Tag Archives: SEC

New Crypto Payment and Web3 Products Launch; UK Seeks Input on DeFi Taxation; OFAC Fines Crypto Exchange; SEC, DOJ, CFTC Continue Enforcement

Photo of Robert A. MusialaPhoto of Keith R. MurphyPhoto of Lauren BassBy Robert A. Musiala, Keith R. Murphy and Lauren Bass on Posted in Blockchain
In this issue: • Multiple Financial Services Firms Announce New Crypto Products• Mutual Fund Integrates with Polygon, US Exchanges Launch Offshore Platforms• Web3 Initiatives Launch for NFT Ticketing, Protocol Infrastructure• UK Seeks Input on Proposed Modifications to Tax Rules Applicable to DeFi• OFAC Announces $7.6 Million Settlement with Crypto Exchange• SEC and State Securities Regulators … Continue Reading

U.S. Treasury Dept. Publishes Risk Assessment Addressing Illicit Finance Risks of DeFi

Photo of Robert A. MusialaPhoto of Teresa Goody GuillénPhoto of Joanna F. WasickPhoto of Kevin EdgarPhoto of Adam GalePhoto of Jonathan A. FormanPhoto of Veronica ReynoldsPhoto of Christopher LambBy Robert A. Musiala, Teresa Goody Guillén, Joanna F. Wasick, Kevin Edgar, Adam Gale, Jonathan A. Forman, Veronica Reynolds and Christopher Lamb on Posted in Alert
Fintech (Financial technology) concept.Background and Scope The Assessment was drafted by Treasury’s Office of Terrorist Financing and Financial Crimes (“TFFC”), in consultation with multiple U.S. agencies, including the Departments of Homeland Security, Justice, and State; the Commodity Futures Trading Commission (“CFTC”); Office of the Comptroller of the Currency; and the Securities and Exchange Commission (“SEC”). The TFFC also … Continue Reading

DOJ, CFTC and SEC Bring Separate Actions for the Same Conduct: Alleged Digital Asset Manipulation and Fraud Scheme on Mango Markets Platform

Photo of Teresa Goody GuillénPhoto of Joanna F. WasickPhoto of Veronica ReynoldsPhoto of Sydney ParkBy Teresa Goody Guillén, Joanna F. Wasick, Veronica Reynolds and Sydney Park on Posted in Enforcement
Mango Markets is a decentralized cryptocurrency exchange that allows users to purchase and borrow cryptocurrencies and cryptocurrency-related financial products. Mango Markets is run by the Mango Decentralized Autonomous Organization (Mango DAO), which has its own crypto token named MNGO. Holders of MNGO tokens can vote on changes to Mango Markets and other issues related to … Continue Reading

Crypto Market Data Published; Digital Assets RFI Issued; BIS Addresses DeFi; NY DFS Issues Crypto Guidance; SEC Brings Crypto Actions; FBI Addresses Hacks

Photo of Amos KimPhoto of Veronica ReynoldsPhoto of Lauren BassPhoto of Christopher LambPhoto of Robert A. MusialaPhoto of Teresa Goody GuillénPhoto of Joanna F. WasickBy Amos Kim, Veronica Reynolds, Lauren Bass, Christopher Lamb, Robert A. Musiala, Teresa Goody Guillén and Joanna F. Wasick on Posted in Cryptocurrency
BlockchainIn this issue: Reports Address Crypto Ownership, Stablecoins and Dapp Adoption By Amos Kim Recent reports provide new data on various areas of the digital asset market. In one report, a survey published by a cryptocurrency trading platform found “a significant rise in crypto ownership among young women.” Among other things, the survey found that … Continue Reading

Disclosing Cryptocurrency Risks: SEC Comment Letter Puts Companies On Notice

Photo of John J. CarneyPhoto of Teresa Goody GuillénPhoto of Robert A. MusialaPhoto of Joanna F. WasickPhoto of Lauren BassBy Jonathan R. Barr, John J. Carney, Jimmy Fokas, Teresa Goody Guillén, Robert A. Musiala, Joanna F. Wasick and Lauren Bass on Posted in Cryptocurrency
The U.S. Securities and Exchange Commission (SEC) Division of Corporation Finance (CorpFin) recently issued guidance (Guidance), including a “Dear Issuer” Sample Letter (Sample Letter) to assist companies in meeting their statutory disclosure obligations in light of the recent crypto downturn. Read the full Alert.… Continue Reading

Crypto Research Published; USPTO Seeks NFT Input; SEC and FINRA Address Digital Assets; OFAC Settles with Exchange; DOJ Enforcement Continues

