CBDC Initiatives Advance in Colombia and Hong Kong -
According to a recent press release, a major U.S. fintech company and “leader in enterprise blockchain and crypto solutions” has announced a collaboration with Colombia’s...more
6/20/2023
/ Bitcoin ,
Blockchain ,
Central Bank Digital Currency (CBDCs) ,
CFTC ,
Colombia ,
Criminal Prosecution ,
Crypto Exchanges ,
Cryptocurrency ,
Decentralized Autonomous Organization (DAO) ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Currency ,
Digital Wallets ,
Hackers ,
Hong Kong ,
Popular
Crypto Firms Announce New Product Launches in Custody, Stablecoins, Wallets -
According to a recent press release, Prometheum Capital has received the first-ever approval from the Financial Industry Regulation Authority...more
6/5/2023
/ Broker-Dealer ,
CFTC ,
Criminal Prosecution ,
Cryptoassets ,
Cryptocurrency ,
Enforcement Actions ,
European Banking Authority (EBA) ,
Financial Services Industry ,
FinTech ,
Fraud ,
IOSCO ,
New Guidance ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
SDN List ,
Securities ,
State Attorneys General ,
United Arab Emirates (UAE)
ETH Staking Data Published, Blockchain Solutions Launch for Financial Services -
According to a recent report, Ethereum’s ether (ETH) staking rewards “hit a record 8.6% post-Merge, with validators earning $46 million in...more
5/15/2023
/ ATMs ,
Blockchain ,
Crypto Exchanges ,
Cryptocurrency ,
Digital Assets ,
Ethereum ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Hackers ,
Malware ,
Phishing Scams ,
Proposed Legislation ,
State Attorneys General ,
UK
Multiple Financial Services Firms Announce New Crypto Products -
A major U.S. financial services firm recently launched its Crypto Credential product, “a set of common standards and infrastructure that will help verify...more
5/8/2023
/ Blockchain ,
CFTC ,
Criminal Prosecution ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement ,
Enforcement Actions ,
Enforcement Priorities ,
Financial Services Industry ,
Fraud ,
Income Taxes ,
Office of Foreign Assets Control (OFAC) ,
Payment Methods ,
Popular ,
Securities and Exchange Commission (SEC) ,
UK
Montenegro Announces CBDC Pilot, BIS Compares CBDCs to Stablecoins -
According to a recent press release, “The Central Bank of Montenegro (CBCG) has agreed to collaborate with the enterprise crypto and blockchain solutions...more
4/17/2023
/ AML/CFT ,
Banks ,
Central Bank Digital Currency (CBDCs) ,
Cryptocurrency ,
Decentralized Autonomous Organization (DAO) ,
Decentralized Finance (DeFi) ,
Ethereum ,
EU ,
Financial Services Industry ,
Hackers ,
Popular ,
Risk Assessment ,
Stablecoins ,
Tax Liability ,
U.S. Treasury
Crypto Exchange Ends U.S. Operations, Swiss Bank to Expand Crypto Offerings -
Late last month, Bittrex, a leading cryptocurrency exchange founded in Seattle, announced it was closing U.S. operations effective April 30,...more
4/10/2023
/ Anti-Money Laundering ,
Commodities ,
Compliance ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Fraud ,
Money Laundering ,
National Futures Association ,
Ponzi Scheme ,
Popular ,
Scams ,
State Securities Regulators
Reserve Bank of Australia and BIS Commence Efforts to Advance CBDCs -
In a recent announcement, the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre (DFCRC) released details on an ongoing...more
3/13/2023
/ Bitcoin ,
Bureau of Industry and Security (BIS) ,
Central Bank Digital Currency (CBDCs) ,
Criminal Prosecution ,
Crypto Exchanges ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement Actions ,
FinTech ,
PCAOB ,
Risk Assessment ,
Securities and Exchange Commission (SEC)
Proof of Stake Alliance Publishes Analysis, Advocates for Industry Standards -
This week the Proof of Stake Alliance (POSA), a nonprofit industry alliance focused on proof of stake (PoS) ecosystems, announced their newly...more
2/27/2023
/ CFTC ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Enforcement Priorities ,
Financial Services Industry ,
Financial Transactions ,
