Keith R. Murphy

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Financial Firms and Crypto Networks Launch Initiatives; Nonprofit Challenges Crypto Tax Provision; Crypto Enforcement Continues; UST Analysis Published

By Robert A. Musiala, Veronica Reynolds, Joanna F. Wasick, Jordan R. Silversmith, Keith R. Murphy and Kayley Sullivan on June 17, 2022 Posted in Blockchain

In this issue:• Firms Announce New Crypto Initiatives; Data Published on Crypto and NFT Use• Nonprofit Coin Center Files Lawsuit Challenging Crypto Provision of Tax Code• OpenSea and Chainlink Announce Network Transitions• SEC Investigates Stablecoins, Crypto Exchanges; DOJ Seizes Dark Market• Report Analyzes UST Collapse, Australia Reports Losses to Crypto Scams Firms Announce New Crypto … Continue Reading

An Introduction to Non-Fungible Tokens (NFTs)

By Robert A. Musiala, Joanna F. Wasick, Keith R. Murphy and Veronica Reynolds on June 7, 2022 Posted in NFT, NFTs

Non-fungible tokens (NFTs) are the latest advancement in the ongoing evolution of the blockchain market. To help put this new phenomenon into context, the BakerHostetler Blockchain team has prepared a series of papers that examine NFTs from various perspectives. In the first paper in the series, we introduce NFTs from the technological and market perspectives. … Continue Reading

Crypto Payment Initiatives Launch; Report Cites Evolving Crypto Views; G7, ECB, BIS Address Crypto Risks; DOJ, CFTC Target NFT Insider Trading, Crypto Fraud

By Robert A. Musiala, Lauren Bass, Veronica Reynolds, Keith R. Murphy and Teresa Goody Guillén on June 3, 2022 Posted in Blockchain

In this issue: • New Cryptocurrency Payments Systems, Tokens and Trade Associations Launch• Cryptocurrency Industry Report Notes Change in Consumer and Insider Views• Digital Asset and Blockchain Risks and Opportunities Addressed by G7, ECB, BIS• DOJ Brings First NFT Insider Trading Case, CFTC Action Targets Crypto Fraud New Cryptocurrency Payments Systems, Tokens and Trade Associations … Continue Reading

Crypto Products and Mining Initiatives Launch; Sports and Spirits Firms Embrace Blockchain; US Agencies Seek Crypto Input, Address Risks, Target Crimes

By Robert A. Musiala, Keith R. Murphy, Lauren Bass, Kayley Sullivan, Joanna F. Wasick and Alex Karambelas on May 20, 2022 Posted in Blockchain

In this issue: • New European Crypto ETF Launches, Bitcoin Mining Sees Wider Adoption• Sports Leagues and Alcohol Brands Expand Blockchain Partnerships• Congress Addresses CBDC, Commerce Dept. Seeks Input on Digital Assets• SEC and FinCEN Officials Comment on Cryptocurrency Sector Risks• US Law Enforcement Targets Crypto Scams and Sanctions Evasion New European Crypto ETF Launches, … Continue Reading

Banks and Retailers Embrace Crypto, Bitcoin Environmental Costs Debated, New NFT Initiatives Launch, Various Agencies Address Crypto, DeFi Hacks Continue

By Robert A. Musiala, Maria Luevano, Joanna F. Wasick, Keith R. Murphy, Teresa Goody Guillén and Alex Karambelas on May 6, 2022 Posted in Blockchain

In this issue: • Banks and Retailers Venture Further into Cryptocurrencies and Blockchain• Congress Spars with Industry on Environmental Impact of Bitcoin Mining• New NFT Offerings Revealed by Entertainment, Social and Crypto Companies• FinCEN Director and NY DFS Address Cryptocurrency Risks• DOJ Targets Crypto Fraud, SEC Doubles Crypto Staff, JF Issues NFT Red Flags• Hackers … Continue Reading

Banks Expand Digital Asset Offerings; Crypto Market Actors Critique SEC Proposal; New OFAC Crypto Sanctions; Agencies Issue Warnings; DeFi Hacked

