BIS Releases Survey on CBDC Initiatives; New Crypto Products Launch -
The Bank for International Settlements (BIS) recently released the results of its 2021 survey of central bank digital currencies (CBDCs). According to...more
5/16/2022
/ Casinos ,
Central Bank Digital Currency (CBDCs) ,
CFTC ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Exchange-Traded Products ,
Korea ,
Metaverse ,
Non-Fungible Tokens (NFTs) ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
SDN List ,
Securities and Exchange Commission (SEC) ,
Security Risk Assessments ,
Stablecoins
Key Takeaways -
..SEC enforcement actions related to crypto and cyber are expected to significantly increase with the additional 20 staff assigned to the Division of Enforcement unit dedicated to these industries....more
Crypto Payment Initiatives Announced in Stablecoins, Lightning Network, Mining -
Late last week, the issuer of USD Coin (USDC) announced that it had selected a major U.S. bank as a primary custodian for USDC reserves....more
4/11/2022
/ Bitcoin ,
Bitcoin Mining ,
Cryptoassets ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Distributed Ledger Technology (DLT) ,
Economic Sanctions ,
HM Treasury ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Proposed Legislation ,
Russia ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
UK ,
Ukraine ,
United Nations
This week a U.S. investment bank announced the public launch of its digital asset division. According to a press release, “the new division offers full-service trade execution and custody solutions on a platform that provides...more
A large U.S.-based financial services company launched its crypto services arm last week, providing consumers with a platform to buy and sell cryptocurrencies and non-fungible tokens (NFTs). According to reports, the...more
3/21/2022
/ Bitcoin ,
Blockchain ,
Cryptoassets ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Currency ,
Digital Wallets ,
Ethereum ,
Extradition ,
Financial Services Industry ,
Foreign Exchanges ,
Non-Fungible Tokens (NFTs) ,
Ransomware ,
Retirement Plan
On March 9, 2022, President Joe Biden signed the Executive Order on Ensuring Responsible Development of Digital Assets (EO) and the White House released a corresponding fact sheet summarizing related key policy objectives. As...more
Key Takeaways -
..Banks and cryptocurrency exchanges need to update their BSA programs to account for the unique aspects of cryptocurrencies, detect and report related suspicious activity, and minimize the risk of...more
2/17/2022
/ BSA/AML ,
Compliance ,
Corporate Criminal Fines ,
Criminal Prosecution ,
Crypto Exchanges ,
Cryptocurrency ,
Cyber Crimes ,
Department of Justice (DOJ) ,
Digital Currency ,
FBI ,
Financial Institutions ,
FinCEN ,
Policies and Procedures ,
U.S. Treasury ,
White Collar Crimes
U.S. Bank Seeks to Launch Stablecoin; New Crypto Payments Data Released -
A well-known digital payments consortium sold its technology platform this week to a U.S.-based bank known for its cryptocurrency-related offerings....more
2/7/2022
/ Bitcoin ,
Blockchain ,
Cryptocurrency ,
Cyber Attacks ,
Decentralized Finance (DeFi) ,
ETFs ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
FinTech ,
Hackers ,
Money Laundering ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Scams ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
Wash Trades
Crypto Payments Consortium Sells Assets; Other Crypto Firms Make Moves -
A well-known digital payments consortium announced this week that it will sell its blockchain-based technology to a large cryptocurrency-focused U.S....more
1/31/2022
/ Bitcoin ,
Blockchain ,
Central Bank Digital Currency (CBDCs) ,
Criminal Prosecution ,
Cryptocurrency ,
Department of Justice (DOJ) ,
FinTech ,
GAAP ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Securities and Exchange Commission (SEC)
US Banks Launch New Stablecoin, Data Shows Increasing Interest in Crypto -
In a recent press release, an association of FDIC-insured financial institutions announced the launch of the USDF Consortium (Consortium). The...more
From Music to Marketplaces: NFT Use Cases Continue to Expand - According to recent reports, a Philadelphia rapper has announced that the final installment of his mixtape series will drop as a non-fungible token (NFT). Details...more
Financial Messaging Network Launches Experiments in Stablecoin Sector - A global messaging network used by financial institutions to send and receive financial information recently announced that it is exploring the tokenized...more
Raising Municipal Funds and Rewarding Loyalty: New Cryptocurrency Use Cases - Earlier this week, a cryptocurrency nonprofit organization reportedly launched a Bitcoin-based digital asset designed to raise funds for New York...more
New Crypto Payment Products Launch, Report Cites Exchange Consolidation - This week, a major U.S. financial services firm announced its partnership with three leading cryptocurrency service providers in the Asia Pacific...more
Financial Firms Integrate Crypto Products, New Bitcoin Network Data Published - This week, a large financial services corporation and a digital wallet app company announced a partnership to reduce friction among merchants,...more
Crypto Products Launch in Payments, ETFs, DeFi; Bitcoin Mining Data Published - This week, a digital asset marketplace announced a partnership with a major multinational technology company specializing in Internet and...more
Major Financial Institutions Announce Crypto and Blockchain Initiatives - According to reports this week, one of the largest money transfer services in the world will partner with the Stellar Development Foundation to...more
CBDCs Explored by the U.K., New Zealand and Major Payments Network - This week, the Bank of England and Her Majesty’s Treasury announced the members appointed to its central bank digital currency (CBDC) Engagement and...more
Traditional Financial Firms Pursue Crypto and Blockchain Market Offerings -Earlier this week, a major Dutch financial institution reportedly became the sixth broker-dealer to join forces with the first blockchain-based...more
US Firm Acquires Crypto Co., Swiss Digital Asset Exchange Gains License - In a recent press release, a major U.S. financial services firm announced its acquisition of CipherTrace, a blockchain analytics and cryptocurrency...more
Alcohol, Athletics, and Art: NFT Adoption Continues to Expand - To celebrate National Rum Day, a privately held liquor label has reportedly launched a platform from which it will auction a specially designed non-fungible...more
CBDC Initiatives Announced, Blockchain Trade Finance Platform Launches - This week, the Bank for International Settlements (BIS) announced Project Dunbar, an initiative in which BIS will collaborate with the Reserve Bank of...more
9/7/2021
/ Bitcoin ,
Blockchain ,
Central Bank Digital Currency (CBDCs) ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Digital Currency ,
Financial Markets ,
Fraud ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Securities and Exchange Commission (SEC) ,
Virtual Currency
Crypto Market Develops in DeFi, Payments, Compliance and Consumer Adoption - A large institutional financial and media conglomerate recently announced a partnership with a major financial services and investment management...more
8/30/2021
/ Blockchain ,
CFTC ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Digital Assets ,
Digital Currency ,
Financial Markets ,
Non-Fungible Tokens (NFTs) ,
Online Marketplace ,
Popular ,
Securities and Exchange Commission (SEC) ,
Virtual Currency
Crypto Firms Pursue Bank Charters, Traditional Financial Firms Integrate Crypto - This week, the Wyoming Division of Banking granted a new Special Purpose Depository Institution (SPDI) bank charter to Commercium Financial...more
New Crypto Products Launch in Payment Cards, Gold and Sandwiches - Coinjar, an Australian cryptocurrency exchange, recently announced its launch of a payment card backed by a major U.S. credit card and financial services...more