News & Analysis as of September 21, 2024

FinCEN › Blockchain

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The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of money laundering, terrorist financing and other financial crimes by collecting, monitoring, and analyzing financial transaction data. Such data is disseminated to both domestic and international law enforcement agencies. less -

Blockchain and Digital Assets News and Trends - August 2024

DLA Piper on 9/3/2024

This monthly bulletin is designed to help companies identify important legal developments governing the use and acceptance of blockchain technology, smart contracts, and digital assets....more

Weekly Blockchain Blog - August 2024 #4

BakerHostetler on 8/26/2024

Financial Firms Announce Crypto Initiatives, Stablecoin Growth Continues - A major U.S. crypto investment company recently announced the launch of its Avalanche Trust, which “offers investors the opportunity to gain...more

Weekly Blockchain Blog - July 2024

BakerHostetler on 7/1/2024

Institutional Firms Enter Crypto Market; Crypto Firms Partner on New Products - According to recent reports, a major global bank is establishing a spot trading desk for buying and selling bitcoin and ether. The new desk,...more

Weekly Blockchain Blog - February 2024

BakerHostetler on 2/20/2024

Crypto Firms Make Acquisitions, Integrate Products; New Crypto Index Launches - According to a recent press release, a major U.S. fintech company has announced an agreement to acquire a major digital asset custody provider....more

“Decentralized Finance (DeFi),” Fintech, Regtech, and the Financial Services Industry (Ch. 8A)

WilmerHale on 2/9/2024

Decentralized Finance (DeFi) is an umbrella term used to describe financial services provided outside of the traditional markets, that rely on blockchain technologies to create innovative products instead of relying on...more

Implications of FinCEN’s Notice of Proposed Rulemaking on Virtual Currency Mixers

K2 Integrity on 1/29/2024

On 17 January 2024, K2 Integrity hosted a webinar on FinCEN’s Notice of Proposed Rulemaking on virtual currency mixers and the implications of this first-of-its-kind 311 designation on the virtual currency industry. Elizabeth...more

Don’t Get Caught Up in the Mix: OFAC Sanctions Another Crypto Mixer for Potential Violations of Sanctions Regulations and FinCEN...

Proskauer - Blockchain and the Law on 12/22/2023

U.S. government agencies continue to take action against cryptocurrency mixing services that enable cybercriminals to obfuscate the trail of stolen proceeds on public blockchains stemming from illicit cyber activity. On...more

Episode 302 -- Matt Stankiewicz on DOJ's Massive Criminal Settlement with Cryptocurrency Exchange Binance and its CEO Changpeng...

The Volkov Law Group on 12/17/2023

On November 21, 2023, The U.S. Department of Justice (“DOJ”) announced settlement agreements with Binance Holdings Limited (“Binance”), the world’s largest cryptocurrency exchange, and Changpeng Zhao (affectionally known as...more

FinCEN Seeks Enhanced Oversight of Crypto Mixing

Latham & Watkins LLP on 11/3/2023

A proposed rule would increase Treasury’s insight into non-US crypto mixing transactions to combat illicit activities by malicious actors. On October 19, 2023, the US Department of the Treasury’s Financial Crimes...more

Stablecoin Pilot Announced; Crypto Market Data Published; FinCEN Proposal to Combat Crypto Mixing; EU Bank Addresses DAOs; Hacking...

BakerHostetler on 10/30/2023

Banks Complete Stablecoin Pilot, Crypto Indices and Web3 Solutions Launch - According to recent reports, a major German bank and an affiliate of a major British bank have completed a pilot in which stablecoin swaps were...more

DSIR Deeper Dive: 2023 Crypto Threat Landscape

BakerHostetler on 10/6/2023

Following one of the most turbulent years in crypto history, 2023, in contrast, unfolded as a year of reprieve, including from crypto threats. According to a July 12, 2023, report from blockchain analytics firm Chainalysis,...more

Cryptocurrency: Legal Developments and Outlook

King & Spalding on 9/25/2023

Federal and state regulators have taken an increased interest in regulating cryptocurrencies, digital assets, and the larger blockchain ecosystem. This landscape is opaque and rapidly evolving, and many industry participants...more

