Archives: Cryptocurrency

Crypto Investment and Payment Products Launch, BiTA Platform Announced, SEC and OFAC Take Crypto Enforcement Actions, FCA Extends AML Exemption

In this issue: • Crypto Investment and Payments Products Launch, Payment Data Published • Acquisition Targets ‘Smart Agreements’ Tech, BiTA Platform Launched • SEC and OFAC Take Crypto Enforcement Actions, FCA Extends AML Exemption Crypto Investment and Payments Products Launch, Payment Data Published By: Veronica Reynolds Last week Securitize announced the launch of Securitize Capital, … Continue Reading

NFTs Launch, Regulators Target Crypto Ads and Scams, Nebraska Passes Digital Asset Bank Charter, Reports Detail Crypto Hedge Funds and Sanctions Evasion

By Teresa Goody Guillén, Veronica Reynolds, Keith R. Murphy and Joanna F. Wasick on May 28, 2021 Posted in Blockchain, Cryptocurrency, NFTs

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

Reports Analyze Bitcoin Price, Energy Consumption; SEC Petitioned on NFTs, NFT Platform Sued; FDIC and FATF Focus on Crypto; Hacks and Fraud Continue

By Keith R. Murphy, Teresa Goody Guillén, Veronica Reynolds, Joanna F. Wasick and Jordan R. Silversmith on May 21, 2021 Posted in Bitcoin, Cryptocurrency, NFTs, Ransomware, Securities & Exchange Commission

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

Market Actors Integrate Cryptocurrency into Payment and Investment Products, More NFTs Launched, SEC Staff Issues Crypto Statement, DeFi Hacked for $14M

By Robert A. Musiala, Veronica Reynolds, Teresa Goody Guillén and Joanna F. Wasick on May 14, 2021 Posted in Bitcoin, Cryptocurrency, NFTs

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

CBDC Paper Released, Crypto Firms Launch Products, NFT Craze Continues, IRS Gains Access to Crypto Records, Task Force Addresses Crypto Ransomware

By Jordan R. Silversmith, Veronica Reynolds, Keith R. Murphy, Robert A. Musiala and Teresa Goody Guillén on May 7, 2021 Posted in Cryptocurrency, NFT, Ransomware

In this issue: • CBDC Paper Released, NY DFS Grants License, Study Cites Crypto Adoption • Traditional Financial Firms Launch Crypto Products, Data Shows DeFi Growth • Auction House Embraces Cryptocurrencies, NFT Sales Continue • Federal Court Authorizes IRS John Doe Summons on Cryptocurrency Exchange • Ransomware Task Force Issues Report to Reduce Ransomware Attacks … Continue Reading

Cryptocurrency and Blockchain Initiatives Continue in Payments, NFTs and Media; Crypto Enforcement and Threats Also Continue Across Globe

By Robert A. Musiala, Jordan R. Silversmith, Joanna F. Wasick and Keith R. Murphy on April 30, 2021 Posted in Cryptocurrency, Enforcement, Global

In this issue: • Crypto Adoption Continues in Credit Cards, OCC Approval, Restaurant Payments • NFT Initiatives Continue, Advertising and Media Firms Integrate Cryptocurrencies • Cryptocurrency Enforcement Actions Continue in US, Turkey and South Korea • Reports Detail Crypto Crime Statistics, $50M Hack, Anti-Cryptojacking Initiative Crypto Adoption Continues in Credit Cards, OCC Approval, Restaurant Payments … Continue Reading

Firms Enable Crypto Payments; Blockchain Deployed for Luxury Goods, A&D and Postal Services; NFT Hype Continues; Turkey Bans Crypto; DeFi Hacked for $80M

By Keith R. Murphy, Jordan R. Silversmith, Veronica Reynolds and Joanna F. Wasick on April 23, 2021 Posted in Bitcoin, Blockchain, Cryptocurrency

In this issue: • Companies Enable Crypto Payments, Reports Address Market Developments • Blockchain Solutions Deployed for Luxury Goods, A&D and Postal Services • Charitable NFTs Raise Millions, Soccer Player Pelé Announces His First NFT • DOJ Actions Cite Crypto Use, Turkey Bans Crypto, DeFi Hacked for $80 Million Companies Enable Crypto Payments, Reports Address … Continue Reading

Crypto Exchanges Launch Initiatives, NFT Hype Continues, Token Safe Harbor Proposal Updated, Digital Euro Study Published, Hacked Bitcoin is On the Move

By Keith R. Murphy, Veronica Reynolds, Teresa Goody Guillén, Jordan R. Silversmith and Joanna F. Wasick on April 16, 2021 Posted in Bitcoin, Cryptocurrency

