Archives: Blockchain

Ripple Case Presses Forward

By Teresa Goody Guillén and Joanna F. Wasick on March 17, 2022 Posted in Blockchain

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

Executive Order Launches Comprehensive US Policy and Action Plan for Digital Assets

By Robert A. Musiala, Teresa Goody Guillén, Joanna F. Wasick, Veronica Reynolds, Kevin Edgar, Jonathan A. Forman and Adam Gale on March 17, 2022 Posted in Blockchain, Cryptocurrency

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

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

Financial Firms Develop Crypto Offerings; DAO Hacker Reportedly Identified; DOJ Names New Crypto Director; NFT Initiatives Launch as Markets Are Hacked

By Robert A. Musiala, Nicholas C. Mowbray, Lauren Bass, Teresa Goody Guillén and Alex Karambelas on February 25, 2022 Posted in Blockchain

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

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

CBDC Research Published, Crypto Products Launch, Report Addresses NFT Money Laundering Risks, UK Addresses DeFi Tax, DOJ Brings $4.5B Crypto Case

By Robert A. Musiala, Nicholas C. Mowbray and Alex Karambelas on February 11, 2022 Posted in Blockchain

In This Issue: •CBDC Research Published, Fintech Firms and Banks Launch Crypto Initiatives •US Department of Treasury Guidance Notes NFT Money Laundering Risks •A Major US Banking Agency Prioritizes Crypto; Market Integrity in Focus; UK Updates DeFi Tax Guidance •DOJ Charges Couple for Laundering $4.5B in Crypto, UN Reports Crypto Threats… 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

NFT Initiatives Launch, Congress Writes to CFTC on Crypto, SEC Charges ICO Fraud Scheme, GAO Addresses Crypto ATMs, Reports Address Crypto Threats

By Robert A. Musiala, Lauren Bass, Joanna F. Wasick and Veronica Reynolds on January 14, 2022 Posted in Blockchain, Cryptocurrency, ICOs, NFTs, Securities & Exchange Commission

In this issue: • From Music to Marketplaces: NFT Use Cases Continue to Expand • Congress Writes CFTC on Crypto, Firms Make DeFi and Crypto Derivative Moves • SEC Charges ICO Fraud Scheme, GAO Recommends Crypto ATM Regulation • New Reports Provide Data on 2021 Cryptocurrency Criminal Activities From Music to Marketplaces: NFT Use Cases … 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

US Financial Services Firms Announce Crypto Initiatives; Crypto Firms Pursue LATAM Market; Products Launch in DAOs, NFTs; Exchange Hacked for $200M

By Robert A. Musiala, Jordan R. Silversmith, Joanna F. Wasick and Lauren Bass on December 10, 2021 Posted in Bitcoin, Blockchain, Cryptocurrency, FinTech, NFTs

• Multiple US Financial Services Firms Announce Cryptocurrency Initiatives • Crypto Firms Pursue LATAM Market, Launch Cold Storage and DAO Products • New NFT Initiatives by Beer Co., Crypto Exchange; NFT Market Report Published • Crypto Exchange Hacked for $200M, Lawsuit Targets Crypto Malware Botnet Multiple US Financial Services Firms Announce Cryptocurrency Initiatives By Robert … 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, 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

DOJ Targets Cryptocurrency Fraud

By John J. Carney, Robert A. Musiala, Michelle Tanney and Kayley Sullivan on October 12, 2021 Posted in Blockchain, Cryptocurrency, Enforcement, Securities & Exchange Commission

Authorship credit: John J. Carney, Robert A. Musiala Jr., Michelle N. Tanney, and Kayley B. Sullivan On October 6, 2021, the U.S. Department of Justice (“DOJ”) announced the creation of a National Cryptocurrency Enforcement Team (“NCET” or “Team”) to tackle investigations and prosecutions of criminal misuses of cryptocurrency, including crimes committed by virtual currency exchanges, … Continue Reading

Crypto Initiatives and Blockchain Supply Chain Solutions Launch; Reports Provide 2021 Crypto Market Stats, Address Risks; DOJ Crypto Team Announced

By Robert A. Musiala, Lauren Bass, Veronica Reynolds and Jordan R. Silversmith on October 8, 2021 Posted in Blockchain, Cryptocurrency, Enforcement, ICOs, NFTs, Securities & Exchange Commission, Uncategorized

• Major Financial Institutions Announce Crypto and Blockchain Initiatives • Blockchain Adopted to Improve Supply Chains and Authenticate Products • Blockchain Reports Publish 2021 Blockchain, DeFi and NFT Stats • Financial Watchdogs Publish Reports Addressing Cryptocurrency Markets • DOJ Announces Crypto Enforcement Team, Warning Issued on French ICO Major Financial Institutions Announce Crypto and Blockchain … Continue Reading

Financial Institutions Pursue Cryptocurrency and Blockchain Offerings, US Treasury Sanctions Russian Crypto OTC Desk, Multiple DeFi Platforms Hacked

By Lauren Bass, Veronica Reynolds, Joanna F. Wasick and Kayley Sullivan on September 24, 2021 Posted in Bitcoin, Blockchain, Cryptocurrency, NFTs, Securities & Exchange Commission

• Traditional Financial Firms Pursue Crypto and Blockchain Market Offerings • States Target Crypto Lending Platform, Alleging Securities Laws Violations • US Treasury Sanctions Russian Crypto OTC Desk, Issues Ransomware Advisory • Cryptocurrency Hackers Continue to Plague DeFi Platforms Traditional Financial Firms Pursue Crypto and Blockchain Market Offerings By Lauren Bass Earlier this week, a … 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

CBDC Initiatives Announced, NFTs Expand Across Markets, Token and Wallet Applications Evolve, SEC and DOJ Target Crypto Fraud, Crypto Hacks Continue

By Robert A. Musiala, Lauren Bass, Veronica Reynolds, Jordan R. Silversmith and Teresa Goody Guillén on September 3, 2021 Posted in Bitcoin, Blockchain, Cryptocurrency, Cybersecurity, Enforcement, NFT, NFTs, Securities & Exchange Commission, Uncategorized

In this issue: • CBDC Initiatives Announced, Blockchain Trade Finance Platform Launches • Baseball, Art, Politics, Commerce: NFT Market Continues to Expand • Gaming Token Shifts Away from Ethereum, MetaMask Announces 10M Users • BitConnect Charged in $2B Crypto Fraud, BitConnect Promoter Pleads Guilty • Seychelles Investigates Crypto Fraud, Singapore Issues Warning for Exchange • … Continue Reading