News & Analysis as of

Digital Currency Regulatory Standards

BakerHostetler

Weekly Blockchain Blog - November 2024 #3

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Crypto Exchanges and Stablecoin Issuers Announce Multiple New Products - Multiple crypto sector companies have recently announced new products. In a press release, LayerZero, “an omnichain interoperability protocol that...more

Nelson Mullins Riley & Scarborough LLP

Regulators Focus on Terra and Its UST Stablecoin

In its just-released Financial Stability Report, the Board of Governors of the Federal Reserve System reveals that it has its eye on stablecoins, which now amount to more than $180 billion in the cryptocurrency market. The...more

Foodman CPAs & Advisors

OFAC Puts Virtual Currency Industry on Notice

In a new Sanctions Compliance Guide, The Office of Foreign Assets Control (OFAC) of the U.S. Treasury reiterates that compliance obligations apply equally to transactions involving virtual currencies and those involving...more

Carlton Fields

State Regulations on Virtual Currency and Blockchain Technologies (Updated July 2020)

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There exists no uniformity with respect to how businesses that deal in virtual currencies (also known as "cryptocurrencies") such as Bitcoin are treated among the states. For these proprietors, often the first question asked...more

Orrick - On the Chain

Orrick Hosts Fireside Chat with SEC Commissioner Hester Peirce

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On March 2, Orrick had the pleasure of hosting SEC Commissioner Hester Peirce for a fireside chat discussion at our San Francisco office on the state of blockchain and cryptocurrency, the emerging regulatory landscape and her...more

BCLP

The Evolution of E-Money: What Is In A Definition?

BCLP on

Electronic money or e-money has been subject to regulation in the EU since April 2002 when the first Electronic Money Directive 2000/46/EC (“EMD1”) established the regulatory framework. However, there have been difficulties...more

Orrick - On the Chain

SEC Division of Enforcement 2019 Annual Report Shows Cryptocurrency Is Still Under the Microscope

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The SEC Division of Enforcement’s 2019 Annual Report, released earlier this month, shows a continuing focus on activities involving blockchain and cryptocurrency, and its website shows an increase in cases since last fiscal...more

Orrick - On the Chain

FinCEN’s New Guidance for Cryptocurrency Businesses – Some Questions Answered, Some New Questions Raised, Careful Consideration a...

Orrick - On the Chain on

Last month, the Financial Crimes Enforcement Network (FinCEN) released new guidance to clarify when the Bank Secrecy Act (BSA) will apply to businesses that involve cryptocurrencies (what FinCEN refers to as convertible...more

The Volkov Law Group

2019 Cryptocurrency Regulations – A Primer and What to Expect Throughout the Year

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You’ve heard this before, but it still holds true – cryptocurrency regulations are coming. Everyone knows they’re inevitable, and there has been some trepidation amongst investors that regulations will disrupt innovation and...more

Polsinelli

FINRA, Following the SEC, Prioritizes Supervision of Digital Assets in 2019 “Priorities Letter”

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On January 22, 2019 FINRA, the self-regulatory organization for U.S. broker-dealers, released its “Risk Monitoring and Examination Priorities Letter” for 2019. A number of of FINRA’s hot topics for 2019 should be of interest...more

Kramer Levin Naftalis & Frankel LLP

ESMA and EBA Assess Whether Crypto-Assets Are Regulated Under Existing EU Rules and Advise the European Commission to Consider an...

On Jan. 9, 2019, both the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) published a report on crypto-assets....more

Stinson - Corporate & Securities Law Blog

SEC Brings Enforcement Action for Failure to Verify Accredited Investor Status

CoinAlpha Advisors LLC was formed for the purpose of investing in digital assets. From October 2017 through May 2018 CoinAlpha raised approximately $600,000 from 22 investors, residing in at least five U.S. states....more

Latham & Watkins LLP

UK Cryptoassets Taskforce Publishes its Final Report

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The Taskforce’s final report outlines the UK’s policy and regulatory approach to crypto-assets and distributed ledger technology in financial services. Key Points: ..The Report provides an overview of crypto-assets and...more

Kramer Levin Naftalis & Frankel LLP

France Set to Enact the First Regulatory Framework for Crypto-asset Intermediaries

After allowing registration and transfer of unlisted securities through distributed ledgers in 2017 and drafting legislation for initial coin offerings (ICOs) earlier this year, France is contemplating the introduction of a...more

Burr & Forman

Some Legal Issues Surrounding Blockchain and Cryptocurrency Part 2: Regulation of ICOs.

Burr & Forman on

This is Part 2 of a seven-part series of posts looking at some broad legal issues affecting crypto-currencies. State and federal regulators, especially the SEC, have moved aggressively to halt unregistered initial coin...more

Goodwin

FinCEN Director Addresses Bureau’s Approach to Digital Currency and Financial Innovation

Goodwin on

On August 9, 2018, Kenneth A. Blanco, Director of the Financial Crimes Enforcement Network (FinCEN), delivered remarks at the 2018 (Legal) Tech Conference at Chicago-Kent College of Law at Illinois Institute of Technology. ...more

Ballard Spahr LLP

FinCEN Director Addresses Virtual Currency and Touts Regulatory Leadership and Value of SAR Filings

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Address Emphasizes Role of SARs in Fighting Illegal Activity, Including Drug Dealing Fueling the Opioid Crisis - Kenneth Blanco, the Director of the Financial Crimes Enforcement Network (“FinCEN”), discussed last week...more

Farrell Fritz, P.C.

Can a Digital Token Evolve? Head of Corp Fin Says “Yes”, if Network Becomes Decentralized

Farrell Fritz, P.C. on

“Can a digital asset that was originally offered in a securities offering ever be later sold in a manner that does not constitute an offering of a security?” ...more

The Volkov Law Group

The NYAG’s Virtual Markets Integrity Initiative and Transparency of Cryptocurrency Exchanges

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Recently, New York Attorney General Eric T. Schneiderman launched the state’s Virtual Markets Integrity Initiative in order to garner more information and gain insight into the inner workings of cryptocurrency exchanges. ...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

SEC Proposes to Enhance Protections and Preserve Choice for Retail Investors in Their Relationships with Investment Professionals - On April 18, the Securities and Exchange Commission voted to propose a package of...more

Ballard Spahr LLP

Australia’s Financial Intelligence Agency Implements AML Regulation of Digital Currencies

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Australia announced on April 11 that all digital currency exchanges operating in the country will be regulated by the Transaction Reports and Analysis Centre (“AUSTRAC”), the country’s financial intelligence agency. ...more

Robinson+Cole Data Privacy + Security Insider

Wyoming Enacts Comprehensive Blockchain Legislation

As numerous states propose and enact legislation focused on blockchain technology and cryptocurrencies, in 2018, no state has been more aggressive in this space than Wyoming. ...more

Orrick, Herrington & Sutcliffe LLP

Where White Collar Enforcement Is Heading

Orrick partners Greg Morvillo and Amy Walsh co-authored an article for Law360 that examines how certain significant developments in various industries, coupled with official statements by the U.S. Securities and Exchange...more

Pillsbury Winthrop Shaw Pittman LLP

Gibraltar’s Financial Services Regulator Adopts First-Ever Purpose-Built Blockchain Regulations

Gibraltar has become the first jurisdiction worldwide to offer a fully regulated framework for firms working with distributed ledger technology (DLT)—also known as blockchain. The new regulatory framework means that FinTech...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Mr. Dow’s wild ride ended on an upswing yesterday, with the DJIA adding back nearly 600 points and the three primary US indices up between 1.7 and 2.3%....more

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