Photo of Robert A. MusialaPhoto of Lauren BassPhoto of Sydney ParkPhoto of Teresa Goody GuillénPhoto of Joanna F. WasickPhoto of Amos KimPhoto of Christopher LambBy Robert A. Musiala, Lauren Bass, Sydney Park, Teresa Goody Guillén, Joanna F. Wasick, Amos Kim and Christopher Lamb on Posted in Blockchain
In this issue: • New Research and Surveys Address CBDCs, Institutional Crypto Investment• NFTs: Government Agencies Seek Comments on NFT IP; New Marketplaces Open• Crypto DEX and Wallet Providers Reveal User Data Collection Practices• SEC Commissioner Addresses Digital Assets and Investor Protection Concerns• SEC Institutes Proceedings Against DAO; FINRA Examines Crypto Advertising• New York State … Continue Reading

US District Court Finds LBRY Tokens Are Securities

Photo of Teresa Goody GuillénPhoto of Joanna F. WasickPhoto of Adam GalePhoto of Kevin EdgarPhoto of Robert A. MusialaPhoto of Veronica ReynoldsPhoto of Sydney ParkBy Teresa Goody Guillén, Joanna F. Wasick, Adam Gale, Kevin Edgar, Robert A. Musiala, Veronica Reynolds and Sydney Park on Posted in Alert
In 2016, crypto startup LBRY launched the LBRY network and the LBRY protocol, described by LBRY as a decentralized content sharing and publishing protocol that supports the creation of community-run digital marketplaces. The same year, LBRY offered and sold native LBC tokens to the public for the purported purpose of allowing LBRY users to compensate … Continue Reading

CBDC Report Published; Crypto and NFT Initiatives Launch; OFAC Redesignates Tornado Cash; SEC and CFTC Target Crypto Fraud; FTX Files for Bankruptcy

Photo of Robert A. MusialaPhoto of Veronica ReynoldsPhoto of Amos KimPhoto of Joanna F. WasickPhoto of Christopher LambBy Robert A. Musiala, Veronica Reynolds, Amos Kim, Joanna F. Wasick and Christopher Lamb on Posted in Blockchain
In this issue: • CBDC Report Published, Blockchain Settlement and Payment Initiatives Launch• NFT World Cup Initiative Launched, Market Actors Launch NFT Royalty Solutions• OFAC Redesignates Tornado Cash, Mixer Receives Hacked Crypto• SEC, CFTC Bring Enforcement Actions Involving Fraudulent Crypto Trading Bots• FTX Files Bankruptcy Amid Binance’s FTT Selloff and Incoming DOJ Probe CBDC Report … Continue Reading

Crypto Products Launch; FSB, OECD Address Crypto Regulation and Tax; US Exchange Fined $24M; DOJ and SEC Actions Continue; Major Hacks Reported

Photo of Robert A. MusialaPhoto of Teresa Goody GuillénPhoto of Keith R. MurphyPhoto of Sydney ParkPhoto of Joanna F. WasickBy Robert A. Musiala, Teresa Goody Guillén, Keith R. Murphy, Sydney Park and Joanna F. Wasick on Posted in Cryptocurrency
BlockchainIn this issue:• New Crypto Products Launch in Custody, Cloud Collaborations and Stablecoins• FSB Proposes International Crypto Regulation Framework, Solicits Comments• OECD Publishes Crypto Tax Framework; Acting Comptroller Addresses Crypto• Major US Crypto Exchange Fined Over $24M for FinCEN and OFAC Violations• DOJ Targets Crypto Money Laundering; SEC Reportedly Investigating Yuga Labs• October Sees Most … Continue Reading

New Crypto and NFT Products Launch; Treasury Publishes FSOC Digital Asset Report; SEC Brings Enforcement Actions Against Crypto Promoters, Fraudsters

Photo of Robert A. MusialaPhoto of Jordan R. SilversmithPhoto of Lauren BassPhoto of Shade QuaileyPhoto of Sydney ParkBy Robert A. Musiala, Jordan R. Silversmith, Lauren Bass, Shade Quailey and Sydney Park on Posted in Blockchain
In this issue: • Crypto Products Launch, Reports Detail CBDC Pilots and Bank Crypto Exposure• DAO Governing DAI Stablecoin Invests in US Treasuries and Corporate Bonds• Digital Collectibles + Physical Consumables: Brands Embrace Hybrid NFT Model• Treasury Releases Report on Digital Asset Financial Stability Risks/Regulation• SEC Brings Enforcement Actions Against Crypto Promoters and Fraudsters Crypto … Continue Reading

Crypto and NFT Firms Make Announcements; Treasury Interprets Crypto Reports; Crypto Enforcement Actions by CFTC, SEC, IRS, DOJ and States