Howey ,
Non-Fungible Tokens (NFTs) ,
Securities and Exchange Commission (SEC) ,
Unregistered Securities
DeFi, Stablecoin Products Launch; Bitcoin Network Spikes Due to NFTs -
According to reports, a new decentralized finance (DeFi) protocol recently launched that allows users to deposit the stablecoins USDC or DAI in a...more
2/13/2023
/ Bitcoin ,
Blockchain ,
Criminal Prosecution ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Assets ,
FASB ,
Individual Retirement Account (IRA) ,
Money Laundering ,
Non-Fungible Tokens (NFTs) ,
North Korea ,
Ransomware ,
Securities and Exchange Commission (SEC) ,
Securities Tokens ,
Stablecoins
White House Addresses Crypto Risks; Blockchain Firm Wins Air Force Contract -
The White House issued a statement last week briefly outlining the Biden administration’s road map to mitigate the risks of cryptocurrencies,...more
2/6/2023
/ Biden Administration ,
Bitcoin ,
Blockchain ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Ethereum ,
Executive Orders ,
Fraud ,
Hong Kong ,
Office of Foreign Assets Control (OFAC) ,
SDN List ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
UK
Paper Explores Benefits of DeFi for FX; Australian Bank Launches Stablecoin -
A recent industry paper found that DeFi can reduce costs and enhance transparency in foreign exchange (FX) markets. The paper concludes that...more
1/23/2023
/ Blockchain ,
Bureau of Industry and Security (BIS) ,
Cryptocurrency ,
Decentralized Autonomous Organization (DAO) ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement Actions ,
FinCEN ,
Online Platforms ,
Securities and Exchange Commission (SEC) ,
Stablecoins
Crypto Apps Launch New Features, Custody Firm Achieves CCSS Certificate -
According to recent reports, Uniswap V3 was the most used Ethereum contract in 2022, seeing over 15.5 million transactions throughout 2022 and using...more
1/9/2023
/ Cryptoassets ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Fraud ,
Fundraisers ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Risk Alert ,
Risk Assessment ,
Scams ,
Securities and Exchange Commission (SEC) ,
Unregistered Securities
Payments Firms Launch Crypto Products, New DeFi Price Indices Announced -
A U.S. fintech company recently announced the launch of a fiat-to-crypto on-ramp, which facilitates fiat-to-crypto payments using “a customizable...more
12/12/2022
/ AML/CFT ,
Bitcoin ,
Blockchain ,
Central Bank Digital Currency (CBDCs) ,
Compliance ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Enforcement Priorities ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
FinCEN ,
FinTech ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Royalties ,
Token Sales ,
Trading Platforms
New Crypto Market Data Published, Blockchain Settlement Pilot Announced -
The Bank for International Settlements (BIS) recently published the results of a study “to investigate the drivers of crypto adoption” by assembling a...more
In a sudden and stunning collapse, FTX, the world’s second largest cryptocurrency exchange, run by 30-year-old Sam Bankman-Fried along with more than 130 entities affiliated with FTX, filed for Chapter 11 bankruptcy...more
Crypto Products Launch in Debit Cards, Payment Gateways, Trading Platforms -
This week, two cryptocurrency financial services and trading platforms announced partnerships with traditional financial services companies to...more
10/31/2022
/ Bitcoin ,
Blockchain ,
Central Bank Digital Currency (CBDCs) ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Enforcement Actions ,
EU ,
FinTech ,
Malware ,
Metaverse ,
Non-Fungible Tokens (NFTs) ,
Payment Systems ,
Regulatory Authority ,
State Securities Regulators ,
Supply Chain
On October 11, 2022, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC) announced a $29 million civil monetary penalty against Bittrex, a...more
10/25/2022
/ Bank Secrecy Act ,
BSA/AML ,
Civil Monetary Penalty ,
Compliance ,
Consent Order ,
Crypto Exchanges ,
Cryptocurrency ,
