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Executive Order Addresses Digital Assets; Banks and Restaurants Launch Crypto Initiatives; FinCEN Issues Alert; SEC, CFTC and DOJ Bring Actions

Photo of Robert A. MusialaPhoto of Alex KarambelasPhoto of Veronica ReynoldsPhoto of Keith R. MurphyPhoto of Joanna F. WasickPhoto of Lauren BassBy Robert A. Musiala, Alex Karambelas, Veronica Reynolds, Keith R. Murphy, Joanna F. Wasick and Lauren Bass on Posted in Cryptocurrency, FinTech, Government, Securities & Exchange Commission, Uncategorized
In this issue: President Biden Issues Executive Order Addressing Digital Assets Banks Join USDF ‘Stablecoin’ Consortium, Pursue Crypto Custody Offerings U.S. Restaurants Adopt Crypto; Swiss City Calls Crypto ‘De Facto’ Legal Tender Cryptocurrency Sanctions Compliance Activity Spikes Following Russian Actions SEC, CFTC and DOJ Bring Charges Alleging Cryptocurrency Fraud Schemes President Biden Issues Executive Order … Continue Reading

Crypto Payments Firms Make Moves; NFT and Blockchain Supply Chain Projects Launch; Central Bank Addresses CBDCs; SEC and DOJ Bring Crypto Actions

Photo of Robert A. MusialaPhoto of Veronica ReynoldsPhoto of Keith R. MurphyPhoto of Joanna F. WasickPhoto of Jordan R. SilversmithBy Robert A. Musiala, Veronica Reynolds, Keith R. Murphy, Joanna F. Wasick and Jordan R. Silversmith on 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

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

Photo of Robert A. MusialaPhoto of Lauren BassPhoto of Joanna F. WasickPhoto of Veronica ReynoldsBy Robert A. Musiala, Lauren Bass, Joanna F. Wasick and Veronica Reynolds on 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

Crypto Payment Products Launch; SEC Addresses DeFi, Targets DAO Tokens; OFAC Adds Crypto Exchange to SDN List; Crypto Fraud Schemes Revealed

Photo of Robert A. MusialaPhoto of Kayley SullivanPhoto of Joanna F. WasickPhoto of Veronica ReynoldsPhoto of Keith R. MurphyBy Robert A. Musiala, Kayley Sullivan, Joanna F. Wasick, Veronica Reynolds and Keith R. Murphy on 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 Offerings; Congressmen Address Bitcoin ETFs; NFT Boom Continues; Agencies Seek Crypto Oversight; Crypto Hacker Indicted

Photo of Robert A. MusialaPhoto of Jordan R. SilversmithPhoto of Joanna F. WasickPhoto of Lauren BassPhoto of Keith R. MurphyPhoto of Elyssa S. KatesBy Robert A. Musiala, Jordan R. Silversmith, Joanna F. Wasick, Lauren Bass, Keith R. Murphy and Elyssa S. Kates on Posted in Bitcoin, Cryptocurrency, Government, NFT, NFTs, Securities & Exchange Commission
• Traditional Financial Firms Integrate Crypto Services, CBDC Reports Published • Congressmen Advocate for Bitcoin Spot ETFs, Australia Issues Crypto ETP Regs • Sports Franchises and Music Platforms Continue to Embrace NFTs • Government Agencies Argue for Increased Oversight of Cryptocurrency Markets • DOJ Charges Cryptocurrency Hacker, Decentralized Exchange Hacked for $139M Traditional Financial Firms … Continue Reading

Crypto Financial Products Launch; G7 Addresses CBDCs; SEC Commissioners and Foreign Regulators Address Crypto; ICO Founders Plead to Tax Evasion

Photo of Veronica ReynoldsPhoto of Robert A. MusialaPhoto of Joanna F. WasickPhoto of Keith R. MurphyPhoto of Jordan R. SilversmithBy Veronica Reynolds, Robert A. Musiala, Joanna F. Wasick, Keith R. Murphy and Jordan R. Silversmith on 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

