Archives: Blockchain

CBDC Initiatives Announced Across Globe, US Crypto Firms Pursue Licenses and Form Lobbying Groups, DOJ Targets Unlicensed Crypto MSB

In this issue: • Central Bank Digital Currencies Explored in Thailand, Japan and Sweden • US Crypto Firm Seeks Clearing Agency License, New Lobbying Group Formed • DOJ Targets Unlicensed Bitcoin Money Transmitter, ICO Extortion Scheme Central Bank Digital Currencies Explored in Thailand, Japan and Sweden By: Veronica Reynolds According to a recent press release, … Continue Reading

Financial Firms Move to Integrate Cryptocurrencies, Blockchain Solutions Announced Across Markets, Agencies Target Crypto Crimes as Threats Continue

By Veronica Reynolds, Robert A. Musiala, Teresa Goody Guillén and Jordan R. Silversmith on February 12, 2021 Posted in Blockchain, Cryptocurrency, Ransomware

In this issue: • Payment Firms Adopt Cryptocurrencies, Company Purchases $1.5 Billion in Bitcoin • Blockchain Enterprise Initiatives Announced Across Global Markets • US and Foreign Agencies Take Action Against Cryptocurrency Fraud Schemes • Report Details North Korea Links to Crypto Hacks, Ransomware Connections Payment Firms Adopt Cryptocurrencies, Company Purchases $1.5 Billion in Bitcoin By: … Continue Reading

Podcast: BakerHostetler Blockchain University: Beyond Cryptocurrency – Non-Financial Use Cases for Blockchain

By Robert A. Musiala and Veronica Reynolds on February 3, 2021 Posted in Blockchain, Cryptocurrency

The fourth episode in the series provides an overview of how Blockchain is being used today in non-financial applications. Topics discussed include using blockchain in various sectors, including the food supply and pharmaceutical industries, maritime shipping, the cobalt supply chain, self-sovereign identity, credentialing and records management. Questions & Comments: rmusiala@bakerlaw.com, vreynolds@bakerlaw.com Listen to the episode. Subscribe to … Continue Reading

NY DFS Approves New Stablecoin Co., Blockchain Data Solutions Announced, New Cryptocurrency Regulatory and Enforcement Actions in U.S. and Abroad

By Jordan R. Silversmith, Teresa Goody Guillén, Veronica Reynolds and Joanna F. Wasick on January 8, 2021 Posted in Blockchain, Cryptocurrency

In this issue: • NY DFS Approves New Stablecoin Company, Crypto Financial Products Continue Growth • Blockchain Used To Enhance Auto Geofencing and Combat Whiskey Fraud • US Financial Regulators Continue Crypto-Focused Regulatory Proposals • OFAC Settles With Crypto Custodian; Enforcement Actions in UK, Italy, Iran NY DFS Approves New Stablecoin Company, Crypto Financial Products … Continue Reading

FinCEN Proposes New Crypto Record-Keeping Rules; SEC and CFTC Issue Digital Asset Guidance; SEC Closes 2020 With Multiple Enforcement Actions Against Blockchain Firms

By Robert A. Musiala on January 5, 2021 Posted in Blockchain, Cryptocurrency, Enforcement

In this issue: • FinCEN Proposed Rule Creates New Cryptocurrency Record-Keeping Requirements • SEC Issues Statement on Digital Asset Custody, CFTC Issues Digital Assets Primer • SEC Closes 2020 With Multiple Blockchain Industry Enforcement Actions FinCEN Proposed Rule Creates New Cryptocurrency Record-Keeping Requirements By: Robert A. Musiala Jr. On Dec. 18, 2020, the Financial Crimes … Continue Reading

Canadian Ether Fund Launches, Swiss Bank Tokenizes Shares, Crypto Regulation Evolves in UK, Estonia and Germany; Blockchain Solutions Launch for Wine, Royalties, Clothing

By Joanna F. Wasick, Robert A. Musiala and Jordan R. Silversmith on December 18, 2020 Posted in Blockchain

In this issue: • Canadian Ether Fund Launches, Swiss Bank Tokenizes Shares, New German Law Passed • Blockchain Solutions Launch in Wine, Royalties Management and Clothing Industries • UK and Estonia Take Diverging Approaches to Crypto Registration, Dark Market Seized Canadian Ether Fund Launches, Swiss Bank Tokenizes Shares, New German Law Passed By: Joanna F. … Continue Reading

