On June 7, Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) introduced S. 4356, the Responsible Financial Innovation Act (Lummis-Gillibrand Bill). If enacted, the legislation would create a regulatory framework for federal oversight of digital assets. In a jointly authored blog post published in conjunction with the introduced bill, Senators Lummis and Gillibrand warned that … Continue Reading
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
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
On May 3, the U.S. Securities and Exchange Commission (SEC) announced the expansion of its Crypto Assets and Cyber Unit (the Unit f/k/a the Cyber Unit) to 50 staff members, nearly double the Unit’s former size, including supervisors, investigative staff attorneys, trial counsel and fraud analysts. The Unit is a group within the Division of … Continue Reading
Answering the call for guidance regarding potential issues concerning the popular cryptocurrency assets NFTs, on April 28, the J5 issued a first-of-its-kind intelligence bulletin warning the public of the dangers of dealing with NFTs. Titled the “J5 NFT Marketplace Red Flag Indicators,” the bulletin provides real-world guidance to banks, law enforcement partners and private investigators … Continue Reading
In this issue: • Crypto Pilots Launch in Social Media, 401(k) Plans and Municipal Bitcoin Mining• NBER Publishes Paper Analyzing Bitcoin Usage in El Salvador• Brands Enter NFT Market Across Industries, New NFT Platforms Launch• Crypto Firm Enters AML Consent Order; Stablecoins and Wallets in Focus• Foreign Governments Publish New Crypto Legislation and Policy Papers• … Continue Reading
In this issue: • Sports Teams and Messaging Apps Go All-In on NFTs, Potential Hack Foiled• Report on Blockchain in the European Healthcare Sector Published• US Treasury Secretary, FDIC, Acting Comptroller and EU Address Crypto• State Enforcement Actions Target Bitcoin ATM Operator and NFT Sellers Sports Teams and Messaging Apps Go All-In on NFTs, Potential … Continue Reading
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
The two individual defendants in the Ripple case, Bradley Garlinghouse and Christian A. Larsen, suffered a setback this week when the court denied their motions to dismiss. Judge Analisa Torres, District Court judge for the Southern District of New York, ruled that the United States Securities and Exchange Commission (SEC) had adequately pleaded that the … Continue Reading
On March 9, 2022, President Joe Biden signed the Executive Order on Ensuring Responsible Development of Digital Assets (EO) and the White House released a corresponding fact sheet summarizing related key policy objectives. As discussed in more detail here, this is a landmark moment for the U.S. cryptocurrency market. … Continue Reading
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
In This Issue Financial Services Firms Make Moves Targeting Cryptocurrency Markets POC Seeks to Defend Quantum Attacks; DAO Hacker Reportedly Identified Music Company Partners with NFT Platform, Record Label Converts to NFT Label DOJ Names New Crypto Enforcement Director; Scammers Target NFT Market… Continue Reading
The Securities and Exchange Commission (“SEC”) recently issued a request for information and public comment on the use of new and emerging technologies by investment advisers and broker-dealers that suggests potential regulatory action to come.[1] According to its release, the SEC is seeking to understand how registrants — whether online brokerages, robo-advisers, internet investment advisers, … Continue Reading
In this issue: •Crypto Market Develops in DeFi, Payments, Compliance and Consumer Adoption • Market Navigation, Fashion Metaverse, Online Tutorials: NFT Adoption Continues • Crypto Compliance Addressed by CFTC, Thai SEC, South Korea and UK FCA • SEC, DOJ and Ontario Securities Commission Bring Crypto Enforcement Actions • Reports Released on Crypto Scams and Malware, … Continue Reading
In this issue: • Crypto Firms Pursue Bank Charters, Traditional Financial Firms Integrate Crypto • CBDC and Blockchain Remittance Initiatives Launch Across Foreign Markets • Blockchain Supply Chain Initiatives Launch Across Various Industries • SEC Charges DeFi Company and Digital Asset Exchange Platform • FinCEN Settles Enforcement Action Against Major Cryptocurrency Exchange • Senate Passes … Continue Reading
In a speech before the Aspen Security Forum on August 3, 2021, Securities and Exchange Commission (“SEC” or “Commission”) Chair Gary Gensler urged lawmakers to provide him with the power to police cryptocurrency trading, referring to it as the “Wild West.”[1] While he noted that the views he was sharing were his own and not … Continue Reading
In this issue: • Cryptocurrency Exchanges, ETFs and Payment Initiatives Announced • Hollywood, Paradise and Banking: NFT Use Cases Continue to Expand • Bitcoin Network Mining Difficulty Adjusts in Wake of China Crackdown • DOJ, CFTC and SEC Target Crypto Fraud, Registration, Anti-Touting Violations • US Ransomware Task Force Announced, Crypto Crimes Continue Across Globe … Continue Reading
In this issue: • NFT Initiatives Continue, Cryptocurrency Advertising Restrictions Ease • Blockchain Traceability Solutions Expand in Food, Shipping and Jewelry Sectors • SEC Settles ICO Fraud, US Crypto Enforcement Reaches $2.5 Billion • Regulators in Canada, UK and Portugal Address Cryptocurrency Market • China Crypto Crackdown Continues, South Korea Seizes Tax Evader Crypto NFT … Continue Reading
In this issue: • Reports Address CBDCs and Security Tokens, Banks Launch Crypto Initiatives • NFT Sales Continue at Auction House, US Space Force and News Organization • Blockchain Initiatives Announced in Food, Automotive and IP Sectors • US Congress Members and Foreign Regulators Pursue Cryptocurrency Reforms • SEC Charges ICO Fraud, SEC/CFTC Warn Bitcoin … Continue Reading
In this issue: • Bank Offers Ether-Backed Loans, Auction and Property Sales Accept Crypto • Supply Chains Innovate with Blockchain, China Launches Copyright Blockchain • CFTC and WEF Comment on DeFi, Basel Addresses Cryptoasset Exposure • Texas Enacts New Blockchain Law, El Salvador Makes Bitcoin Legal Tender • DOJ Seizes Bitcoin from Ransomware Attack as … Continue Reading
In this issue: • BD-ATS to Issue Blockchain Securities, Crypto Hedge Fund Report Published • NFTs and Loyalty Tokens Launch, Regulators Target Crypto Ads as Scams Spike • Nebraska Passes Digital Asset Bank Charter, Tax Case Addresses Crypto Mining • China and Hong Kong Implement New Crypto Regulation, Iran Halts Mining • Report Provides New … Continue Reading
In this issue: • Reports Analyze Bitcoin Price Crash and Network Energy Consumption • SEC Petitioned on NFTs, NFT Platform Sued in Class Action as More NFTs Launch • FDIC Seeks Info on Crypto, FATF Focuses on DeFi, Payment Solutions Announced • Reports Cover Pipeline Ransomware, Crypto Schemes and DeFi Hacks Reports Analyze Bitcoin Price … Continue Reading
In this issue: • Market Actors Continue to Integrate Cryptocurrency into Payment Systems • US Firms Launch Bitcoin Investment Products and Enhance Crypto Offerings • Auction Houses Continue with NFT Sales, Dictionary Adds ‘Non-Fungible Token’ • SEC Staff Statement Addresses Risks and Monitoring of Bitcoin Futures Funds • Report Provides Data on SEC Cryptocurrency Enforcement … Continue Reading