Tag Archives: cryptocurrency

Crypto Payment Products Show Gains, Blockchain Initiatives Announced for COVID-19 Data, Regulators Consider Blockchain Issues, Ethereum Classic Suffers 51% Attack

In this issue: • Announcements Provide Details on New Cryptocurrency Payment Products • Blockchain Use in COVID-19 Data, Food, Beverage Bottles and Wine Supply Chains • Regulators Consider Blockchain Issues in Tax, Banking, Securities and State Services • DOJ Targets Hackers and Darknet Vendors, Ethereum Classic Suffers “51% Attack” Announcements Provide Details on New Cryptocurrency … Continue Reading

Crypto-Focused Bank Achieves Approval in Wyoming, US HHS Implements Blockchain, NY Challenge to OCC Fintech Charter Continues, ICO Issuer Charged in Fraud Scheme

In this issue: • Crypto-Focused Bank Approved in Wyoming, Initiatives Advance in Foreign Markets • US HHS Implements Blockchain; Clothing, Food and Shipping Platforms Expand • NY Challenges OCC Fintech Charter in 2nd Circuit, Fintech Report Covers First Half of 2020 • ICO Issuer Charged With Fraud in US, Chinese Police Arrest 27 for PlusToken … Continue Reading

New Crypto Services Address Custody, Payment Cards and ATS’s, OCC Says Banks Can Custody Crypto, DOJ Charges Bitcoin ATM Operator and Crypto Fraudster

In this issue: • Reports Detail New Plans for Crypto Custody Services, Payment Cards and ATS Platforms • OCC Says Banks Can Custody Crypto, IRS and UK/FCA Act on Crypto Initiatives • DOJ Charges Bitcoin ATM Operator/Crypto Fraudster, Canada Exchange Settles Charges Reports Detail New Plans for Crypto Custody Services, Payment Cards and ATS Platforms … Continue Reading

New York Appellate Court Confirms Attorney General’s Broad Investigative Powers into the Cryptocurrency Industry

On July 9, the Appellate Division of the Supreme Court of New York, First Department (First Department) issued a significant decision in James v. iFinex that confirmed the broad authority of the New York State Attorney General (NYAG) to investigate potential fraud. The decision is significant because it is the first appellate decision to apply … Continue Reading

Canada’s Largest Cryptocurrency Exchange Found to Have Operated Like a Ponzi Scheme

On June 11, 2020 the Ontario Securities Commission (OSC), one of Canada’s provincial securities regulators, issued a report finding that QuadrigaCX (Quadriga), which went into bankruptcy a few months after founder and CEO Gerald Cotten was reported to have died in India, “was an old-fashioned fraud wrapped in modern technology.”[1] The report, dated April 2020, … Continue Reading

Blockchain Food Tracing Initiatives Add Members, Report Addresses Central Bank Digital Currencies, NY DFS Publishes Crypto Guidance, Enforcement Actions Continue

In this issue: • Seafood Association, Restaurant Chain Announce Blockchain Supply Chain Partnerships • Sweden Report Addresses Central Bank Digital Currencies, Fintech Firms Explore Crypto • NY DFS and UK FCA Publish Crypto Guidance, Firms Announce Compliance Initiatives • U.S. and Foreign Agencies Take Enforcement Actions, Crypto Threat Reports Published Seafood Association, Restaurant Chain Announce … Continue Reading

U.S. Air Force Explores Blockchain, Global Blockchain Survey Published, Crypto Debit Card Launches, Compliance Initiatives Announced, Quadriga CX Report Published

In this issue: • U.S. and Australia Explore Blockchain Solutions, Global Blockchain Survey Published • U.S. Cryptocurrency Debit Card Launches, Gaming Firm Announces Token Initiative • SEC and Industry Promote Regulatory Compliance Solutions for Blockchain Market • OSC Issues Report Finding QuadrigaCX Operated Like a Ponzi Scheme U.S. and Australia Explore Blockchain Solutions, Global Blockchain … Continue Reading

Solutions Announced in Pharma, Energy and Food Industries, Digital Dollar Project Launches, France Approves Second ICO, Major Crypto AML Report Published

In this issue: • Blockchain Solutions Launch in Pharma, Energy and Food Industries • Digital Dollar Project Launches, Cryptocurrency Focused Bank Receives Investment • French Regulator Approves ICO, New Token Standards Body Launches • DOJ and SEC Continue Prosecuting Crypto Crimes, CipherTrace Issues AML Report Blockchain Solutions Launch in Pharma, Energy and Food Industries By: … Continue Reading