Photo of Robert A. MusialaPhoto of Maya RiveraPhoto of Keith R. MurphyPhoto of Alex KarambelasPhoto of Joanna F. WasickPhoto of Jordan R. SilversmithBy Robert A. Musiala, Maya Rivera, Keith R. Murphy, Alex Karambelas, Joanna F. Wasick and Jordan R. Silversmith on Posted in Blockchain
In this issue: Exchange Reaches Agreement to Sell Assets; New Crypto Products Launch Reports Provide New Data on Cryptocurrency Adoption and Exchange Activity Auction House Launches NFT Market; Startup Launches NFT Cloud Database US Treasury Further Interprets Reports Related to EO on Digital Assets CFTC Enforcement Action Targets DAO; SEC Targets Crypto Market Making IRS … Continue Reading

SEC Chair Stands Firm: ‘Vast Majority’ of Cryptocurrency Tokens Are Securities

Photo of Teresa Goody GuillénPhoto of Joanna F. WasickPhoto of Kevin EdgarPhoto of Robert A. MusialaPhoto of Michelle TanneyPhoto of Veronica ReynoldsPhoto of Alex KarambelasPhoto of Jonathan A. FormanBy Teresa Goody Guillén, Joanna F. Wasick, Kevin Edgar, Robert A. Musiala, Michelle Tanney, Veronica Reynolds, Alex Karambelas and Jonathan A. Forman on Posted in Blockchain, White Collar
In prepared remarks delivered at the Practising Law Institute’s “SEC Speaks” program on Sept. 8, Chair Gensler emphasized and reiterated his long-standing position that the vast majority of cryptocurrency tokens are securities, and he noted that “only a small number of tokens, even though they may represent a significant portion of the crypto market’s aggregate … Continue Reading

NFT Initiatives Launch Across Markets; US Banking Regulators Address Crypto; DOJ and Congress Target Crypto Fraud; FBI Cites Risks as DeFi Hacks Continue

Photo of Robert A. MusialaPhoto of Christina GotsisPhoto of Joanna F. WasickPhoto of Jordan R. SilversmithBy Robert A. Musiala, Christina Gotsis, Joanna F. Wasick and Jordan R. Silversmith on Posted in Blockchain, Cryptocurrency, Government, NFT, NFTs
In this issue: • NFT Initiatives Launch in Ticket Sales, Social Media and College Football• US Banking Regulators Publish DeFi Analysis, Address Crypto in Speeches• DOJ Targets Crypto Fraud, House Subcommittee Addresses Consumer Risks• FBI Cites DeFi Hacking Threats as Hacks Continue; Reports Identify ISIS NFT NFT Initiatives Launch in Ticket Sales, Social Media and … Continue Reading

Crypto Products Launch, Gain Approvals; OFAC Sanctions Crypto Mixer; SEC Publishes ICO Consent Order; Report Cites Criminal Use of Cross-Chain Bridges

Photo of Robert A. MusialaPhoto of Kayley SullivanPhoto of Keith R. MurphyPhoto of Alex KarambelasPhoto of Lauren BassBy Robert A. Musiala, Kayley Sullivan, Keith R. Murphy, Alex Karambelas and Lauren Bass on Posted in Blockchain
In this issue: NY DFS Approves Crypto Platform, Prepaid Crypto Card to Launch in Argentina U.S. Department of the Treasury Sanctions Major Virtual Currency Mixer SEC Publishes ICO Consent Order, Crypto Exchange Discloses SEC Investigation Report Cites Money Laundering Risks of Cryptocurrency Cross-Chain Bridges NY DFS Approves Crypto Platform, Prepaid Crypto Card to Launch in … Continue Reading

SEC and DOJ Bring Parallel Crypto Insider Trading Cases; SEC Alleges Nine Tokens Are Securities

Photo of John J. CarneyPhoto of Kevin EdgarPhoto of Jonathan A. FormanPhoto of Adam GalePhoto of Teresa Goody GuillénPhoto of Robert A. MusialaPhoto of Veronica ReynoldsPhoto of Michelle TanneyBy John J. Carney, Kevin Edgar, Jonathan A. Forman, Adam Gale, Teresa Goody Guillén, Robert A. Musiala, Veronica Reynolds and Michelle Tanney on Posted in Blockchain
Significant parallel actions commenced this week by the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) bring crypto fraud enforcement into the spotlight, with the SEC alleging that multiple tokens listed on Coinbase are securities. In its first insider trading case of “crypto asset securities,” the SEC charged a former Coinbase product manager, his … Continue Reading

Crypto Products and Mining Initiatives Launch; Sports and Spirits Firms Embrace Blockchain; US Agencies Seek Crypto Input, Address Risks, Target Crimes