By Robert A. Musiala, Keith R. Murphy, Joanna F. Wasick, Christina Gotsis and Alex Karambelas on April 22, 2022 Posted in Blockchain

In this issue: • Banks Expand Digital Asset Offerings, BIS Report Addresses CBDCs• Cryptocurrency Market Actors Publish Critiques of Recent SEC Proposal• OFAC Sanctions North Korean Crypto Hackers and Russian Crypto Miner• Law Enforcement in US, Australia Issue Warnings as DeFi Hacks Continue Banks Expand Digital Asset Offerings, BIS Report Addresses CBDCs By Keith R. … Continue Reading

New Crypto Payment Initiatives; Regulators Address Crypto in Speeches; Lawmakers Propose Legislation; OFAC Sanctions Crypto Actors; DeFi Hacked

By Robert A. Musiala, Jordan R. Silversmith, Teresa Goody Guillén, Veronica Reynolds, Keith R. Murphy and Joanna F. Wasick on April 8, 2022 Posted in Blockchain

In this issue: • Crypto Payment Initiatives Announced in Stablecoins, Lightning Network, Mining• SEC Chairman and Comptroller of the Currency Address Crypto in Speeches• SEC Addresses Crypto Accounting, Commissioner Peirce Voices Criticisms• Stablecoins Take Center Stage in Proposed Legislation, Reports and UN Donation• OFAC Sanctions Russian Dark Markets, Adds 100 Crypto Public Keys to SDN … Continue Reading

Executive Order Addresses Digital Assets; Banks and Restaurants Launch Crypto Initiatives; FinCEN Issues Alert; SEC, CFTC and DOJ Bring Actions

By Robert A. Musiala, Alex Karambelas, Veronica Reynolds, Keith R. Murphy, Joanna F. Wasick and Lauren Bass on March 11, 2022 Posted in Cryptocurrency, FinTech, Government, Securities & Exchange Commission, Uncategorized

In this issue: President Biden Issues Executive Order Addressing Digital Assets Banks Join USDF ‘Stablecoin’ Consortium, Pursue Crypto Custody Offerings U.S. Restaurants Adopt Crypto; Swiss City Calls Crypto ‘De Facto’ Legal Tender Cryptocurrency Sanctions Compliance Activity Spikes Following Russian Actions SEC, CFTC and DOJ Bring Charges Alleging Cryptocurrency Fraud Schemes President Biden Issues Executive Order … Continue Reading

Financial Firms Continue Expanding into Cryptocurrency Markets; Crypto Donations Reach Ukraine; DOJ Crypto Enforcement Continues; SEC Probes NFTs

By Robert A. Musiala, Alex Karambelas, Keith R. Murphy and Teresa Goody Guillén on March 4, 2022 Posted in Blockchain

In this issue: Traditional Financial Firms Expand Reach into Cryptocurrency Sphere Cryptocurrency Donations Pour In to Fund Ukrainian Government and Charities DOJ Secures Guilty Pleas and Charges Alleged Ponzi Scheme; SEC Launches NFT Probe… Continue Reading

New Crypto Products Launch; Market Reports Published; Treasury Dept. Addresses Crypto Tax; Crypto Enforcement Actions and Threats Continue

By Robert A. Musiala, Joanna F. Wasick, Nicholas C. Mowbray, Alex Karambelas, Lauren Bass and Keith R. Murphy on February 18, 2022 Posted in Bitcoin, Blockchain, Cryptocurrency, Cybersecurity, Enforcement, FinTech, NFT, NFTs, Stablecoin

In This Issue: •Reports Address Crypto M&A and Metaverse, New Crypto Products Launch •Treasury Dept. Letter Addresses Crypto Tax; Reports Address Crypto Risks •US, UK and Canadian Law Enforcement Take Aim at Cryptographic Assets •Counterfeits, Wash Trading and Bots: Crypto Market Threats Continue •Chainalysis Previews 2022 Cryptocurrency Crime Report Findings… Continue Reading