Photo of John J. CarneyPhoto of Robert A. MusialaPhoto of Michelle TanneyPhoto of Kayley SullivanBy John J. Carney, Robert A. Musiala, Michelle Tanney and Kayley Sullivan on 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

Photo of Robert A. MusialaPhoto of Lauren BassPhoto of Veronica ReynoldsPhoto of Jordan R. SilversmithBy Robert A. Musiala, Lauren Bass, Veronica Reynolds and Jordan R. Silversmith on 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

NFT Scandals Coincide with Increased Push for Crypto Regulation

Photo of George StamboulidisPhoto of Robert A. MusialaPhoto of Christina GotsisBy George Stamboulidis, Robert A. Musiala and Christina Gotsis on Posted in Cryptocurrency, Enforcement, NFTs, Securities & Exchange Commission, Uncategorized
Authorship credit: George A. Stamboulidis, Robert A. Musiala Jr., and Christina O. Gotsis Problems caused by the lack of regulation in NFT markets were clearly exposed just last month with the revelation of not one, but two NFT scandals involving the use of insider information to snag exclusive pieces and game the market. In early … Continue Reading

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

Photo of Lauren BassPhoto of Veronica ReynoldsPhoto of Joanna F. WasickPhoto of Kayley SullivanBy Lauren Bass, Veronica Reynolds, Joanna F. Wasick and Kayley Sullivan on 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

Photo of Robert A. MusialaPhoto of Kayley SullivanPhoto of Veronica ReynoldsPhoto of Keith R. MurphyBy Robert A. Musiala, Kayley Sullivan, Veronica Reynolds and Keith R. Murphy on 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

Photo of Robert A. MusialaPhoto of Lauren BassPhoto of Veronica ReynoldsPhoto of Jordan R. SilversmithPhoto of Teresa Goody GuillénBy Robert A. Musiala, Lauren Bass, Veronica Reynolds, Jordan R. Silversmith and Teresa Goody Guillén on 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

SEC Scrutinizes Use of Fintech by Broker-Dealers and Investment Advisers

Photo of Teresa Goody GuillénPhoto of Jonathan A. FormanPhoto of Madison GaudreauBy Teresa Goody Guillén, Jonathan A. Forman and Madison Gaudreau on Posted in FinTech, Securities & Exchange Commission
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

Cryptocurrency and NFT Market Growth Continues, Regulators Across Globe Target Crypto Industry as Threats Continue, Global Blockchain Survey Published

Photo of Robert A. MusialaPhoto of Veronica ReynoldsPhoto of Lauren BassPhoto of Teresa Goody GuillénPhoto of Keith R. MurphyPhoto of Joanna F. WasickBy Robert A. Musiala, Veronica Reynolds, Lauren Bass, Teresa Goody Guillén, Keith R. Murphy and Joanna F. Wasick on Posted in Banking, Bitcoin, Blockchain, Cryptocurrency, Cybersecurity, Enforcement, Global, NFT, Securities & Exchange Commission
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

Crypto, CBDC and Blockchain Supply Chain Initiatives Announced; More SEC and FinCEN Enforcement; Crypto Tax Amendment Fails; DeFi Hacked for $600M

Photo of Robert A. MusialaPhoto of Veronica ReynoldsPhoto of Joanna F. WasickPhoto of Teresa Goody GuillénPhoto of Nicholas C. MowbrayPhoto of Kayley SullivanBy Robert A. Musiala, Veronica Reynolds, Joanna F. Wasick, Teresa Goody Guillén, Nicholas C. Mowbray and Kayley Sullivan on Posted in Bitcoin, Blockchain, Cryptocurrency, Enforcement, Platforms, Securities & Exchange Commission, Tax
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

