Tag Archives: Enforcement

The Four Areas Online Merchants and E-Commerce Companies Must Know About Cryptocurrency

By Jeewon Serrato and Robert A. Musiala on December 2, 2021 Posted in Cryptocurrency

Partner Jeewon Serrato and Counsel Rob Musiala discuss what online merchants and e-commerce companies should know about cryptocurrency. Questions & Comments: jserrato@bakerlaw.com, rmusiala@bakerlaw.com Listen to the episode. Subscribe to BakerHosts Apple Podcast | Google Podcast | iHeartRadio | Spotify | Stitcher | TuneIn Download Episode Transcript… 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

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

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

NFT Scandals Coincide with Increased Push for Crypto Regulation

By George Stamboulidis, Robert A. Musiala and Christina Gotsis on October 8, 2021 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

Market Updates in CBDCs, Crypto Funds, BD-ATS Platforms and Stablecoins; DOJ and CFTC Enforcement Continues; DeFi Error Releases Millions in Crypto

By Robert A. Musiala, Veronica Reynolds, Kayley Sullivan, Lauren Bass, Keith R. Murphy and Jordan R. Silversmith on October 1, 2021 Posted in Banking, Bitcoin, Cryptocurrency, Enforcement, Global, Government, NFTs

In this issue: • CBDCs Explored by the U.K., New Zealand and Major Payments Network • New Products Launch in Crypto Funds, BD-ATS Platforms and Stablecoins • Fashion, Sports, Graphic Novels and Art: NFT Market Continues to Expand • Crypto Enforcement: DOJ and CFTC Target Sanctions and Registration Violations • DeFi Error Releases Millions in … 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

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

By Teresa Goody Guillén, Jonathan A. Forman and Madison Gaudreau on September 2, 2021 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

By Robert A. Musiala, Veronica Reynolds, Lauren Bass, Teresa Goody Guillén, Keith R. Murphy and Joanna F. Wasick on August 27, 2021 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

By Robert A. Musiala, Veronica Reynolds, Joanna F. Wasick, Teresa Goody Guillén, Nicholas C. Mowbray and Kayley Sullivan on August 13, 2021 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

Cryptocurrency Payment Products and NFT Initiatives Launch, SEC Chairman Addresses Crypto, Pending Legislation Includes New Crypto Tax Reporting Rules

By Robert A. Musiala, Joanna F. Wasick, Lauren Bass, Veronica Reynolds and Nicholas C. Mowbray on August 6, 2021 Posted in Bitcoin, Blockchain, Cryptocurrency, Enforcement, NFTs

In this issue: • New Crypto Products Launch in Payment Cards, Gold and Sandwiches • More NFTs Launch in Sports, Fashion, Gaming and Charity Auctions • SEC Chairman, Kentucky and UK Address Various Aspects of Crypto Industry • Proposed Legislation Expands Crypto Tax Reporting, Senators Seek Amendment New Crypto Products Launch in Payment Cards, Gold … 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

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

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

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

Federal Reserve Addresses Digital Currencies, Financial Firms Announce Crypto Initiatives, Blockchain Solutions Announced, Enforcement Actions in US and Ukraine

By Robert A. Musiala and Jordan R. Silversmith on August 21, 2020 Posted in Blockchain, Cryptocurrency, Supply Chain

In this issue: • Federal Reserve Addresses CBDCs Amid Crypto Initiatives by US and Foreign Firms • Blockchain Initiatives Announced in Supply Chain, Voting, Ports and Collaborations • Crypto Enforcement Announced by SEC, DOJ, and Texas, Alabama and Ukraine Agencies Federal Reserve Addresses CBDCs Amid Crypto Initiatives by US and Foreign Firms By: Robert A. … Continue Reading

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

By Joanna F. Wasick, Jordan R. Silversmith and Brian P. Bartish on February 21, 2020 Posted in Enforcement, ICOs, Securities & Exchange Commission

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

Ethereum Fork Successful, Solutions Target Sneakers and Browsers, EU and NY Consider Regulations, Enforcement Actions Continue

By Joanna F. Wasick, Marc Powers, Simone O. Otenaike and Veronica Reynolds on December 13, 2019 Posted in Enforcement, ICOs, Securities & Exchange Commission

In this issue: • Ethereum Fork Implemented, Exchanges Expand Services, New Bitcoin Network Data • Enterprise Developments in Sneakers, Browsers, Copyrights and Private-Public Blockchain Integration • EU and NY Consider New Crypto Regulations, AML Report Published and Tools Debut • Enforcement Actions Target ICO Fraud and Ponzi Schemes, Assets Retrieved From Hacked Exchange Ethereum Fork … Continue Reading

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

By Diana Stern, Brian P. Bartish, Jonathan D. Blattmachr, Joanna F. Wasick and Nicholas C. Mowbray on November 22, 2019 Posted in Blockchain, Cryptocurrency, Food Supply Chain

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

By Robert A. Musiala, Joanna F. Wasick, Veronica Reynolds and Jordan R. Silversmith on November 8, 2019 Posted in Blockchain, Cryptocurrency

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

By Veronica Reynolds, Simone O. Otenaike, Diana Stern and Jordan R. Silversmith on November 1, 2019 Posted in Blockchain, Enforcement, Food Supply Chain

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