U.S. Bank Acquires Blockchain Infrastructure; SEC Approves Blockchain-Based Exchange; FTC Warns on Crypto Scams; NFT Threats, Crypto Hacks Reported

By Robert A. Musiala, Veronica Reynolds, Jordan R. Silversmith, Lauren Bass, Joanna F. Wasick and Keith R. Murphy on February 4, 2022 Posted in Blockchain, Cryptocurrency

In this issue: • U.S. Bank Seeks to Launch Stablecoin; New Crypto Payments Data Released • U.S. Bank Seeks to Launch Stablecoin; New Crypto Payments Data Released • FTC Warns of Crypto Scams, IRS Offers Staking Settlement; MAS Bans ATMs • Reports Address NFT Platform Exploits, Wash Trading and Money Laundering • SEC Scrutinizes Crypto … Continue Reading

Crypto Payments Firms Make Moves; NFT and Blockchain Supply Chain Projects Launch; Central Bank Addresses CBDCs; SEC and DOJ Bring Crypto Actions

By Robert A. Musiala, Veronica Reynolds, Keith R. Murphy, Joanna F. Wasick and Jordan R. Silversmith on January 28, 2022 Posted in Blockchain, Cryptocurrency, NFTs, Securities & Exchange Commission, Supply Chain

In this issue: • Crypto Payments Consortium Sells Assets; Other Crypto Firms Make Moves • New NFT Projects Launch in Art, Music, Fashion, Sports and Social Media • Firms Launch Blockchain Supply Chain Initiatives in Pharma and Liquor Products • U.S. Central Bank Addresses CBDCs; Congressman Proposes Crypto Action • SEC Scrutinizes Crypto Interest Accounts … Continue Reading

US Banks Launch New Stablecoin; NFT Markets Expand; OCC Promotes Stablecoin Regulation; Blockchain Networks Evolve; Exchange Hacked for $34M

By Robert A. Musiala, Keith R. Murphy, Lauren Bass, Veronica Reynolds, Joanna F. Wasick and Jordan R. Silversmith on January 21, 2022 Posted in Blockchain, Cryptocurrency, NFTs, Stablecoin

In this issue: • US Banks Launch New Stablecoin, Data Shows Increasing Interest in Crypto • With New Acquisitions and Partnerships, NFT Marketplaces Continue to Expand • Acting Comptroller of the Currency Promotes Stablecoin Regulation • Blockchain Networks Implement Scaling and Operational Initiatives • Major Cryptocurrency Exchange Hacked for $34M, Customers Reimbursed US Banks Launch … Continue Reading

New Initiatives Launch in Stablecoins, CBDCs, Tokenized Securities, Supply Chain; Crypto Guidance Published for Credit Unions; CFTC Fines Events Market

By Robert A. Musiala, Veronica Reynolds, Keith R. Murphy, Lauren Bass, Joanna F. Wasick and Kayley Sullivan on January 7, 2022 Posted in Blockchain, Enforcement, Stablecoin, Tax

• Financial Messaging Network Launches Experiments in Stablecoin Sector • Technology and Finance Firms Announce CBDC and Digital Securities Initiatives • Gold, Wool and Cargo: Global Supply Chains Continue to Adopt Blockchain • NCUA Clarifies Crypto Guidance for Credit Unions; Crypto Tax Report Published • CFTC Targets Smart Contracts Market; DOJ Traces Bitcoin Linked to … Continue Reading

Banks to Use Blockchain for FX; Avalanche Adds USDC; NFT Boom Continues; Regulators Address Crypto Ads, Derivatives; Reports Address Crypto Threats

By Robert A. Musiala, Jordan R. Silversmith, Lauren Bass and Keith R. Murphy on December 17, 2021 Posted in Bitcoin, Blockchain, Cryptocurrency, NFTs

• Banks to Use Blockchain for FX Settlement, Avalanche Network Adds USDC • From Auctions to Venture Capital, NFTs Continue to Generate Millions • IMF Calls for Crypto Regs, UK Bans Ads, ISDA Addresses Crypto Derivatives • Cryptocurrency Exchange Hacked for $77M; Reports Discuss Crypto Threats Banks to Use Blockchain for FX Settlement, Avalanche Network … Continue Reading