Telegram: Deconstructing One of the Biggest Blockchain Cases of 2020

By Robert A. Musiala, John Harrington, Teresa Goody Guillén, Adam Gale, Jonathan A. Forman and Veronica Reynolds on December 14, 2020 Posted in Blockchain

The Telegram case is arguably the most important case of 2020 involving the legal classification of blockchain-based digital assets. Because it is often cost-prohibitive for companies to challenge the government in court, the Telegram litigation offered a unique opportunity for the parties to present arguments on several complex legal issues. Given the lack of judicial … Continue Reading

Traditional and Crypto Firms Across Globe Launch New Initiatives, UN Designs Blockchain Land Registry, Privacy Wallets Spark Debate, Crypto Enforcement Continues

By Veronica Reynolds, Robert A. Musiala, Jordan R. Silversmith, Marc Powers and Teresa Goody Guillén on December 11, 2020 Posted in Blockchain, Cryptocurrency, Tax

In this issue: • Cryptocurrency Firms and Legacy Financial Instituadingtions Worldwide Make Crypto Moves • Traditional and Crypto Firms Partner to Launch Tokenized Stocks and Other Products • UN Designs Blockchain Land Registry; Solutions Address Supply Chain, Energy Efficiency • Crypto Privacy Wallets Spark Debate, Blockstack Says STX Will Shed Security Status • U.S. and … Continue Reading

US Credit Card Company to Integrate USDC, SEC No-Action Letter Addresses ERC20 Token, Tax Bodies Address Crypto, US and State Enforcement Continues

By Jordan R. Silversmith, Teresa Goody Guillén, Robert A. Musiala and Joanna F. Wasick on December 4, 2020 Posted in Bitcoin, Blockchain, Cryptocurrency

In this issue: • Credit Card Company to Integrate USDC Payments, 401(k) Advisor Integrates Bitcoin • SEC Issues No-Action Letter on Digital Assets, Second Addresses ERC20 Token • FinHub Role Expands, Foreign IPO and Lending Service Integrates Crypto • Tax Bodies Address Cryptocurrencies, Exchanges React to Evolving Landscape • US and State Enforcement Agencies Take … Continue Reading

New Crypto Payment Services Launch; Blockchain Pilots Announced for Agriculture, Textile, Seafood Supply Chains; DeFi Project Hacked for $7 Million

By Joanna F. Wasick, Robert A. Musiala and Jordan R. Silversmith on November 20, 2020 Posted in Bitcoin, Blockchain, Cryptocurrency

In this issue: • New Crypto Payment Services Launch, Bitcoin ATM Firm Asserts Patent Rights • Blockchain Pilots Announced in the Agricultural, Textile and Seafood Industries • Spanish Police Target Crypto Front Company, DeFi Project Hacked for $7 Million New Crypto Payment Services Launch, Bitcoin ATM Firm Asserts Patent Rights By: Joanna F. Wasick Late … Continue Reading

Podcast: BakerHostetler Blockchain University: What You Need to Know About the Most Common Blockchain Networks

By Robert A. Musiala and Jordan R. Silversmith on November 19, 2020 Posted in Blockchain

The third episode in the series focuses on the differences and similarities between the Ethereum Network, HyperLedger, and other key blockchain networks. Topics discussed include smart contracts, public versus private blockchains, distributed autonomous organizations (DAOs), blockchain “forks” and more. Questions & Comments: rmusiala@bakerlaw.com, jsilversmith@bakerlaw.com Listen to the episode. Download Episode Transcript Subscribe to BakerHosts Apple Podcast | Google Podcast | iHeartRadio | Spotify | Stitcher | TuneIn… Continue Reading

Ethereum Upgrade and Blockchain Identity Solutions Progress, SEC Addresses Digital Asset Custody, Data Published on ICO Penalties and Crypto Crimes

By Jordan R. Silversmith, Robert A. Musiala and Veronica Reynolds on November 13, 2020 Posted in Blockchain, Cryptocurrency, ICOs

In this issue: • Ethereum 2.0 Moves Closer to Launch, Blockchain Identity Solutions Announced • SEC Addresses Digital Asset Custody, Crypto Firms Achieve Licenses/Certs • Crypto Fraudster Sentenced, Data on ICO Penalties and Crypto Crimes Published Ethereum 2.0 Moves Closer to Launch, Blockchain Identity Solutions Announced By Jordan R. Silversmith After having launched last week, … Continue Reading

