Archives: Blockchain

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Fintech Firms Pursue DeFi, CBDC Initiatives; Blockchain Integrations Announced; IRS Trains Ukraine on Crypto; FATF Voices Crypto AML Concerns

By Robert A. Musiala, Amos Kim, Christopher Lamb and Joanna F. Wasick on May 22, 2023 Posted in Blockchain

In this issue: • Product Integrations and Data Indicate Increased Interest in DeFi• Fintech Firms and BIS Pursue CBDC Initiatives• Blockchain Applications Announced for DAO Voting, Oracles and Data Security• SEC Brings Crypto Fraud Charges, IRS Trains Ukraine on Crypto Investigations• FATF Chief Urges End to ‘Lawless Crypto Space’ Product Integrations and Data Indicate Increased … Continue Reading

ETH Staking Data Published; Blockchain Solutions Launch; NY AG Proposes Crypto Legislation; UK Targets Crypto ATMs; Crypto Hack Schemes Reported

By Robert A. Musiala, Christopher Lamb, Amos Kim, Keith R. Murphy and Christina Gotsis on May 15, 2023 Posted in Blockchain

In this issue: • ETH Staking Data Published, Blockchain Solutions Launch for Financial Services• New York Attorney General Proposes New Legislation for Crypto Industry• UK Authorities Target Illegal Crypto ATMs• Reports Detail Crypto Malware, Phishing and Hacked Exchange Accounts ETH Staking Data Published, Blockchain Solutions Launch for Financial Services By Christopher Lamb According to a … Continue Reading

New Crypto Payment and Web3 Products Launch; UK Seeks Input on DeFi Taxation; OFAC Fines Crypto Exchange; SEC, DOJ, CFTC Continue Enforcement

By Robert A. Musiala, Keith R. Murphy and Lauren Bass on May 8, 2023 Posted in Blockchain

In this issue: • Multiple Financial Services Firms Announce New Crypto Products• Mutual Fund Integrates with Polygon, US Exchanges Launch Offshore Platforms• Web3 Initiatives Launch for NFT Ticketing, Protocol Infrastructure• UK Seeks Input on Proposed Modifications to Tax Rules Applicable to DeFi• OFAC Announces $7.6 Million Settlement with Crypto Exchange• SEC and State Securities Regulators … Continue Reading

ETH Staking Data Published; USDC Transfer Protocol Launches; OFAC Adds Public Keys to SDN List; DOJ Targets Crypto Market Manipulation

By Robert A. Musiala, Joanna F. Wasick, Christopher Lamb and Amos Kim on May 1, 2023 Posted in Blockchain

In this issue: • ETH Staking Data Published, USDC Cross-Chain Transfer Protocol Launches• IRS Modifies 2014 Virtual Currency Guidance• OFAC Adds 20 Cryptocurrency Public Keys to SDN List• DOJ Actions Target Crypto Market Manipulation and Money Laundering ETH Staking Data Published, USDC Cross-Chain Transfer Protocol Launches By Joanna F. Wasick New data reflects that the … Continue Reading

CBDC Pilot Announced; Ethereum Upgrade Completed; U.S. Treasury Department Addresses DeFi Risks; Studies Analyze Crypto Taxation, Crime; Hacks Continue

By Robert A. Musiala, Joanna F. Wasick, Keith R. Murphy, Christopher Lamb and Lauren Bass on April 17, 2023 Posted in Blockchain

In this issue: • Montenegro Announces CBDC Pilot, BIS Compares CBDCs to Stablecoins• Ethereum Network Completes ‘Shanghai’ Upgrade• U.S. Treasury Publishes DeFi Risk Assessment; Banque De France Analyzes DeFi• Study Analyzes 2022 Crypto Tax Compliance Across Various Countries• EU Report Analyzes Cryptocurrency Use on Darknet Markets• Hackers Drain Millions from Crypto Exchanges and DeFi Protocol … Continue Reading

U.S. Exchange Closes, Swiss Bank Expands Crypto Offerings; NFA Issues Digital Asset Commodities Rule; Crypto Enforcement Continues; Market Data Published

By Robert A. Musiala, Joanna F. Wasick, Keith R. Murphy and Christopher Lamb on April 10, 2023 Posted in Blockchain

In this issue:• Crypto Exchange Ends U.S. Operations, Swiss Bank to Expand Crypto Offerings• National Futures Association Rule Addresses Digital Asset Commodity Activities• DOJ, Courts and State Securities Regulators Cripple Cryptocurrency Frauds• Cryptocurrency Crime and Anti-Money Laundering Report Published Crypto Exchange Ends U.S. Operations, Swiss Bank to Expand Crypto Offerings By Joanna F. Wasick Late … Continue Reading