Photo of Robert A. MusialaPhoto of Keith R. MurphyPhoto of Lauren BassPhoto of Kayley SullivanPhoto of Joanna F. WasickPhoto of Alex KarambelasBy Robert A. Musiala, Keith R. Murphy, Lauren Bass, Kayley Sullivan, Joanna F. Wasick and Alex Karambelas on Posted in Blockchain
In this issue: • New European Crypto ETF Launches, Bitcoin Mining Sees Wider Adoption• Sports Leagues and Alcohol Brands Expand Blockchain Partnerships• Congress Addresses CBDC, Commerce Dept. Seeks Input on Digital Assets• SEC and FinCEN Officials Comment on Cryptocurrency Sector Risks• US Law Enforcement Targets Crypto Scams and Sanctions Evasion New European Crypto ETF Launches, … Continue Reading

Banks Expand Digital Asset Offerings; Crypto Market Actors Critique SEC Proposal; New OFAC Crypto Sanctions; Agencies Issue Warnings; DeFi Hacked

Photo of Robert A. MusialaPhoto of Keith R. MurphyPhoto of Joanna F. WasickPhoto of Christina GotsisPhoto of Alex KarambelasBy Robert A. Musiala, Keith R. Murphy, Joanna F. Wasick, Christina Gotsis and Alex Karambelas on Posted in Blockchain
In this issue: • Banks Expand Digital Asset Offerings, BIS Report Addresses CBDCs• Cryptocurrency Market Actors Publish Critiques of Recent SEC Proposal• OFAC Sanctions North Korean Crypto Hackers and Russian Crypto Miner• Law Enforcement in US, Australia Issue Warnings as DeFi Hacks Continue Banks Expand Digital Asset Offerings, BIS Report Addresses CBDCs By Keith R. … Continue Reading

Firms Expand Crypto Services; Networks Implement DAOs and Integrations; Congressmen Address SEC on Crypto; IRS and OECD Address Crypto Tax

Photo of Robert A. MusialaPhoto of Alex KarambelasPhoto of Veronica ReynoldsPhoto of Lauren BassBy Robert A. Musiala, Alex Karambelas, Veronica Reynolds and Lauren Bass on Posted in Blockchain
In this issue: Investment Bank and Cryptocurrency Exchanges Expand Crypto Services From Australia to Africa, Cryptocurrency Sees Continued International Adoption ApeCoin Drops; Juno Holders Confiscate Funds; Polygon Integrates Simba Chain Congressmen Question SEC on Crypto; OECD and IRS Address Crypto Taxation Investment Bank and Cryptocurrency Exchanges Expand Crypto Services By Robert A. Musiala Jr. This … Continue Reading

Crypto Payment Offerings Launch; Exchanges Achieve Foreign Approvals; Ukraine Legalizes Crypto; Regulators Issue Warnings; $28M in Bitcoin Seized

Photo of Robert A. MusialaPhoto of Veronica ReynoldsPhoto of Joanna F. WasickPhoto of Kayley SullivanPhoto of Alex KarambelasPhoto of Jordan R. SilversmithBy Robert A. Musiala, Veronica Reynolds, Joanna F. Wasick, Kayley Sullivan, Alex Karambelas and Jordan R. Silversmith on Posted in Blockchain
In this issue: Payments Firm Unveils Crypto Services, Exchanges Achieve Foreign Approvals Blockchain Network Developments: Ethereum 2.0, Wallets, DAOs and Mining Crypto Legalized in Ukraine; New Crypto Sanctions Screening Tools Launch Regulators Issue Warnings on Crypto Retirement Plans, ATMs and Sanctions DOJ Extradites Individual Charged with Ransomware; $28M in Bitcoin Seized Payments Firm Unveils Crypto … Continue Reading

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

U.S. Bank Acquires Blockchain Infrastructure; SEC Approves Blockchain-Based Exchange; FTC Warns on Crypto Scams; NFT Threats, Crypto Hacks Reported

Photo of Robert A. MusialaPhoto of Veronica ReynoldsPhoto of Jordan R. SilversmithPhoto of Lauren BassPhoto of Joanna F. WasickPhoto of Keith R. MurphyBy Robert A. Musiala, Veronica Reynolds, Jordan R. Silversmith, Lauren Bass, Joanna F. Wasick and Keith R. Murphy on 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

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

New Initiatives Launch in Stablecoins, CBDCs, Tokenized Securities, Supply Chain; Crypto Guidance Published for Credit Unions; CFTC Fines Events Market

Photo of Robert A. MusialaPhoto of Veronica ReynoldsPhoto of Keith R. MurphyPhoto of Lauren BassPhoto of Joanna F. WasickPhoto of Kayley SullivanBy Robert A. Musiala, Veronica Reynolds, Keith R. Murphy, Lauren Bass, Joanna F. Wasick and Kayley Sullivan on 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
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