US Crypto Debit Card Launches, Cayman Islands Announces VASP Regulations, Enterprise Developments in Telecom and Transport, DOJ Seizes $1 Billion in Bitcoin

By Joanna F. Wasick, Robert A. Musiala and Jordan R. Silversmith on November 6, 2020 Posted in Blockchain, Cryptocurrency

In this issue: • US Crypto Debit Card Launches, Cayman VASP Regs Announced, INX to List in Canada • Blockchain Developments in Telecommunications, Transportation and Digital Identity • DOJ Seizes $1 Billion in Bitcoin from Silk Road, DOJ and CFTC Prosecute Crypto Fraud US Crypto Debit Card Launches, Cayman VASP Regs Announced, INX to List … Continue Reading

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

By Robert A. Musiala, Jordan R. Silversmith and Joanna F. Wasick on October 30, 2020 Posted in Blockchain, Cryptocurrency

In this issue: • US Bank and Trust Companies Move Forward with Cryptocurrency Services • Cryptocurrency Debit Cards Launch in the United States and Mexico • Blockchain Developments in Protocols, Healthcare, Copyrights, E-Signatures, IoT • Enforcement Actions Target Crypto SIM Swapping and Ponzi Schemes US Bank and Trust Companies Move Forward with Cryptocurrency Services By: … Continue Reading

Major U.S. Firm Offers Cryptocurrency Services, Blockchain Solutions Launch Across Industries, CFTC Issues Crypto Guidance, FinCEN Fines Tumbler Service

By Robert A. Musiala, Teresa Goody Guillén and Joanna F. Wasick on October 23, 2020 Posted in Blockchain, Cryptocurrency, Supply Chain

In this issue: • Major U.S. Payments Firm Launches Cryptocurrency Service as Adoption Grows • Blockchain Supply Chain, Copyright and Satellite Comms Solutions Launch • CFTC Guidance Addresses Crypto Deposits, Travel Rule White Paper Published • Arrests Target Criminal Network Using Crypto, FinCEN Fines Tumbler Operator Major U.S. Payments Firm Launches Cryptocurrency Service as Adoption … Continue Reading

BakerHostetler Blockchain University: Podcast Series

By Robert A. Musiala on October 19, 2020 Posted in Bitcoin, Blockchain

What is Blockchain and Why Should I Care? Blockchain technology is widely anticipated to disrupt major industries and business operations over the next several years. But with all of the “hype” in the blockchain market, at times it can be difficult to separate fact from fiction and identify the real value in this new technology. … Continue Reading

US Firms Invest in Bitcoin; Blockchain Consortia Expand; Industry and Regulators Address Tech Standards, CBDCs, Crypto Investments, Enforcement, Stablecoins, Taxes

By Joanna F. Wasick, Jordan R. Silversmith and Robert A. Musiala on October 16, 2020 Posted in Bitcoin, Blockchain, Tax

In this issue • Fintech Firm Brings $50 Million BTC on to Balance Sheet, Major CBDC Report Published • US Firms Announce Crypto Investment Initiatives, Crypto Fundraising Report Published • Blockchain Consortia Expand, Reports Detail Blockchain Standards and Economic Impact • US and Foreign Guidance Addresses Crypto Enforcement, Stablecoins, Taxes and More Fintech Firm Brings … Continue Reading

OCC Clarifies Status of Stablecoins, US Agencies Procure Blockchain Applications, Solutions Launch on Hedera Hashgraph and VeChain, DOJ Targets Darknet Markets

By Jordan R. Silversmith, Joanna F. Wasick, Veronica Reynolds and Robert A. Musiala on September 25, 2020 Posted in Blockchain, Food Supply Chain, Supply Chain

In this issue: • OCC Clarifies Status of Stablecoins, Registration Statement Filed for Network Token • US Government Procures Blockchain Solutions, Blockchain Patent Study Published • Hedera Hashgraph Transactions Pass Ethereum, VeChain Supports Food Traceability • DOJ Announces Major Enforcement Action Against Darknet Markets OCC Clarifies Status of Stablecoins, Registration Statement Filed for Network Token … Continue Reading

U.S. Crypto Exchange Approved as Wyoming Bank; Firms Integrate Blockchain for Data Management; Multiple Enforcement Actions by Treasury, SEC, DOJ and CFTC

By Robert A. Musiala, Jordan R. Silversmith and Marc Powers on September 18, 2020 Posted in Blockchain, Cryptocurrency, ICOs, Securities & Exchange Commission

