency Exchange

K2 Integrity on 9/29/2021

On 21 September 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an updated advisory that highlights the sanctions risks associated with making ransomware payments. OFAC reiterated...more

Financial Services Report - Summer 2021

Morrison & Foerster LLP on 6/9/2021

As spring turns to summer, climate change is on our minds. A new day, a new story about how financial institutions are addressing climate-related risks. In the past few months, six major banks—Bank of America, JPMorgan...more

Virtual Currency as a Threat to National Security?

King & Spalding on 3/12/2020

In the past, sanctioned jurisdictions like Venezuela have embraced virtual currency as a way to bypass channels that involve U.S. dollars, blunting the impact of U.S. economic sanctions policies aimed at isolating those...more

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

Akin Gump Strauss Hauer & Feld LLP on 1/11/2019

• 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

Blockchain Uses in Transportation

Holland & Knight LLP on 5/1/2018

Blockchain technology is most well-known for its use with cryptocurrencies, however, it has wider potential applications in other sectors beyond that of banking and financial services. It is being evaluated for uses in the...more

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Cybersecurity › U.S. Treasury › Cryptocurrency

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