Crypto Firms Announce New Products in Payments, Investments, Custody - A major U.S. digital asset management company recently announced the creation and public launch of its MakerDAO Trust, which “offers investors the...more
As the Web3 and digital assets ecosystem continues to grow, hacks, scams and other threats remain a major cause for concern and a potential impediment to broader adoption. Data from various sources indicates that after a year...more
On June 28, 2024, the U.S. Treasury Department and the Internal Revenue Service (IRS) issued final broker reporting regulations that mandate broker reporting for centralized exchanges and hosted wallet providers, providing...more
Fintech and Crypto Firms Announce New Cryptocurrency Products - According to recent reports, a major U.S. fintech firm will begin letting its users accept payments in USDC. ...more
Stablecoin, Wallet Products Launch; German Bank Launches Crypto Services - Circle, a global fintech firm and issuer of the USDC stablecoin, has announced new smart contract functionality to allow holders of BUIDL, a...more
On February 7, 2024, the U.S. Securities and Exchange Commission (“SEC”) announced charges and a related cease-and-desist order (the “Order”) against TradeStation Crypto, Inc. (“TradeStation”) for failing to register the...more
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
US Exchange Approved for Crypto Futures; Wallet Integrates with Fintech Firm - A major U.S. cryptocurrency exchange recently announced that it has secured regulatory approval from the National Futures Association (NFA) to...more
CBDC Initiatives Advance in Colombia and Hong Kong - According to a recent press release, a major U.S. fintech company and “leader in enterprise blockchain and crypto solutions” has announced a collaboration with Colombia’s...more
New Products Launch for Crypto Futures, Wallets, Stablecoins and Settlement - According to a recent press release, a leading global options exchange has received the necessary approval from the U.S. Commodity Futures...more
European Bank Launches Stablecoin; Financial Firms Expand Crypto Products - A subsidiary of a major European financial services firm recently launched EUR CoinVertible (EURCV), an Ethereum ERC20 stablecoin backed 1:1 by...more
Reportedly, there are over a million creditors in the bankruptcy of the cryptocurrency exchange FTX and its affiliated entities. A substantial number of these FTX creditors may include U.S. retail customers who held and...more
Part 1 – Celsius Bankruptcy - The Celsius Network was conceptualized as an alternative to conventional banking, offering its customers return rates of up to 20% on deposits of digital assets, and providing digital...more
Bitcoin Association for BSV will release software to facilitate court orders to freeze stolen or lost coins, while some courts recently authorised service proceedings by tokenised airdrop. Earlier this year, in Tulip...more
Last week, the Federal Deposit Insurance Corporation (“FDIC”) was part of two releases clarifying that only insured banks and thrifts enjoy FDIC insurance, notwithstanding what some non-banks may say in their marketing...more
In a recent innovative ruling, the English High Court has granted permission for a claim to be served on a defendant by non-fungible token (NFT), embracing blockchain technology and taking a pragmatic view on the most...more
In what may be the first of its kind, a New York state court has authorized service via token airdrop in a case regarding allegedly stolen cryptocurrency assets. This form of alternative service is novel but could become a...more
Fundamental to the due process of law is notice—a requirement that all parties are made aware that a lawsuit could alter their legal rights or duties. Most defendants will be served in person by a process server....more
La respuesta a la pregunta: “¿Está su criptomoneda en una Billetera Personal o en un Intercambio?” importa, ya que hemos aprendido que las criptomonedas que se mantienen en un “Crypto Exchange” (Intercambio) NO es lo mismo...more
After the attacks on JBS and Colonial Pipeline, the U.S. Treasury Department will likely consider increasing its enforcement of anti-money-laundering laws and adopt new reporting requirements for cryptocurrency transactions....more
• 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