Zero Knowledge EVMs Launch; U.S. Central Bank Publishes Custodia Denial Order; CFTC Charges Binance Exchange; SEC, DOJ Bring Enforcement Actions

By Robert A. Musiala, Lauren Bass, Christopher Lamb and Christina Gotsis on April 3, 2023 Posted in Blockchain

In this issue:• “Z” Doors Are Open: Rival Zero Knowledge EVMs Launched by Matter, Polygon• U.S. Central Bank Publishes Order Denying Custodia Bank Application• CFTC Charges Binance Alleging Numerous Commodity Exchange Act Violations• SEC Charges Crypto Exchange; DOJ Charges Crypto ATM; Do Kwon Arrested “Z” Doors Are Open: Rival Zero Knowledge EVMs Launch By Lauren … Continue Reading

New Initiatives Launch in Staking, DeFi, DAOs; IRS Issues NFT Guidance; White House Report Criticizes Crypto; SEC and DOJ Crypto Enforcement Continues

By Robert A. Musiala, Christopher Lamb, Nicholas C. Mowbray, Joanna F. Wasick, Keith R. Murphy and Lauren Bass on March 27, 2023 Posted in Blockchain

In this issue: • Staking Market Launches, ‘Defi Cover’ Data Published, DAO Buys Golf Course• IRS Issues Guidance on Non-Fungible Tokens• Economic Report of the President Criticizes Digital Assets• SEC Charges Crypto Entrepreneur and Celebrities; DOJ Targets Crypto Fraudster• U.S. Crypto Exchange Receives SEC Wells Notice, Publishes Staking Analysis• Moscow Money Mules and Hackers: Digital … Continue Reading

NFTs Used to Serve Complaint; Treasury Official, SEC Chairman Address Crypto Compliance; NYAG Sues Crypto Exchange; DOJ Takes Down Crypto Mixer

By Robert A. Musiala, Christopher Lamb and Joanna F. Wasick on March 20, 2023 Posted in Blockchain

In this issue:• NFT Integration Software Released; NFTs Used to Serve Complaint in Civil Action• US Treasury Official Signals Forthcoming DeFi Illicit Finance Risk Assessment• SEC Chairman Comments on Crypto Activities, NYAG Sues Crypto Exchange• US and International Law Enforcement ‘Takedown’ Crypto Mixing Service• Hackers Use ‘Flash Loan Attack’ to Steal $199 Million from DeFi … Continue Reading

Australia and BIS Address CBDCs; OCC, PCAOB and U.S. Senators Address Crypto Risks; SEC, DOJ and USSS Continue Crypto Enforcement Actions

By Robert A. Musiala, Amos Kim, Keith R. Murphy, Joanna F. Wasick and Lauren Bass on March 13, 2023 Posted in Blockchain

In this issue: • Reserve Bank of Australia and BIS Commence Efforts to Advance CBDCs• Acting Comptroller of the Currency and PCAOB Address Crypto Risks• Binance and Binance.US Face Inquiry from U.S. Senators• SEC and DOJ Continue Enforcement Actions Targeting Crypto Fraud Schemes• Bitcoin ATM Operators Arrested, Charged with Criminal Violations Reserve Bank of Australia … Continue Reading

New ERC-4337 Standard Released; US Bank Regulators, G20, IMF and OSC Address Crypto Risks; DeFi Hack Victims Regain Crypto Via Code Exploit

By Robert A. Musiala, Christopher Lamb, Amos Kim and Christina Gotsis on March 6, 2023 Posted in Blockchain

In this issue:• New ERC-4337 Smart Contract Standard Released to Enhance Wallet Security• US Federal Bank Regulators Issue Joint Statement on Crypto Liquidity Risks• G20 Announces Forthcoming Reports Addressing Global Crypto Regulation• IMF Addresses Crypto Policy; OSC Issues Notice for Crypto Trading Platforms• DeFi Hack Victims Exploit Code Vulnerability to Regain Control of Hacked Crypto … Continue Reading

PoS Principles Published; Crypto Market Analysis and POC Announced; Court Interprets NFTs Under Howey; SEC, CFTC and DOJ Continue Crypto Enforcement

By Robert A. Musiala, Amos Kim, Christopher Lamb, Keith R. Murphy and Joanna F. Wasick on February 27, 2023 Posted in Blockchain

In this issue:• Proof of Stake Alliance Publishes Analysis, Advocates for Industry Standards• BIS Analyzes Crypto Market Data, Digital Asset PoC and Consultation Announced• U.S. District Court Denies Motion to Dismiss Claims that NFTs Are Securities• SEC and CFTC Actions Pursue Crypto Misrepresentation and Fraud Actions• DOJ and New York State Actions Target Crypto Fraud … Continue Reading