In this issue: • U.S. Crypto Exchange Approved as Wyoming Bank, MSB Regulations to be Simplified • Auto, Mining and Financial Firms Integrate Blockchain for Data Management • OFAC, DOJ, IRS and FATF Take Various Actions Against Cryptocurrency Crimes • SEC Charges ICO Issuers, DOJ and CFTC Charge Defendants in Crypto Fraud Schemes • DOJ, … Continue Reading

CBDC Test Platform Launches, Crypto Adoption Report Published; Air Force Awards Contract to Study Blockchain Applications; Past Bitcoin Code Vulnerabilities Disclosed

By Robert A. Musiala, Jordan R. Silversmith and Joanna F. Wasick on September 11, 2020 Posted in Bitcoin, Blockchain, Cryptocurrency

In this issue: • CBDC Testing Platform Launches, Crypto Adoption and Bitcoin Payment Options Grow • Air Force Awards Contract to Study Blockchain, Retailer Reports Successful Invoice Pilot • Hackers Demand $4 Million Bitcoin Ransom, Past Bitcoin Code Vulnerabilities Disclosed CBDC Testing Platform Launches, Crypto Adoption and Bitcoin Payment Options Grow By: Robert A. Musiala … Continue Reading

IRS Addresses Crypto Micropayments, Blockchain Shipping Platforms Expand, DOJ Ties North Korea Crypto Hacks to Chinese Traders, FBI Thwarts Plot Involving Bitcoin Bribe

By Robert A. Musiala, Joanna F. Wasick, Teresa Goody Guillén and Jordan R. Silversmith on September 4, 2020 Posted in Bitcoin, Blockchain, Cryptocurrency

In This Issue: • IRS Addresses Taxing Crypto Received in Microtasks, Swiss Enable Crypto Payments • Blockchain Shipping Platforms TradeLens and ShipChain Expand Networks • North Korean Crypto Hacks Laundered by Chinese; Crypto Compliance Tools Launch • FBI Thwarts Plot Tied to Bitcoin Bribe, Ethereum Classic Suffers 51% Attack IRS Addresses Taxing Crypto Received in … Continue Reading

IPO Using ERC20 Tokens Approved, Report Details APAC Bitcoin Trading Data, Quorum Is Sold/Acquired, Blockchain Initiatives for Coffee and NASA, Crypto Crimes Continue

By Robert A. Musiala, Veronica Reynolds and Joanna F. Wasick on August 28, 2020 Posted in Bitcoin, Blockchain, Cryptocurrency

In this issue: • Blockchain Used in IPO and ATS, Bitcoin Fund Announced, APAC Trade Data Published • Quorum Acquisition Announced, Blockchain Initiatives Launch for Coffee and NASA • Crypto Crimes Continue in Ransomware, Fraud, Wash Trading and Tax Evasion Schemes Blockchain Used in IPO and ATS, Bitcoin Fund Announced, APAC Trade Data Published By: … Continue Reading

Federal Reserve Addresses Digital Currencies, Financial Firms Announce Crypto Initiatives, Blockchain Solutions Announced, Enforcement Actions in US and Ukraine

By Robert A. Musiala and Jordan R. Silversmith on August 21, 2020 Posted in Blockchain, Cryptocurrency, Supply Chain

In this issue: • Federal Reserve Addresses CBDCs Amid Crypto Initiatives by US and Foreign Firms • Blockchain Initiatives Announced in Supply Chain, Voting, Ports and Collaborations • Crypto Enforcement Announced by SEC, DOJ, and Texas, Alabama and Ukraine Agencies Federal Reserve Addresses CBDCs Amid Crypto Initiatives by US and Foreign Firms By: Robert A. … Continue Reading

Market Developments in Stablecoins, Crypto Loans, Metals/Minerals Supply Chains and More; NY DFS Publishes Crypto “Greenlist”; DOJ Seizes Crypto Used in Terror Scheme

By Veronica Reynolds, Robert A. Musiala and Joanna F. Wasick on August 14, 2020 Posted in Blockchain, Cryptocurrency, Food Supply Chain

In this issue: • Market Actors Focus on Stablecoins, Crypto-Backed Loans and Real Estate Transactions • Blockchain Announcements in Metals/Minerals, Shipping and Food Supply Chains • NY DFS Publishes Crypto Greenlist, European Guidance Addresses Accounting/Evidence • US DOJ Announces Massive Seizure of Cryptocurrency Related to Terrorist Financing Market Actors Focus on Stablecoins, Crypto-Backed Loans and … Continue Reading