Tezos and ATB Cryptocurrency Class Action Cases Provide Guidance on Different Factors Driving Settlements Against ICO Issuers for Securities Laws Registration Violations

On April 30, 2020, a federal court in San Francisco preliminarily approved a $25 million class action settlement against the Swiss-based Tezos Foundation, its Californian founders, and other domestic and foreign firms directly involved in the 2017 initial coin offering (ICO) of its token, XTZ. The Tezos offering was conducted on a worldwide basis to … Continue Reading

Cryptocurrency Trading Firms Expand Services Through Acquisitions, Regulatory Approvals and Investments, SEC Charges ICO Issuer, Crypto Malware Attack Detected

In this issue: • U.S. Crypto Trading Firms Make Acquisitions Targeted at “Prime Brokerage” Services • FINRA Approves Blockchain ATS, Institutional Crypto Trading Firm Expands Reach • SEC Announces Charges and Consent Order Against Issuer of $25.5 Million ICO • Major Crypto Mining Malware Attack Detected U.S. Crypto Trading Firms Make Acquisitions Targeted at “Prime … Continue Reading

Crypto Payment Products Target Foreign Markets, Blockchain Enterprise Solutions Launch, Private Lawsuits Target Crypto Firms, Major Mining Malware Attack Detected

In this issue: • Payments Evolve: USD Stablecoin Accounts for Latin America and Crypto Debit Cards • Blockchain Initiatives Launch for Food Supply Chain and Intercompany Transactions • Crypto Trade Group Meets With SEC, FinCEN Director Addresses Cryptocurrencies • Private Litigants Continue to Target Major Blockchain Industry Companies • Reports Detail Major Crypto-Mining Malware Attack, … Continue Reading

CFTC Approves Bitcoin Futures, Crypto Initiatives Launch, Blockchain Traceability and Energy Solutions Deployed, South Africa and Singapore Issue Regulations

In this issue: • CFTC Approves Bitcoin Futures and Prosecutes Fraud, Amicus Brief Filed in Kik Case • Emerging Blockchain Payment and Crypto Custody Solutions Announce New Milestones • Blockchain Solutions Deployed in Egg Traceability, Energy Trading and Mobility Services • South Africa and Singapore Issue New Cryptocurrency Policies and Regulatory Guidance CFTC Approves Bitcoin … Continue Reading

Court Applies Single Scheme Theory To Grant the SEC’s Preliminary Injunction in Telegram Cryptocurrency Case

On March 24, Judge P. Kevin Castel of the U.S. District Court for the Southern District of New York granted the Securities and Exchange Commission’s (SEC) motion for a preliminary injunction in the closely followed Telegram case. The preliminary injunction continues to prevent the delivery by Telegram Group Inc. and TON Issuer (collectively, Telegram) of … Continue Reading

Token Litigation Cases Reach Milestones, Stablecoins and CBDCs Gain Attention, CFTC Approves Guidelines for ‘Actual Delivery’ of Virtual Currency

In this issue: • Telegram, Kik and Tezos Cases Reach Milestones in Blockchain Token Litigation • Stablecoins and Central Bank Digital Currencies Gain Attention • CFTC Approves Guidelines for Delivery of Virtual Currencies, Web Browser Integrates Cryptocurrency Trading Telegram, Kik and Tezos Cases Reach Milestones in Blockchain Token Litigation By Teresa Goody Guillén and Robert … Continue Reading

Multiple Blockchain Enterprise and Crypto Payment Initiatives Announced, New Crypto AML Rules in Canada and Singapore, DOJ Enforcement Continues

In this issue: • Blockchain Traceability Developments for Automobile, Pharma and Art Industries • Blockchain Identity and Privacy Solution Developments, Ethereum Used to Avoid Censors • Blockchain Payment Initiatives Introduced in India, Latin America, Thailand and US • New Cryptocurrency Anti-Money Laundering Rules Announced in Canada and Singapore • DOJ Prosecutes Crypto Crimes, Analysis of … Continue Reading

Blockchain 50 Published, Exchanges Expand Services, Enforcement Actions by SEC, CFTC and International Tax Authorities, Hacks Drive Losses

In this issue: • Forbes Publishes Blockchain 50, Cryptocurrency Exchanges Expand Services • SEC Settles Charges Involving ICO, CFTC Takes Action Against Crypto Investment Firm • Dutch Tax Authorities Make Arrests, IRS Summit to Address Cryptocurrencies • Manipulation, Hacks and System Errors Lead to Losses for Cryptocurrency Users and Exchanges Forbes Publishes Blockchain 50, Cryptocurrency … Continue Reading

