News & Analysis as of

Penalties Digital Assets

Awatif Mohammad Shoqi Advocates & Legal...

Virtual Assets or Cryptocurrency Under UAE Law.

Digital currency, or cryptocurrency, is an alternative payment method developed with encryption methods. Encryption technology enables cryptocurrencies to act as both a currency and a virtual accounting system. The use and...more

Orrick, Herrington & Sutcliffe LLP

Maryland enacts law regulating virtual currency kiosk operators

On April 22, the governor of Maryland approved SB 305 (the “Act”) which enacts new regulations for the virtual currency kiosk industry in Maryland. The Act requires virtual currency kiosk operators to register their kiosks...more

Troutman Pepper Locke

Crypto Investment Firm Agrees to Pay New York AG $200M to Resolve Market Manipulation Allegations Regarding Sale of Failed Token

Troutman Pepper Locke on

On March 24, cryptocurrency investment firm Galaxy Digital Holdings (Galaxy) entered into an assurance of discontinuance (AOD) with New York Attorney General (AG) Letitia James to resolve allegations that Galaxy engaged in...more

Cadwalader, Wickersham & Taft LLP

Regulation in Flux, March 2025 - Key Takeaways From CFTC Acting Chairman Caroline Pham’s FIA Boca 50 Keynote

On March 11, 2025 at the 50th Annual International Futures Industry (“FIA”) Conference, Commodity Futures Trading Commission (“CFTC”) Acting Chairman Caroline Pham delivered a ground-breaking keynote covering administrative...more

Perkins Coie

Securities Enforcement Forum New York 2025: A New Era Looms

Perkins Coie on

Senior Division of Enforcement (Division) officials from the U.S. Securities and Exchange Commission (SEC or Commission) spoke with SEC alumni, private practitioners, and other professionals at the Securities Enforcement...more

Davis Wright Tremaine LLP

CFTC Releases Its Enforcement Results for FY 2024 Showing an All-Time High for Monetary Relief

On December 4, 2024, the CFTC's Division of Enforcement ("Division") released its enforcement results for Fiscal Year 2024. The results reflected an all-time high for monetary relief, mainly from its resolution of off-channel...more

Allen Barron, Inc.

Is it Too Late to Correct Past FBARs and File Amended Returns with the IRS?

Allen Barron, Inc. on

Is it too late to correct past FBARs and file amended returns with the IRS? The net is closing in on U.S. taxpayers with unreported or under-reported domestic and offshore income and assets. The IRS has increased audits in...more

Allen Barron, Inc.

The Action Cryptocurrency Investors Need to Take Immediately

Allen Barron, Inc. on

What is the action cryptocurrency investors need to take immediately? What has changed, and why should any digital asset holder or investor pay attention to this game-changing development? Here is the short answer: If you...more

Akin Gump Strauss Hauer & Feld LLP

CryptoLink - July 2024 Updates

CryptoLink is a compilation of news stories published by outside organizations. Akin aggregates the stories, but the information contained in them does not necessarily represent the beliefs or opinions of the firm. Akin's...more

Guidepost Solutions LLC

Emerging Expectations from the Latest Enforcement Actions Over Off-Channel Communications

Since December 2021, the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have levied almost $3.0 billion in penalties for longstanding failures by 39 broker-dealers, swap dealers,...more

Allen Barron, Inc.

Have You Disclosed Offshore Cryptocurrency and NFT Activities to the IRS?

Allen Barron, Inc. on

Have you fully disclosed offshore cryptocurrency and NFT activities to the IRS? Earlier this month, the US Department of Justice announced the indictment of a Texas man for tax returns that were inaccurate, incomplete, or...more

Cornerstone Research

SEC Enforcement of Cryptocurrency Reaches a New High

Cornerstone Research on

More than 50% increase in SEC cryptocurrency-related enforcement actions in 2023 over 2022. The Securities and Exchange Commission (SEC) continues to view cryptocurrency-related enforcement as a top priority, bringing 46...more

Akin Gump Strauss Hauer & Feld LLP

The SEC’s Second NFT Enforcement Action: SEC v. Stoner Cats 2

Key Point - Just over two weeks after the SEC announced the settlement of its first NFT enforcement action against Impact Theory, on September 13, 2023, the SEC announced its second NFT enforcement action against SC2, the...more

Walkers

Digital Asset Business Act update

Walkers on

On 19 May 2023, Bermuda Government has passed legislation to amend the Digital Asset Business Act 2018 ("DABA" or the "Act") which further enhances the legal and regulatory digital asset business ("DAB") framework and...more

Shipkevich PLLC

New Jersey Legislation to Regulate Virtual Currencies Likely to Become Law

Shipkevich PLLC on

Overview - New Jersey is positioned to adopt seminal legislation that is sure to alter the regulatory dynamic for cryptocurrency-focused businesses that operate within the state. The Digital Asset and Blockchain...more

White & Case LLP

Dubai issues new regulations on the marketing of Virtual Assets

White & Case LLP on

What you need to know about the VARA Marketing Regulations - Following the issuance of Law No.4 of 2022 on the Regulation of Virtual Assets in February 2022 (the "DVAL") and the establishment of the Dubai Virtual Assets...more

Perkins Coie

Blockchain Week in Review - July 2021

Perkins Coie on

European Central Bank announces the investigation phase of a digital Euro project. SEC charges Coinschedule.com with unlawfully touting digital asset securities. Federal court order permanently bans PaxForex and imposes a...more

Wilson Sonsini Goodrich & Rosati

A Question To The SEC After The Block.One Settlement: Has The Sec Decided To Be Less Aggressive In Sanctioning Violations By...

Until September 30, 2019, Securities and Exchange Commission (“SEC”) enforcement actions in the crypto industry conveyed a consistent message: most crypto is a security, and if a token issuer does not follow the registration...more

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