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Digital Assets Criminal Prosecution

BakerHostetler

Weekly Blockchain Blog - September 2024 #2

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According to recent reports, two U.S. multinational financial technology companies have integrated Ethereum Name Service (ENS), a decentralized naming system built on the Ethereum blockchain, into their payment platforms....more

BakerHostetler

Weekly Blockchain Blog - June 2024 #4

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Crypto Companies Announce Licenses, Acquisitions, New Products - According to recent reports, a major Chicago-based digital asset trading desk recently obtained a BitLicense from the New York Department of Financial...more

The Volkov Law Group

The Power and Reward of Cooperation: Binance Founder CZ Sentenced to 4 Months Imprisonment

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Defendants often face a tough choice — challenge the government’s evidence and if convicted, face significant jail time.  On the flip side, defendants who plead guilty and cooperate can earn significant sentencing reductions,...more

Polsinelli

Blockchain+ Bi-Weekly - April 2024 #2

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The focus in Web3 law the past few weeks has been on jurisdictional issues when litigating matters involving borderless digital asset transactions. This is expected to be an ongoing issue, as courts work through these...more

Polsinelli

Blockchain+ Bi-Weekly - April 2024

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The biggest legal news of the past two weeks was the Coinbase loss on two of three categories of claims at the Judgment on the Pleadings stage of litigation against the SEC. While it is rare to win at such an early stage in...more

BakerHostetler

No Further Warnings - Prosecutors Bring First Pure Legal Digital Asset Tax Indictment; More Criminal Cases to Come

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After years of explicitly warning taxpayers that failing to report or underreporting income from transactions involving digital assets would lead to criminal charges, federal prosecutors are now beginning to follow through on...more

Polsinelli

Blockchain+ Bi-Weekly - December 2023

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The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more

Polsinelli

Blockchain+ Bi-Weekly - September 2023

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The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more

The Volkov Law Group

Episode 286 -- Matt Stankiewicz on the Ripple Decision and Celsius CEO Indictment

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Matt Stankiewicz, Partner at The Volkov Law Group, rejoins the podcast to review the recent Ripple decision by District Judge Torres at the Southern District of New York and the recent indictment of Celsius Networks' CEO. On...more

Ballard Spahr LLP

Crypto Couple Plead Guilty to Money Laundering Conspiracy

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In February 2022, we blogged on the seizure of a record $3.6 billion in stolen Bitcoin (“BTC”) and an accompanying criminal complaint, charging husband and wife Ilya “Dutch” Lichtenstein and Heather “Razzlekhan” Morgan with...more

Skadden, Arps, Slate, Meagher & Flom LLP

DOJ Relies on Traditional Statutes To Charge Defendants in Cryptoasset Fraud Cases

Two recent indictments highlight the Department of Justice’s (DOJ’s) continuing use of the traditional wire fraud, money laundering and identity theft statutes to pursue fraud involving digital assets, indicating that law...more

BakerHostetler

Jury Finds Former NFT Marketplace Manager Guilty of 'Insider Trading' Wire Fraud Scheme and Money Laundering

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On May 3, 2023, a jury found Nathaniel Chastain, a former manager of OpenSea (a major NFT marketplace), guilty of wire fraud and money laundering in connection with his attempts to conceal his use of confidential business...more

BakerHostetler

New Crypto Payment and Web3 Products Launch; UK Seeks Input on DeFi Taxation; OFAC Fines Crypto Exchange; SEC, DOJ, CFTC Continue...

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Multiple Financial Services Firms Announce New Crypto Products - A major U.S. financial services firm recently launched its Crypto Credential product, “a set of common standards and infrastructure that will help verify...more

Orrick, Herrington & Sutcliffe LLP

U.S., German law enforcement disable darknet crypto mixer

On March 15, U.S. law enforcement, along with German criminal authorities, disabled a darknet cryptocurrency “mixing” service used to allegedly launder more than $3 billion in cryptocurrency underlying ransomware, darknet...more

BakerHostetler

Australia and BIS Address CBDCs; OCC, PCAOB and U.S. Senators Address Crypto Risks; SEC, DOJ and USSS Continue Crypto Enforcement...

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Reserve Bank of Australia and BIS Commence Efforts to Advance CBDCs - In a recent announcement, the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre (DFCRC) released details on an ongoing...more

Perkins Coie

DOJ Brings First Criminal Charges Stemming From Use of Rule 10b5-1 Trading Plan

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On March 1, 2023, the U.S. Department of Justice (DOJ) unsealed an indictment against the CEO of a publicly traded healthcare company (the Executive) relating to charges of an insider trading scheme. The indictment represents...more

Cadwalader, Wickersham & Taft LLP

CFTC Enforcement − Aiding and Abetting Liability

Churchill is credited with saying “Never let a good crisis go to waste” at the end of WWII in reference to lessons learned in rebuilding the post-war world. The rolling collapse in crypto and digital assets’ markets, and...more

Carlton Fields

Digital Assets: An Expanding Arena for Insider Trading and Market Manipulation

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Both the SEC and DOJ are creatively and aggressively attacking the use of digital assets as a medium for insider trading or market manipulation. While the jurisdictional battle over digital assets still rages between the SEC...more

Polsinelli

“Now Yous Can’t Leave”: SEC Finds Itself in Formidable Fight Over Attempt to Assert Regulatory Domain over Secondary Sales of...

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In July of 2022, the United States Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”) each alleged insider trading violations against a former Coinbase employee Ishan Wahi (“Ishan”), his brother...more

BakerHostetler

DeFi, Stablecoin Products Launch; FASB to Allow Fair Value for Crypto Accounting; SEC Addresses Crypto IRAs; DOJ Enforcement...

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DeFi, Stablecoin Products Launch; Bitcoin Network Spikes Due to NFTs - According to reports, a new decentralized finance (DeFi) protocol recently launched that allows users to deposit the stablecoins USDC or DAI in a...more

The Volkov Law Group

Bitzlato Cryptocurrency Exchange Founder Charged with Processing $700 Million in Illicit Funds

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On Wednesday, January 18, 2013, the U.S. Department of Justice (“DOJ”) unsealed a criminal complaint in the Eastern District of New York charging Russian-national Anatoly Legkodymov, a senior executive at Bitzlato Ltd....more

BakerHostetler

Data Published on Crypto Exchange Volume, NFT Royalties, Crypto Crime; Crypto Adoption Continues; DOJ and CFTC Bring Multiple...

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New Data Published on 2022 Crypto Exchange Trading Volume, NFT Royalties - According to recent reports, Binance, currently the world’s largest cryptocurrency exchange by trading volume, controlled 92 percent of global...more

BakerHostetler

Crypto Payment Products and NFT Initiatives Launch; Crypto Market Data Published; DOJ Brings Charges Alleging Cryptocurrency Ponzi...

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New Crypto Payment Products Launch, Reports Publish Crypto Market Data A recent press release announced that MetaMask, the popular Ethereum (ETH) Network crypto wallet provider, will integrate its self-custodial wallets...more

Dorsey & Whitney LLP

FTX - Billions of Dollars to a Firm with No Controls

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Things change, at least sometimes. Take Crypto assets. They began as a way to “get off the grid.” Over time some came on to the grid as their popularity increased. Others stayed off....more

Foley & Lardner LLP

2022 NFT Litigation Roundup

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The emergence of non-fungible tokens (NFTs) has spawned novel legal and regulatory considerations, spanning intellectual property rights, the potential classification of NFTs as securities, the recovery of assets held on...more

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