SEC Doubles Down on Crypto Enforcement

Photo of John J. CarneyPhoto of Teresa Goody GuillénPhoto of Adam GalePhoto of Jonathan A. FormanPhoto of Michelle TanneyBy John J. Carney, Teresa Goody Guillén, Adam Gale, Jonathan A. Forman and Michelle Tanney on Posted in Bitcoin, Blockchain, Cryptocurrency, Enforcement, Securities & Exchange Commission, White Collar
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

New Stablecoin and CBDC Developments, Blockchain Enterprise Initiatives Announced, Crypto Financial Services Firm Targeted by State Regulators

Photo of Robert A. MusialaPhoto of Joanna F. WasickPhoto of Jordan R. SilversmithPhoto of Keith R. MurphyPhoto of Kayley SullivanBy Robert A. Musiala, Joanna F. Wasick, Jordan R. Silversmith, Keith R. Murphy and Kayley Sullivan on Posted in Blockchain, Cryptocurrency, Securities & Exchange Commission
In this issue: • US Stablecoin Issuers Publish New Details on US Dollar Reserves • US Treasury, Bank of Canada and Academics Address Stablecoins and CBDCs • Australian and Georgian Governments Launch Blockchain Initiatives • Crypto Financial Services Firm Targeted by State Securities Regulators • SEC Enforcement Actions Target Cryptocurrency-Related Misrepresentations US Stablecoin Issuers Publish … Continue Reading

NFT Initiatives Continue, Blockchain Tracing Solutions Expand, SEC Targets ICO, Crypto Enforcement Data Published, Regulators Across Globe Address Crypto

Photo of Veronica ReynoldsPhoto of Jordan R. SilversmithPhoto of Teresa Goody GuillénPhoto of Joanna F. WasickPhoto of Kayley SullivanBy Veronica Reynolds, Jordan R. Silversmith, Teresa Goody Guillén, Joanna F. Wasick and Kayley Sullivan on Posted in Blockchain, Cryptocurrency, NFTs, Securities & Exchange Commission
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

Reports Address CBDCs, Security Tokens; NFT Sales Continue; Blockchain Initiatives Announced; Regulators Address Crypto; SEC Targets ICO Fraud

Photo of Veronica ReynoldsPhoto of Jordan R. SilversmithPhoto of Keith R. MurphyPhoto of Teresa Goody GuillénBy Veronica Reynolds, Jordan R. Silversmith, Keith R. Murphy and Teresa Goody Guillén on Posted in Blockchain, NFTs, Securities & Exchange Commission
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

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

Photo of Veronica ReynoldsPhoto of Jordan R. SilversmithPhoto of Keith R. MurphyBy Veronica Reynolds, Jordan R. Silversmith and Keith R. Murphy on Posted in Bitcoin, Cryptocurrency, Securities & Exchange Commission
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

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

Photo of Keith R. MurphyPhoto of Teresa Goody GuillénPhoto of Veronica ReynoldsPhoto of Joanna F. WasickPhoto of Jordan R. SilversmithBy Keith R. Murphy, Teresa Goody Guillén, Veronica Reynolds, Joanna F. Wasick and Jordan R. Silversmith on 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

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

Photo of Jordan R. SilversmithPhoto of Veronica ReynoldsPhoto of Teresa Goody GuillénPhoto of Joanna F. WasickBy Jordan R. Silversmith, Veronica Reynolds, Teresa Goody Guillén and Joanna F. Wasick on 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

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

Photo of Keith R. MurphyPhoto of Joanna F. WasickPhoto of Teresa Goody GuillénBy Keith R. Murphy, Joanna F. Wasick and Teresa Goody Guillén on 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

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

Photo of Veronica ReynoldsPhoto of Joanna F. WasickPhoto of Teresa Goody GuillénPhoto of Jordan R. SilversmithBy Veronica Reynolds, Joanna F. Wasick, Teresa Goody Guillén and Jordan R. Silversmith on 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
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