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Virtual Currency › Ponzi Scheme › Today's Popular Updates

Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender... more +
Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency.    less -
Foodman CPAs & Advisors

Fraud Is The Number One Crime In Money Laundering

Foodman CPAs & Advisors on

On February 2024, the U.S. Treasury released the 2024 National Money Laundering Risk Assessment (NMLRA) which examines the current money laundering environment and identifies the ways in which criminals and other actors seek...more

Carlton Fields

Proposed Cryptocurrency Class Action Goes Forward in Florida With Defendant’s Help

Carlton Fields on

Two plaintiffs in Miami-Dade County have filed a class action complaint against cryptocurrency platform Empires X Corp. and its founders based on an alleged Ponzi scheme. In Villanueva v. Empires X Corp., pending in Florida’s...more

The Volkov Law Group

DOJ Targeting Crypto Industry for Enforcement

The Volkov Law Group on

A basic truism — you do not want to become the subject of a Justice Department investigation.  The wheels of justice — prosecutors and law enforcement — can cause real harm to organizations and individuals that violate the...more

Sheppard Mullin Richter & Hampton LLP

DOJ Charges Six Individuals with NFT Fraud

Sheppard Mullin Richter & Hampton LLP on

On June 30, the DOJ charged six individuals in four separate cases for a fraudulent NFT trading scheme. The first case alleged that an individual committed wire fraud and engaged in a conspiracy to commit international...more

Goodwin

Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit

Goodwin on

IN THIS ISSUE - Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit; Federal Court of Appeals Dismisses Leading Fannie Mae and Freddie Mac Shareholder Lawsuits; NY Seeks Blockchain...more

Kohn, Kohn & Colapinto LLP

Whistleblowers Key to Combating Cryptocurrency Fraud

Kohn, Kohn & Colapinto LLP on

In September 2021, the market capitalization for digital assets, such as cryptocurrencies and NFTs, was valued at $2.14 trillion. The cryptocurrency market has attracted a variety of fraudulent activities in which the...more

SECIL Law

Deconstructing the SEC's Cryptocurrency-Suppression Program: Part Two

SECIL Law on

Origins of Cryptocurrency Prohibition - Introduction - This is Part II of a series of articles that addresses the Securities and Exchange Commission (“SEC”)’s suppression of cryptocurrency, or what we call private digital...more

BakerHostetler

US Bank Crypto Services Proceed, Crypto Debit Cards Launch in US and Mexico, Blockchain Enterprise Developments, and Crypto...

BakerHostetler on

US Bank and Trust Companies Move Forward with Cryptocurrency Services - This week Avanti Bank & Trust was granted a bank charter from the Wyoming State Banking Board. ...more

BakerHostetler

Ethereum Fork Successful, Solutions Target Sneakers and Browsers, EU and NY Consider Regulations, Enforcement Actions Continue

BakerHostetler on

Ethereum Fork Implemented, Exchanges Expand Services, New Bitcoin Network Data - The Ethereum network’s Istanbul hard fork went forward late last week with the support of node operators, miners and cryptocurrency exchanges. ...more

Perkins Coie

Virtual Currency / FinTech Week-in-Review

Perkins Coie on

Week of October 15-19, 2018 - SEC Launches FinHub to Facilitate Public Engagement on FinTech Issues - On October 18, the SEC launched FinHub, a new “Strategic Hub for Innovation and Financial Technology.” The SEC...more

Sheppard Mullin Richter & Hampton LLP

CFTC Cryptocurrency Enforcement Receives Further Judicial Support

Sheppard Mullin Richter & Hampton LLP on

The Commodity Futures Trading Commission (“CFTC”) obtained an important court win and boost to its regulatory authority over Cryptocurrencies this month. A federal district court in Massachusetts recently issued a decision in...more

Cadwalader, Wickersham & Taft LLP

Wild West No Longer: The SEC Brings Enforcement Actions Against Two Initial Coin Offerings

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Ending months of speculation about when regulators would wade into the world of Bitcoin and other digital currencies, the U.S. Securities and Exchange Commission (“SEC”) recently brought its first enforcement actions against...more

Perkins Coie

Blockchain Week in Review – April 2017 #2

Perkins Coie on

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Katten Muchin Rosenman LLP

Recent Key Bitcoin and Virtual Currency Regulatory and Law Enforcement Developments

Katten Muchin Rosenman LLP on

In recent months, US federal and state regulators have continued to focus on Bitcoin and the adoption of a regulatory framework for it and other "virtual currencies," as well as the enforcement of existing securities laws to...more

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