In this issue: • Cryptocurrency Exchanges Forge New Paths, Bitcoin ETF Applications Continue • MLB Gets In on NFT Hype, Chinese Alliance Seeks to Bring NFTs to Streamers • Token Safe Harbor Proposal Updated, IRS Memo Addresses Bitcoin Hard Fork • ECB Publishes Survey on Digital Euro, Study Addresses Bitcoin Electricity Usage • Judgment Entered … Continue Reading

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

By Veronica Reynolds, Teresa Goody Guillén and Joanna F. Wasick on April 9, 2021 Posted in Bitcoin, Blockchain, Cryptocurrency, ICOs

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 Launch New Crypto Products, NFTs Trending, Crypto Exchange Acquires Broker-Dealer, SEC, DOJ, IRS and CFTC Actions Target Crypto Actors

By Jordan R. Silversmith, Veronica Reynolds, Joanna F. Wasick, Keith R. Murphy and Robert A. Musiala on April 2, 2021 Posted in Bitcoin, Cryptocurrency

In this issue: • US Institutional Financial Firms, and Fintech Startups, Launch Crypto Products • Creative NFT Launches and Bitcoin Giveaways Continue To Trend • US Crypto Exchange Acquires Broker Dealer, SEC Action Targets Token Sales • US Enforcement Actions Target Cryptocurrency Darknet Activities and Fraud • DOJ and IRS Actions Target Crypto Tax Evaders, … Continue Reading

Crypto Firm Initiatives in CBDCs and Custody, GSA Auctions Bitcoin, Marketing Campaigns Integrate Crypto, ETFs Seek Approval, Enforcement Actions Continue

By Jordan R. Silversmith, Veronica Reynolds, Teresa Goody Guillén and Joanna F. Wasick on March 26, 2021 Posted in Cryptocurrency, Securities & Exchange Commission

In this issue: • Crypto Firms Expand CBDC and Custody Initiatives, GSA Auctions Bitcoin • Token-Focused Marketing Campaigns Signal Rising Interest in Cryptocurrencies • ETFs Seek SEC Approval as Brazil Approves First ETF, FATF Updates Guidance • CFTC, Canadian Tax Agency and DOJ Continue Crypto Enforcement Activities Crypto Firms Expand CBDC and Custody Initiatives, GSA … Continue Reading

US Firms Launch Bitcoin Products, Seek Approvals; Federal and State Agencies Take Enforcement Actions Against Cryptocurrency Industry Firms

By Joanna F. Wasick and Keith R. Murphy on March 19, 2021 Posted in Bitcoin, Cryptocurrency

In this issue: • US Firms Launch Bitcoin Products, Seek Approvals, Advocate for Crypto Rules • Multiple Federal and State Agencies Take Actions Against Crypto Industry Firms US Firms Launch Bitcoin Products, Seek Approvals, Advocate for Crypto Rules By: Joanna F. Wasick According to reports, in an internal memorandum issued earlier this week, a major … Continue Reading

NFT Sales Launch, Fintech Firms Launch Crypto Initiatives, NY DFS Approves Crypto Firms, CFTC and IRS Target Crypto Crimes, DeFi Project Hacked

By Veronica Reynolds, Robert A. Musiala, Keith R. Murphy and Joanna F. Wasick on March 12, 2021 Posted in Cryptocurrency

In this issue: • NFTs Make Headlines, Global Payments Firm Launches Cryptocurrency Unit • Cryptocurrency Payment Options Expand Across the Globe • Cryptocurrency Firms Achieve NY DFS Approvals, IRS Launches Crypto Initiative • CFTC Action Targets Crypto Market Manipulation, DeFi Hacked for $31 Million NFTs Make Headlines, Global Payments Firm Launches Cryptocurrency Unit By: Veronica … Continue Reading

Crypto Financial Products Announced, MIT Seeks to Improve Bitcoin Codebase, SEC Addresses Digital Assets, DeFi Hacks Continue, Crypto Theft Data Published

By Keith R. Murphy, Joanna F. Wasick and Teresa Goody Guillén on March 5, 2021 Posted in Bitcoin, Cryptocurrency, Securities & Exchange Commission

In this issue: • Crypto Firms Launch New Services, MIT Seeks to Improve Bitcoin Codebase • Institutional Cryptocurrency Investment Products Advance, New Data Published • SEC Focuses on Digital Assets, DeFi Hacked, Crypto Theft Data Published Crypto Firms Launch New Services, MIT Seeks to Improve Bitcoin Codebase By Keith R. Murphy A San Francisco-based cryptocurrency … Continue Reading