Enforcement Actions ,
FinCEN ,
Office of Foreign Assets Control (OFAC) ,
Statutory Violations
New Crypto Products Launch in Custody, Cloud Collaborations and Stablecoins -
This week, a major U.S. financial institution announced that its Digital Asset Custody platform is now live in the United States. According to...more
10/17/2022
/ Bitcoin ,
Blockchain ,
Crypto Exchanges ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Currency ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
Financial Stability Board ,
FinCEN ,
Fines ,
Government Investigations ,
Hackers ,
Non-Fungible Tokens (NFTs) ,
OECD ,
Office of Foreign Assets Control (OFAC) ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
Statutory Violations
Exchange Reaches Agreement to Sell Assets; New Crypto Products Launch -
In a press release this week, Voyager Digital, a cryptocurrency exchange that recently filed for Chapter 11 bankruptcy, announced that it selected the...more
10/3/2022
/ Bitcoin ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Digital Currency ,
Financial Conduct Authority (FCA) ,
FinTech ,
Fraud ,
IRS ,
John Doe Investigation ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Scams ,
Securities and Exchange Commission (SEC) ,
U.S. Treasury ,
UK
Non-Fungible Marketing: Brands Continue to Launch NFTs -
A South Korean technology company has reportedly launched a weeklong promotion in the metaverse. According to reports, the virtual events occurred across multiple...more
9/26/2022
/ AML/CFT ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Digital Assets ,
Fraud ,
Hackers ,
Information Reports ,
Non-Fungible Tokens (NFTs) ,
Office of Foreign Assets Control (OFAC) ,
SDN List ,
Securities and Exchange Commission (SEC) ,
U.S. Treasury
Ethereum Network Completes Transition to Proof of Stake Consensus -
After years of development and delays, Ethereum’s long-awaited “merge” occurred this week, changing the network’s consensus mechanism from proof-of-work...more
9/19/2022
/ Biden Administration ,
Blockchain ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement ,
Enforcement Actions ,
Ethereum ,
Executive Orders ,
Impact Assessments ,
Non-Fungible Tokens (NFTs) ,
Office of Foreign Assets Control (OFAC) ,
Ponzi Scheme ,
Popular ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC)
NY DFS Approves Crypto Platform, Prepaid Crypto Card to Launch in Argentina -
According to a press release this week, the New York State Department of Financial Services (NY DFS) has authorized two subsidiaries of Zero...more
8/15/2022
/ Consent Order ,
Crypto Exchanges ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
MasterCard ,
Money Laundering ,
NYDFS ,
Office of Foreign Assets Control (OFAC) ,
Prepaid Payment Products ,
Securities and Exchange Commission (SEC) ,
U.S. Treasury ,
Virtual Currency
Bitcoin Network Mining Difficulty Continues Downward Trend Amid Heat Wave -
A recent analysis of Bitcoin mining activity has shown that Bitcoin Network mining difficulty dropped by 5 percent recently, continuing a...more
Foreign Regulators Approve Crypto Platforms; Ethereum Approaching PoS -
According to recent reports, several major cryptocurrency platforms have obtained regulatory approval from Italy’s Organismo Agenti e Mediatori (OAM)...more
7/25/2022
/ CFTC ,
Coinbase ,
Cryptoassets ,
Cryptocurrency ,
Darknet ,
Department of Justice (DOJ) ,
Digital Platforms ,
Ethereum ,
Fraud ,
Ransomware ,
RED List ,
Trading Platforms
Financial Firm Launches Crypto Group, MakerDAO Votes to Integrate with Bank -
A major multinational financial institution recently “announced the formation of its Digital Assets and Financial Markets group.” According to...more
7/11/2022
/ Basel Committee on Banking Supervision (BCBS) ,
Brand ,
CFTC ,
Cryptocurrency ,
Cyber Crimes ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Financial Action Task Force ,
Financial Institutions ,
Fraud ,
Hackers ,
Infringement ,
IP Litigation ,
New Guidance ,
Non-Fungible Tokens (NFTs)