DeFi Protocols Announce Updates; FSB Addresses DeFi Risks; Museum to Host NFT Exhibit; Crypto Enforcement Continues; Crypto Crime Reports Published

By Robert A. Musiala, Christopher Lamb, Joanna F. Wasick and Amos Kim on February 17, 2023 Posted in Blockchain

In this issue: • DeFi Protocols Announce Updates, US Bank Introduces Deposit Token Concept• Financial Stability Board Addresses DeFi Risks in New Report• French Museum to Host NFT Exhibit, New Report Provides 2022 NFT Market Data• SEC Proposes to Expand Scope of Custody Rule to Cover All Crypto Assets• DFS Orders End to BUSD; US, … Continue Reading

DeFi, Stablecoin Products Launch; FASB to Allow Fair Value for Crypto Accounting; SEC Addresses Crypto IRAs; DOJ Enforcement Continues

By Robert A. Musiala, Christopher Lamb, Christina Gotsis, Keith R. Murphy, Veronica Reynolds and Lauren Bass on February 10, 2023 Posted in Blockchain

In this issue:• DeFi, Stablecoin Products Launch; Bitcoin Network Spikes Due to NFTs• Major Global Stablecoin Issuer Tether Obtains Assurance Opinion• FASB Proposal Would Allow Fair-Value Accounting for Many Digital Assets• SEC Addresses Crypto IRAs; Australia Initiates Token-Mapping Project• BTC Ransomware Defendant Pleads; Report Details North Korea Crypto Activities DeFi, Stablecoin Products Launch; Bitcoin Network … Continue Reading

White House Issues Statement on Crypto; Bitcoin ETF Rejected; Public Keys Added to OFAC List; Regulators Address Digital Assets; Crypto Enforcement Continues

By Robert A. Musiala, Keith R. Murphy, Christopher Lamb, Amos Kim and Lauren Bass on February 3, 2023 Posted in Blockchain

In this issue:• White House Addresses Crypto Risks; Blockchain Firm Wins Air Force Contract• SEC Issues Order Disapproving Spot Bitcoin ETF Application• OFAC Adds Bitcoin and Ethereum Public Keys to OFAC’s SDN List• UK and Hong Kong Financial Regulators Address Digital Assets• Founder of Crypto Fraud Sentenced; South Korea Prosecutors Raid Exchange White House Addresses … Continue Reading

US Crypto Exchange Consents to $100M DFS Settlement for AML Compliance Failures

By Jonathan A. Forman, Teresa Goody Guillén, Christopher Lamb, Keith R. Murphy, Robert A. Musiala, Veronica Reynolds and Joanna F. Wasick on January 23, 2023 Posted in Blockchain, Cryptocurrency

On January 4, 2023, the New York State Department of Financial Services (“DFS”) announced that Coinbase, Inc., a major U.S. cryptocurrency exchange, will pay a $50 million penalty and invest an additional $50 million in its compliance function over the next two years to remediate significant violations of the New York Banking Law and the … Continue Reading

Paper Touts DeFi FX Benefits; New Stablecoin Launched; DAO Toolkit Published; BIS Addresses Crypto Risk; SEC, FinCEN, and DOJ Bring Enforcement Actions

By Robert A. Musiala, Teresa Goody Guillén, Christopher Lamb, Amos Kim, Keith R. Murphy and Joanna F. Wasick on January 20, 2023 Posted in Blockchain

In this issue:• Paper Explores Benefits of DeFi for FX; Australian Bank Launches Stablecoin• World Economic Forum Publishes DAO Toolkit; ETH Staking Continues to Grow• New BIS Bulletin and Thailand SEC Regulations Address Digital Asset Risks• SEC Charges U.S. Crypto Lender and Exchange with Securities Law Violations• FinCEN and DOJ Bring Parallel Actions Against Foreign-Based … Continue Reading

Data Published on Crypto Exchange Volume, NFT Royalties, Crypto Crime; Crypto Adoption Continues; DOJ and CFTC Bring Multiple Enforcement Actions

By Robert A. Musiala, Amos Kim, Joanna F. Wasick, Teresa Goody Guillén and Christopher Lamb on January 13, 2023 Posted in Blockchain

In this issue:• New Data Published on 2022 Crypto Exchange Trading Volume, NFT Royalties• Blockchain Development Firm Integrates Avalanche with Major Cloud Provider• Governments of El Salvador and Nigeria Take Steps Toward Crypto Adoption• DOJ Enforcement: NFT Rug Pull, Insider Trading, Crypto Fraud and Theft• CFTC Action Alleges Digital Asset Market Manipulation on DeFi Exchange• … Continue Reading

