News & Analysis as of September 21, 2024

FinCEN › Token Sales

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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 -

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

2020 Digital Asset Regulatory Lookback (US Edition)

Latham & Watkins LLP on 1/22/2021

Regulators once again offered piecemeal guidance, while focusing on risks and enforcement. Meanwhile, innovation and institutional adoption took off. Last year, Latham & Watkins sounded a hopeful note that 2020 would provide...more

Recent Developments in the Regulatory Treatment of Cryptoassets in the United Kingdom and United States

Morgan Lewis on 8/16/2019

Regulators on both sides of the Atlantic continue to monitor and address cryptoasset and distributed ledger technology activities. We recently posted on the guidance issued by the US Financial Crimes Enforcement Network on...more

FinCEN Publishes Guidance Pertaining to Certain Business Models Involving Convertible Virtual Currencies

Katten Muchin Rosenman LLP on 6/26/2019

On May 9, the Financial Crimes Enforcement Network of the US Department of the Treasury (FinCEN) issued guidance relating to how its regulations apply to certain businesses that transact in "convertible virtual currencies"...more

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

Orrick - On the Chain on 6/24/2019

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

New FinCEN Cryptocurrency Guidance Provides Comprehensive Overview of BSA Application to Crypto Businesses

Ballard Spahr LLP on 5/31/2019

Some Answers — Producing Even More Questions - On May 9, 2019, the Financial Crimes Enforcement Network (“FinCEN”) published a comprehensive “interpretive guidance” (the “Guidance”) to “remind” businesses and individuals...more

Blockchain Week in Review - April 2019 #3

Perkins Coie on 5/6/2019

U.S. Developments - Regulatory Updates - Arca Investment Management Files With SEC to Issue Stablecoin - Arca Investment Management, a California-based investment management firm specializing in digital assets, filed an...more

Blockchain and Tax: Navigating Uncertainty

Jones Day on 5/2/2019

Virtual currencies (often called cryptocurrencies) such as bitcoin are perhaps blockchain's best-known application. As these and other blockchain-based digital assets become more common, and attract more regulatory and...more

Blockchain Week in Review - March 2019 #4

Perkins Coie on 4/4/2019

U.S. Developments - Regulatory Updates - SEC’s Valerie Szczepanik Speaks at SXSW - The U.S. Securities and Exchange Commission’s (“SEC”) Associate Director of the Division of Corporation Finance and Senior Advisor for...more

Blockchain Week in Review - March 2019 #3

Perkins Coie on 3/22/2019

U.S. Developments - Regulatory Updates - SEC Chairman Clayton Explains that an Asset Can Lose Its Status of Being Labeled a Security - U.S. Securities and Exchange Commission (“SEC”) Chairman Jay Clayton appears to have...more

Blockchain Games and Collectibles – Patents and Other Legal Issues

Sheppard Mullin Richter & Hampton LLP on 3/20/2019

1. Blockchain Games and Collectibles Are on the Rise – The use of blockchain (or distributed ledger) technology for games (a.k.a blockchain games) and token-based digital collectibles is on the rise. The overnight popularity...more

ICOs – The Developing Regulatory Environment

Womble Bond Dickinson on 3/12/2019

Initial Coin Offerings, or ICOs, have emerged at the intersection of cryptocurrencies and blockchain. Compared to a traditional equity offering in the United States where a company issues stock to investors in exchange for...more

Novel Concerns in FINRA's 2019 Risk Monitoring and Examination Priorities Letter

King & Spalding on 2/22/2019

On January 22, 2019, FINRA released its 2019 Annual Risk Monitoring and Examination Priorities Letter (the “Priorities Letter”). Late last year, as part of FINRA360 – the organization’s ongoing improvement initiative – FINRA...more

US Blockchain Enforcement and Litigation Update

Dechert LLP on 2/1/2019

Over the past two years, prices for cryptocurrencies and other digital assets have experienced extreme gains and declines, while billions of dollars have been raised through Initial Coin Offerings (“ICOs”). In this dynamic...more

Skadden's 2019 Insights: As Interest in Blockchain Technology Grows, So Do Attempts at Guidance and Regulation

Skadden, Arps, Slate, Meagher & Flom LLP on 1/18/2019

In 2018, the number of blockchain-enabled projects increased sharply as established companies sought to apply distributed ledger technology to their existing business models and startups developed new and disruptive models...more

Blockchain Week in Review - December 2018

Perkins Coie on 12/13/2018

U.S. Developments - SEC Remarks on International Virtual Currency Enforcement - On December 5, 2018, Steven Peikin, Co-Director of the Division of Enforcement at the U.S. Securities and Exchange Commission (“SEC”), gave a...more

Comentarios del Director de FinCEN sobre las Deficiencias en el Cumplimiento de la Moneda Virtual

Foodman CPAs & Advisors on 12/6/2018

El 8 de agosto de 2018, el Director de FinCEN, Kenneth A. Blanco, pronunció un discurso en la Conferencia Técnica (Legal) Chicago-Kent Block 2018. Los puntos más destacados de sus comentarios incluyen...more

Cryptocurrencies: Matching insurance to risks and exposures

Perkins Coie on 10/19/2018

While cryptocurrencies and digital tokens — also known as “digital assets” — have disrupted traditional notions of commerce, capital and investing, there is another asset which any company engaged in this space will need:...more

Blockchain Week in Review - October 2018 #2

Perkins Coie on 10/18/2018

U.S. Developments - Regulatory Updates - FinCEN Issues Advisory on Illicit Iranian Activities - On October 11, 2018, the U.S. Treasury Department Financial Crimes Enforcement Network (“FinCEN”) issued an advisory to...more

Blockchain Week in Review - October 2018

Perkins Coie on 10/9/2018

U.S. Developments - Federal Bank Regulators Issue Joint Statement on Collaborative BSA/AML Compliance - On October 3, 2018, a group of federal bank regulators and the Financial Crimes Enforcement Network (“FinCEN”)...more

FinCEN’s Director Comments on Virtual Currency Compliance deficiencies

Foodman CPAs & Advisors on 9/10/2018

On August 8, 2018, FinCEN Director Kenneth A. Blanco, delivered a speech at the 2018 Chicago-Kent Block (Legal) Tech Conference. Highlights from the commentary include...more

Blockchain Week in Review - July 2018 #2

Perkins Coie on 7/31/2018

U.S. Developments - Regulatory Updates - CFTC Issues Customer Advisory Urging Public to Use Caution When Buying Virtual Currencies - On July 16, 2018, the U.S. Commodity Futures Trading Commission (“CFTC”) issued...more

Virtual Currency: Anti-Money Laundering and Terrorist Financing Update

Perkins Coie on 7/26/2018

On July 18, 2018, the Financial Action Task Force (“FATF”), published its report to the July 2018 G20 Finance Ministers and Central Bank Governors’ meeting. The report sets out FATF’s ongoing work to fight money laundering...more

Cryptoasset Exchanges Respond to New York Attorney General’s Virtual Markets Integrity Initiative

Proskauer - Blockchain and the Law on 5/14/2018

On April 17, 2018, the New York Attorney General’s Office (“OAG”) launched a Virtual Markets Integrity Initiative and sent letters to thirteen cryptoasset trading platforms requesting, through a questionnaire, disclosures on...more

Legal Issues With Blockchain-Based Crypto Games and Collectibles

Sheppard Mullin Richter & Hampton LLP on 5/11/2018

The use of blockchain technology for crypto games and token-based digital collectibles is on the rise. One of the first crypto games of note was CryptoKitties. It may turn out that CryptoKitties becomes to crypto games what...more

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FinCEN › Token Sales

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