Financial Firms Plan Decentralized Exchange, Launch Digital Bond; NFTs Launch in Sports, Fashion; Blockchain Tracing Solutions Launch; OCC Clarifies Crypto Guidance for Banks

By Robert A. Musiala, Kayley Sullivan, Keith R. Murphy, Lauren Bass and Joanna F. Wasick on December 3, 2021 Posted in Bitcoin, Blockchain, Cryptocurrency, Enforcement, NFTs

• US and Swiss Financial Firms Announce Decentralized Exchange, Digital Bond • Sports and Fashion NFTs Launch; Food Delivery Service Adds Bitcoin Rewards • Blockchain Solutions Track Data for Carbon Footprints, Medical Supplies, Wine • OCC Letter Clarifies Crypto Guidance for Banks, IRS Reports Crypto Seizures US and Swiss Financial Firms Announce Decentralized Exchange, Digital … Continue Reading

Crypto Initiatives Launch; Bitcoin Upgrade Activated; Reports Address DeFi, Tether; SEC Rejects Bitcoin ETF; DOJ to Sell $56M in Crypto Fraud Proceeds

By Robert A. Musiala, Lauren Bass, Veronica Reynolds, Joanna F. Wasick and Keith R. Murphy on November 19, 2021 Posted in Bitcoin, Blockchain, Cryptocurrency, Enforcement, Uncategorized

• Raising Municipal Funds and Rewarding Loyalty: New Cryptocurrency Use Cases • Bitcoin’s Taproot Upgrade Activated to Improve Network Security • Reports Address DeFi Security, Tether Distribution and Liquidity • SEC Rejects Proposal for Spot Bitcoin Exchange Traded Fund • US and Canadian Authorities Pursue Fraud Schemes, Recover Stolen Crypto Raising Municipal Funds and Rewarding … Continue Reading

Crypto Payment Products Launch; SEC Addresses DeFi, Targets DAO Tokens; OFAC Adds Crypto Exchange to SDN List; Crypto Fraud Schemes Revealed

By Robert A. Musiala, Kayley Sullivan, Joanna F. Wasick, Veronica Reynolds and Keith R. Murphy on November 12, 2021 Posted in Bitcoin, Blockchain, Cryptocurrency, Cybersecurity, Enforcement, Securities & Exchange Commission

• New Crypto Payment Products Launch, Report Cites Exchange Consolidation • SEC Commissioner Publishes Article Addressing DeFi Risks and Regulation • OFAC Adds Crypto Exchange and Cryptocurrency Addresses to OFAC SDN List • Enforcement Agencies Target DAO Offering and Fraudulent Crypto Companies • New Cryptocurrency Fraud Schemes Revealed, DeFi Protocol Hacked New Crypto Payment Products … Continue Reading

Financial Firms Integrate Crypto Offerings; Congressmen Address Bitcoin ETFs; NFT Boom Continues; Agencies Seek Crypto Oversight; Crypto Hacker Indicted

By Robert A. Musiala, Jordan R. Silversmith, Joanna F. Wasick, Lauren Bass, Keith R. Murphy and Elyssa S. Kates on November 5, 2021 Posted in Bitcoin, Cryptocurrency, Government, NFT, NFTs, Securities & Exchange Commission

• Traditional Financial Firms Integrate Crypto Services, CBDC Reports Published • Congressmen Advocate for Bitcoin Spot ETFs, Australia Issues Crypto ETP Regs • Sports Franchises and Music Platforms Continue to Embrace NFTs • Government Agencies Argue for Increased Oversight of Cryptocurrency Markets • DOJ Charges Cryptocurrency Hacker, Decentralized Exchange Hacked for $139M Traditional Financial Firms … Continue Reading

Financial Firms Integrate Crypto, NFT Market Expands, Blockchain Pilots Launch, FATF Publishes New Crypto Guidance, Crypto Enforcement Actions Continue

