Sports Teams and Messaging Apps Go All-In on NFTs, Potential Hack
Foiled -
A major U.S. football team has reportedly inked a lucrative sponsorship deal with a popular digital asset platform. According to reports, the...more
4/18/2022
/ ATMs ,
Bitcoin ,
Blockchain ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
FinTech ,
Hackers ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Regulatory Agenda
On Jan. 1, 2021, Congress passed the Anti-Money Laundering Act of 2020 (AMLA) which expanded the definition of “financial institution” to impose anti-money laundering (AML) requirements on persons “engaged in the trade of...more
2/14/2022
/ Anti-Money Laundering ,
Art Auctions ,
Art Galleries ,
Financial Institutions ,
FinCEN ,
Fine Art ,
Market Participants ,
Museums ,
Non-Fungible Tokens (NFTs) ,
Online Marketplace ,
U.S. Treasury
Key Takeaways - Corporate enforcement and individual accountability are high priorities for new DOJ Criminal Division head Kenneth Polite. Companies should be proactive in implementing, monitoring, and improving their...more
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...more
Fractionalized non-fungible tokens (NFTs) have become increasingly popular within the ever-developing field of cryptocurrency, particularly in the distribution of digital art. NFTs use the same technology behind...more
On July 28, 2020, the U.S. Senate Permanent Subcommittee on Investigations released its findings on the role of the unregulated art market in undermining U.S. sanctions policies and facilitating criminal activity....more
On January 12, 2021, the Department of Justice (the “DOJ”) settled its first civil action for alleged fraud against the Paycheck Protection Program (the “PPP”) – the primary lending program under the Coronavirus Aid, Relief,...more
1/27/2021
/ CARES Act ,
Civil Liability ,
Civil Monetary Penalty ,
Corporate Counsel ,
Damages ,
Department of Justice (DOJ) ,
False Claims Act (FCA) ,
False Statements ,
FIRREA ,
Fraud ,
Loans ,
Paycheck Protection Program (PPP) ,
SBA ,
White Collar Crimes
The question of how to define the parameters of personal liability for compliance officers in the financial services industry has been around for several years. In a 2015 speech, then-SEC Enforcement Director Andrew Ceresney...more
In March 2020, the U.S. government took extreme measures to crack down on the spread of COVID-19, including largely shutting down international air travel. However, no quarantine, lockdown, or social distancing measure...more
In the wake of the novel coronavirus disease outbreak, more formally known as COVID-19, businesses and other entities have found it increasingly difficult to continue operating in an uncertain environment. Nonprofits in...more
BakerHostetler’s White Collar, Investigations and Securities Enforcement and Litigation team is pleased to release its 2018 Year-End Cross-Border Government Investigations and Regulatory Enforcement Review, a resource for...more
4/3/2019
/ Blockchain ,
CFTC ,
Corruption ,
Cross-Border ,
Cryptocurrency ,
Cyber Crimes ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Foreign Corrupt Practices Act (FCPA) ,
General Data Protection Regulation (GDPR) ,
Initial Coin Offering (ICOs) ,
Money Laundering ,
Popular ,
Securities Fraud ,
Trade Secrets ,
Whistleblowers