Crypto Products Launch; NFTs Allowed for Political Fundraising; Bank Regulators Address Crypto Risk; DOJ/SEC Target Crypto Fraud; Scams Continue

By Robert A. Musiala, Christopher Lamb, Keith R. Murphy, Joanna F. Wasick, Amos Kim and Lauren Bass on January 6, 2023 Posted in Blockchain

In this issue:• Crypto Apps Launch New Features, Custody Firm Achieves CCSS Certificate• NFTs Permitted for Political Fund Raising; Analysis Details NFT Wash Trading• US and International Regulators Address Crypto Risk Factors for Banks• Treasury Dept. and IRS Issue Transitional Digital Assets Guidance for Brokers• DOJ and SEC Actions Target Crypto Fraud and Unregistered Securities … Continue Reading

Crypto Payment Products and NFT Initiatives Launch; Crypto Market Data Published; DOJ Brings Charges Alleging Cryptocurrency Ponzi Scheme

By Robert A. Musiala and Christopher Lamb on December 16, 2022 Posted in Blockchain

In this issue: New Crypto Payment Products Launch, Reports Publish Crypto Market Data By Robert A. Musiala Jr. A recent press release announced that MetaMask, the popular Ethereum (ETH) Network crypto wallet provider, will integrate its self-custodial wallets with a major U.S. fintech firm. According to the press release, the integration will allow U.S. MetaMask … Continue Reading

Crypto Payment Products, DeFi Networks and Price Indices Launch; CBDC Report and NFT Royalty Data Published; FinCEN, FTC Address Crypto Regulation

By Shade Quailey, Joanna F. Wasick, Amos Kim, Keith R. Murphy and Veronica Reynolds on December 9, 2022 Posted in Blockchain

In this issue: Payments Firms Launch Crypto Products, New DeFi Price Indices Announced By Shade Quailey A U.S. fintech company recently announced the launch of a fiat-to-crypto on-ramp, which facilitates fiat-to-crypto payments using “a customizable widget that developers can embed directly into their DEX, NFT platform, wallet, or dApp.” According to a blog post, the … Continue Reading

Crypto Research Published; USPTO Seeks NFT Input; SEC and FINRA Address Digital Assets; OFAC Settles with Exchange; DOJ Enforcement Continues

By Robert A. Musiala, Lauren Bass, Sydney Park, Teresa Goody Guillén, Joanna F. Wasick, Amos Kim and Christopher Lamb on December 2, 2022 Posted in Blockchain

In this issue: • New Research and Surveys Address CBDCs, Institutional Crypto Investment• NFTs: Government Agencies Seek Comments on NFT IP; New Marketplaces Open• Crypto DEX and Wallet Providers Reveal User Data Collection Practices• SEC Commissioner Addresses Digital Assets and Investor Protection Concerns• SEC Institutes Proceedings Against DAO; FINRA Examines Crypto Advertising• New York State … Continue Reading

CBDC Report Published; Crypto and NFT Initiatives Launch; OFAC Redesignates Tornado Cash; SEC and CFTC Target Crypto Fraud; FTX Files for Bankruptcy

By Robert A. Musiala, Veronica Reynolds, Amos Kim, Joanna F. Wasick and Christopher Lamb on November 11, 2022 Posted in Blockchain

In this issue: • CBDC Report Published, Blockchain Settlement and Payment Initiatives Launch• NFT World Cup Initiative Launched, Market Actors Launch NFT Royalty Solutions• OFAC Redesignates Tornado Cash, Mixer Receives Hacked Crypto• SEC, CFTC Bring Enforcement Actions Involving Fraudulent Crypto Trading Bots• FTX Files Bankruptcy Amid Binance’s FTT Selloff and Incoming DOJ Probe CBDC Report … Continue Reading

Crypto Products and DeFi Pilot Launch; Reports Address NFT Royalties, Ethereum PoS Efficiency; IRS, CFTC, Address Crypto; Exchange Hacked for $28M

By Robert A. Musiala, Amos Kim, Joanna F. Wasick, Teresa Goody Guillén and Sydney Park on November 4, 2022 Posted in Blockchain

In this issue: • New Crypto Products Launch; Singapore Completes DeFi Pilot with Major Banks• Report Provides New Data on NFT Royalties and Explores Related Issues• Ethereum Efficiency Data Published; Blockchain Infrastructure Projects Launch• IRS Updates Digital Asset Guidance, CFTC Commissioner Warns of Crypto Risk• Crypto Exchange Hacked for $28M; Reports Address Ransomware, Crypto Scams … Continue Reading