By Robert A. Musiala, Veronica Reynolds, Lauren Bass, Joanna F. Wasick and Keith R. Murphy on October 29, 2021 Posted in Bitcoin, Blockchain, Cryptocurrency, NFTs, Platforms

• Financial Firms Integrate Crypto Products, New Bitcoin Network Data Published • From Digital Art to Alcohol: The NFT Marketplace Continues to Expand • Blockchain Pilots Launch in News Data, Satellite Networks and Trade Finance • FDIC Chair Addresses Crypto, FATF Publishes Updated Crypto AML Guidance • Global Agencies Target Darknet Market; CFTC Investigates Crypto … Continue Reading

Crypto Initiatives Launch in Payments, Capital Markets and NFTs; OFAC and White House Address Crypto Risks; CFTC and NYAG Take Enforcement Actions

By Robert A. Musiala, Keith R. Murphy, Lauren Bass and Kayley Sullivan on October 22, 2021 Posted in Blockchain, Cryptocurrency, Enforcement, NFTs, Platforms, Ransomware

• Blockchain Payment Pilots Launched by Media, Government and Crypto Firms • Blockchain Market Advances in Options, ATS Platforms, Commodities and DeFi • New Platforms Launch NFT Collections • OFAC and White House Address Cryptocurrency Industry Risks • CFTC and NYAG Enforcement Actions Target Cryptocurrency Exchanges Blockchain Payment Pilots Launched by Media, Government and Crypto … Continue Reading

Crypto Financial Products Launch; G7 Addresses CBDCs; SEC Commissioners and Foreign Regulators Address Crypto; ICO Founders Plead to Tax Evasion

By Veronica Reynolds, Robert A. Musiala, Joanna F. Wasick, Keith R. Murphy and Jordan R. Silversmith on October 15, 2021 Posted in Bitcoin, Blockchain, Cryptocurrency, Cybersecurity, ICOs, Securities & Exchange Commission, Uncategorized

• Crypto Products Launch in Payments, ETFs, DeFi; Bitcoin Mining Data Published • G7 Considers Impact of CBDCs in New Publications • Blockchain Solutions Launch in B2B Software; Cobalt and Leather Supply Chains • SEC Commissioners Address Crypto Market Regulation in Contrasting Speeches • Foreign Regulators Address Crypto Advertising, Mining and Ransomware • ICO Founders … Continue Reading

Market Updates in CBDCs, Crypto Funds, BD-ATS Platforms and Stablecoins; DOJ and CFTC Enforcement Continues; DeFi Error Releases Millions in Crypto

By Robert A. Musiala, Veronica Reynolds, Kayley Sullivan, Lauren Bass, Keith R. Murphy and Jordan R. Silversmith on October 1, 2021 Posted in Banking, Bitcoin, Cryptocurrency, Enforcement, Global, Government, NFTs

In this issue: • CBDCs Explored by the U.K., New Zealand and Major Payments Network • New Products Launch in Crypto Funds, BD-ATS Platforms and Stablecoins • Fashion, Sports, Graphic Novels and Art: NFT Market Continues to Expand • Crypto Enforcement: DOJ and CFTC Target Sanctions and Registration Violations • DeFi Error Releases Millions in … Continue Reading

Market Initiatives Announced in Crypto Compliance, Digital Asset Exchange, Blockchain Enterprise Solutions and NFTs; SEC Chairman Comments on Crypto

By Robert A. Musiala, Kayley Sullivan, Veronica Reynolds and Keith R. Murphy on September 17, 2021 Posted in Bitcoin, Blockchain, Cryptocurrency, Enforcement, NFTs, Securities & Exchange Commission

• US Firm Acquires Crypto Co., Swiss Digital Asset Exchange Gains License • Enterprise Firms Announce Polygon Integration and Shipping Data Solution • NFT Sells for Record $1.1M, NFT Marketplace Exec Accused of Insider Trading • SEC Chairman Comments on Crypto Market in Senate Committee Speech • US Crypto Exchange Files with NFA, UK FCA … Continue Reading