Foreign Regulators Issue Approvals and Guidance, SEC Enforcement Continues, Blockchain Trade Groups File Amicus Briefs, Reports Detail Terrorist Financing Risks

In this issue: • New Approvals From European and Thai Regulators, Canada and WEF Publish Guidance • SEC Targets ICOs, IRS Updates Crypto FAQs, UK Tax Agency Seeks Blockchain Analytics Tool • Chamber of Digital Commerce and Blockchain Association Weigh In on SEC v. Telegram • Reports Address Cryptocurrency Terrorist Financing Risks New Approvals From … Continue Reading

Blockchain Developments: Crypto Custody and Payments, Supply Chain Pilots, Regulation and Enforcement

In this issue: • Cryptocurrency Custody, Payments and Mining Initiatives Announced • Blockchain Provenance and Authentication Solutions Emerging in Food and Manufacturing Markets • Recent Global Regulatory Developments in Digital Assets • U.S. and International Enforcement Agencies Take Action Against Crypto Crimes • Crypto Tax Update: Foreign Accounts, Like-Kind Exchanges, Software Uptick Cryptocurrency Custody, Payments … Continue Reading

Industry Token Standards Published, Supply Chain Pilots Expand, Foreign Crypto Guidance Issued, US Enforcement Actions Continue

In this issue: • Token Taxonomy Framework Published, Blockchain Supply Chain Pilots Expand • Stellar Burns Tokens, New Cryptocurrency Market Data and Studies Released • Blockchain Startup Receives Transfer Agent License, UK and Hong Kong Issue Crypto Guidance Enforcement • Multiple US Agencies Bring Enforcement Actions, Report Describes North Korea Crypto Sanctions Evasion Token Taxonomy … Continue Reading

Blockchain Pilots Move Forward in Food Supply Chain, Land Registries and Buying Coffee with Crypto; Regulators Grant Approvals and Continue Enforcement

In this issue: • Coffee Conglomerate Set to Accept Bitcoin in 2020 as Cryptocurrency Adoption Continues to Rise • Blockchain Capital Markets Firms Achieve New Approvals in US and Abroad • Blockchains Take Another Bite Into Food Tracking; Land Registry Pilot Takes Off in Latin America • US Agencies Join Global Innovation Network, Crypto Enforcement … Continue Reading

UNICEF Launches Crypto Fund, Class Action Alleges Price Manipulation, US Enforcement Continues, More Ransomware and Hacks

In this issue: • Crypto and Blockchain Capital Markets News From UNICEF, Europe and Hong Kong • Blockchain and Cryptocurrency Payment Applications Introduced Across Jurisdictions • Class-Action Suit Filed Against Bitfinex/Tether, US Enforcement Actions Continue • Incidents of Ransomware, Cryptocurrency Hacks and Malware Continue Crypto and Blockchain Capital Markets News From UNICEF, Europe and Hong … Continue Reading

Alert: IRS Issues New Guidance and FAQs on Virtual Currencies

On Oct. 9, the Internal Revenue Service (IRS) issued additional guidance regarding the taxation of cryptocurrency. The guidance comes more than five years after the IRS issued Notice 2014-21, the first and, until now, only official guidance regarding cryptocurrency. Revenue Ruling 2019-24 (the Revenue Ruling) reaffirms that virtual currency is treated as property and does … Continue Reading

Invoices Paid on Ethereum, FINRA Application Approved, SEC/ICO Enforcement, Industry Launches Compliance Initiative

In this issue: • Smart Contracts Deployed by Icelandic Retailer, Blockchain for Sneakers and DHS • Cryptocurrency Service Providers Target Mainstream Investors, FINRA Application Approved • SEC, DOJ and State Agency Enforcement Actions for ICOs and Crypto Fraud Schemes • Regulatory Problems and Solutions in the Cryptocurrency and Digital Asset Arena Smart Contracts Deployed by … Continue Reading

Interbank Settlement Initiative and Crypto Payment Solutions Expand, SEC and International Enforcement Actions Continue

In this issue: • Blockchain Developments in Interbank Settlement, Capital Markets, Cryptocurrency Payments • Multiple SEC Enforcement Actions, New Treasury Sanctions, More Crypto-Mining Malware Detected • International Crypto Developments: Tax, FATF Compliance, Enforcement Actions Blockchain Developments in Interbank Settlement, Capital Markets, Cryptocurrency Payments By: Robert A. Musiala Jr. According to reports this week, a major … Continue Reading
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