Bahamas CBDC Prepaid Card, Ether Investment Products and Travel Rule Solutions Launch, Crypto Enforcement Settlements by OFAC and NYAG

By Jordan R. Silversmith, Veronica Reynolds, Joanna F. Wasick and Keith R. Murphy on February 26, 2021 Posted in Bitcoin, Cryptocurrency

In this issue: • Bahamas CBDC Integrates with Prepaid Card, Bitcoin Donation Data Published • Ether Investment Products Launch, New Publications Detail Crypto Adoption • Travel Rule Solutions Launch, DeFi Market Dissolves Following SEC Inquiry • Federal and State Agencies Pursue Multiple Cryptocurrency Offenders Bahamas CBDC Integrates with Prepaid Card, Bitcoin Donation Data Published By: … Continue Reading

Crypto Payment Options Announced, Federal Reserve Official Addresses Bitcoin, US and Foreign Actions Target Crypto Crimes, DeFi Hacks Continue

By Joanna F. Wasick, Keith R. Murphy and Veronica Reynolds on February 19, 2021 Posted in Bitcoin, Cryptocurrency, Uncategorized

In this issue: • Crypto Payment Options Announced, Federal Reserve Official Addresses Bitcoin • Enforcement Actions Target Crypto Trading, Hacking and Money Laundering • Flash Loan Attacks Cripple DeFi, Criminal ‘Retires’ with $1Billion in Bitcoin Crypto Payment Options Announced, Federal Reserve Official Addresses Bitcoin By: Joanna F. Wasick Late last week, BitPay, a leading provider … 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

Crypto Exchanges Announce Market Developments, US Report Addresses Crypto Tax, New DOJ and SEC Enforcement, Reports Detail Crypto Crimes

By Veronica Reynolds, Joanna F. Wasick, Teresa Goody Guillén and Jordan R. Silversmith on February 5, 2021 Posted in Cryptocurrency, Securities & Exchange Commission

In this issue: • Cryptocurrency Exchanges and Financial Firms Announce Market Developments • US Report Covers Crypto Tax Issues, Israeli Ruling Says Tokens Are Securities • DOJ, SEC and Europol Bring Various Cryptocurrency Enforcement Actions • Reports Provide Insights on Cryptocurrency Crimes and Darknet Activities Cryptocurrency Exchanges and Financial Firms Announce Market Developments By: Veronica … 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

FinCEN Extends Crypto Rule Comment Period, Crypto Products Launch; Enforcement Agencies Target Crypto Crimes in US, Japan and China

By Robert A. Musiala and Joanna F. Wasick on January 29, 2021 Posted in Cryptocurrency, Enforcement

In this issue: • FinCEN Extends Crypto Rule Comment Period, Crypto Payment Products Launch • Enforcement Agencies Target Cryptocurrency Crimes in US, Japan and China FinCEN Extends Crypto Rule Comment Period, Crypto Payment Products Launch By: Robert A. Musiala Jr. This week the U.S. Financial Crimes Enforcement Network (FinCEN) published a notice extending the comment … Continue Reading

FinCEN Proposed Rule Halted, Exchanges and Banks Expand Crypto Products, SEC Brings Action Against Token Issuer, Crypto Threat Reports Published

By Jordan R. Silversmith, Veronica Reynolds and Robert A. Musiala on January 22, 2021 Posted in Cryptocurrency, Enforcement, Securities & Exchange Commission

In this issue: • Exchanges and Banks Expand Cryptocurrency Services and Products • FinCEN Proposed Rule Halted, Banks and Crypto Exchanges Adjust Policies • SEC Brings Action Against SAFT and Token Issuer, Related Statement Published • Reports Provide Details on Criminal Activities Involving Cryptocurrencies Exchanges and Banks Expand Cryptocurrency Services and Products By: Jordan R. … Continue Reading

Crypto Trust to Become Bank, FinCEN Comment Period Extended, Navy Awards Blockchain Contract, Dark Market Seized, Illicit Exchange Owner Sentenced

By Veronica Reynolds, Jordan R. Silversmith, Robert A. Musiala and Teresa Goody Guillén on January 15, 2021 Posted in Bitcoin, Cryptocurrency, Enforcement

In this issue: • Crypto Trust to Convert to Bank, FinCEN Extends New Rule Comment Period • Bitcoin Firms List on Public Markets, Japan Diverges from SEC on XRP Status • Navy Contracts for Blockchain Solution, SSI Report and Market Data Published • Enforcement Actions Target Dark Web Market and Illicit Crypto Exchange Crypto Trust … 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