[Event] 2nd Forum on Digital Assets Compliance: AML, Sanctions and Regulatory Oversight - October 17th - 18th, New York, NY

American Conference Institute (ACI) on 9/25/2023

With so many new, emerging risks coming to the forefront, ACI is excited to announce our Digital Assets Compliance: AML, Sanctions and Regulatory Oversight. Unlike other conferences, this highly anticipated event stands apart...more

DeFi protocol Uniswap and investors avoid suit for fraudulent activity on digital asset exchange

A&O Shearman on 9/15/2023

On August 30, 2023, in a case of first impression, the U.S. District Court for the Southern District of New York dismissed in full a putative securities class action against Uniswap Labs, a decentralized finance (“DeFi”)...more

Cryptocurrencies Mirrored a New Gold Rush, Then Ended Up Similarly: With Scammers Going to Jail

Kohn, Kohn & Colapinto LLP on 8/23/2023

Despite the excitement that surrounded original cryptocurrencies like Bitcoin, the dust eventually settled, revealing that only a few early investors got rich and many others lost their life savings. But it was not long...more

Blockchain+ Bi-Weekly - July 2023

Polsinelli on 7/28/2023

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

Blockchain Regulatory Certainty Act Would Protect Non-Custodial Crypto Services

Latham & Watkins LLP on 3/31/2023

The bipartisan bill would provide a federal safe harbor for non-custodial blockchain service providers from state money transmission and digital asset licensing laws. On March 23, 2023, US House of Representatives...more

Blockchain and Digital Assets: 2022 In Cryptocurrency

Harris Beach PLLC on 2/7/2023

With 2022 now fading into the background and 2023 underway, a review of some of the 2022 highlights in cryptocurrency provides an opportunity to look at the developments of the past year with a fresh perspective – and to...more

Paper Touts DeFi FX Benefits; New Stablecoin Launched; DAO Toolkit Published; BIS Addresses Crypto Risk; SEC, FinCEN, and DOJ...

BakerHostetler on 1/23/2023

Paper Explores Benefits of DeFi for FX; Australian Bank Launches Stablecoin - A recent industry paper found that DeFi can reduce costs and enhance transparency in foreign exchange (FX) markets. The paper concludes that...more

Crypto Link - November 2022

Akin Gump Strauss Hauer & Feld LLP on 12/15/2022

This edition of CryptoLink follows the 2022 U.S. midterm elections, and lawmakers in Congress are now outlining ambitious agenda priorities for next Congress, putting digital assets near the top of the list. Following the FTX...more

Crypto Payment Products, DeFi Networks and Price Indices Launch; CBDC Report and NFT Royalty Data Published; FinCEN, FTC Address...

BakerHostetler on 12/12/2022

Payments Firms Launch Crypto Products, New DeFi Price Indices Announced - A U.S. fintech company recently announced the launch of a fiat-to-crypto on-ramp, which facilitates fiat-to-crypto payments using “a customizable...more

Potential BSA/AML Roadmap – Crypto Exchange Bittrex Enforcement Actions

Harris Beach PLLC on 11/17/2022

The U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) and Office of Foreign Assets Control (“OFAC”) settled enforcement actions with Washington state-based Bittrex. In the two settlements, Bittrex...more

Top PHive Crypto Enforcement Notes: November Edition

Paul Hastings LLP on 11/4/2022

It certainly feels like a race between innovation and enforcement these days, with regulators and law enforcement stepping up the cautionary rhetoric and promising broader enforcement aimed at corporate actors....more

Crypto Products Launch; FSB, OECD Address Crypto Regulation and Tax; US Exchange Fined $24M; DOJ and SEC Actions Continue; Major...

BakerHostetler on 10/17/2022

New Crypto Products Launch in Custody, Cloud Collaborations and Stablecoins - This week, a major U.S. financial institution announced that its Digital Asset Custody platform is now live in the United States. According to...more

Blockchain Game Developers and FinCEN: When are State Money Transmission Laws Applicable?

Sheppard Mullin Richter & Hampton LLP on 10/4/2022

The rising prevalence of crypto and virtual currencies has invited the scrutiny of several regulatory bodies who continue to grapple with the unique challenges posed by blockchain technology, FinCEN being one prime example....more

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FinCEN › Blockchain

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