News & Analysis as of

Blockchain Virtual Currency Money Laundering

Ballard Spahr LLP

Blockchain Analysis and Related Expert Testimony Admissible In Criminal Trial

Ballard Spahr LLP on

It is challenging for law enforcement to track down and trace illicit activities conducted through digital currencies. The process can be very time- and resource-intensive. Further, securing charges and arrests, and...more

BakerHostetler

Crypto Firms Launch New Initiatives; Whitepapers Address DeFi, Crypto Risks, CBDCs; OFAC Adds Crypto Addresses to SDN List...

BakerHostetler on

Crypto Firms Continue to Launch New Initiatives Across Markets - In a recent press release, digital asset infrastructure firm Fireblocks announced its acquisition of BlockFold, “a smart contract development and...more

K2 Integrity

The North Korean Crypto Threat

K2 Integrity on

Executive Summary - The North Korean threat to the crypto ecosystem is the highest form of immediate risk to the crypto-economy driven by a regime that seeks to profit from its misuse to reinforce its regime and fuel all its...more

Sheppard Mullin Richter & Hampton LLP

Blockchain Game Developers and FinCEN: When are State Money Transmission Laws Applicable?

The rising prevalence of crypto and virtual currencies has invited the scrutiny of several regulatory bodies who continue to grapple with the unique challenges posed by blockchain technology, FinCEN being one prime example....more

Dechert LLP

OFAC Sanctions Virtual Currency Mixer Tornado Cash

Dechert LLP on

The U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) on August 8, 2022, imposed sanctions against the popular decentralized virtual currency mixer Tornado Cash alleging that it has been used to launder...more

Husch Blackwell LLP

OFAC's Crackdown on Tornado Cash Protocol Raises Specter of Future Liability Concerns

Husch Blackwell LLP on

The Office of Foreign Assets Control (OFAC) recently made the unprecedented move of sanctioning a smart contract — a decentralized digital currency mixer called “Tornado Cash” — along with certain cryptocurrency addresses...more

Wilson Sonsini Goodrich & Rosati

No Foolish Transactions: A Few Guidelines for NFT Marketplace Participants to Mitigate Anti-Money Laundering Risks

The global NFT (non-fungible token) market now is worth dozens of billions of dollars annually. Innovators and early adopters, marketplaces, and sellers, are all eager to join this market but may have questions about how to...more

Foley & Lardner LLP

What GCs Exploring NFT, Web3 Opportunities Need to Know

Foley & Lardner LLP on

Companies across every industry are jumping into non-fungible tokens (NFTs), seeking to seize what they perceive as huge business opportunities. Attorneys working in the space see myriad reasons to be bullish, despite a...more

Manatt, Phelps & Phillips, LLP

Focus on Crypto and Blockchain: Regulatory Fog Begins to Lift, but Many Questions Remain

The cryptocurrency and blockchain industry has developed over the past decade with a large and increasingly glaring void: What regulations ultimately will apply and who will regulate the space? Much regulatory focus to date...more

Brownstein Hyatt Farber Schreck

NFTs: Gateway to Financial Independence or Litigation Risk?

NFTs—or “nonfungible tokens”—are everywhere. What was once seen as a collectors’ item for crypto geeks and LeBron James TopShop fanatics is now gaining popularity with a much wider audience. Take the recent example of the...more

Rivkin Radler LLP

Taxing NFTs as an Investment in “Art”

Rivkin Radler LLP on

Segue- Earlier this month, the Treasury released a study in which it examined how transactions in “high-value art” may facilitate the laundering of illicit proceeds.[i] The study also considered efforts that be undertaken by...more

Wilson Sonsini Goodrich & Rosati

Is Regulation of NFTs to Combat Financial Crime on the Horizon?

On February 4, 2022, the United States Department of the Treasury (the Treasury) issued a report titled, "Study of the Facilitation of Money Laundering and Terror Finance Through the Trade in Works of Art." The report...more

K2 Integrity

Crypto and Virtual Currency Risks

K2 Integrity on

The ABA/ABA Financial Crimes Enforcement Conference took place January 11-13, with K2 Integrity Managing Director Gabriel Hidalgo, who leads the firm’s Crypto and Fintech Advisory practice, leading an important conversation...more

Perkins Coie

DOJ’s New National Cryptocurrency Enforcement Team Portends Wave of Criminal Scrutiny

Perkins Coie on

On October 6, 2021, Deputy Attorney General Lisa O. Monaco announced that the U.S. Department of Justice (DOJ) is stepping further into the cryptocurrency fray by creating the National Cryptocurrency Enforcement Team (NCET)....more

Ballard Spahr LLP

The Basel AML Index 2021: Virtual Assets and Money Laundering. A Guest Blog.

Ballard Spahr LLP on

Global AML Compliance Faces Challenges Relating to Regulator Expertise, the Travel Rule, Decentralized Finance, and “Regulator Shopping”...more

McGlinchey Stafford

Cryptocurrency: Wild West or Wall Street? [More with McGlinchey, Ep. 22]

McGlinchey Stafford on

Every day, the mainstream media and social media are filled with references to cryptocurrency. Depending on who you ask, it’s either simply the next way to spend your money, or it’s a haven for criminal activity. In this...more

Polsinelli

Securing the Weakest Link U.S. Government’s Cryptocurrency Tracing Capacity on Full Display in Civil Forfeiture Action

Polsinelli on

The U.S. Department of Justice (“DOJ”) filed a civil forfeiture complaint detailing two hacks of virtual currency exchanges by North Korean actors.  These actors stole millions of dollars’ worth of cryptocurrency or other...more

Polsinelli

Take the Money and Run - Bitcoin Transfers (even within the same state) Provide Basis for Federal Jurisdiction in Money Laundering...

Polsinelli on

Earlier this month, the Ninth Circuit Court of Appeals affirmed the money laundering convictions of Thomas Costanzo, a bitcoin broker. According to Costanzo, the bitcoin transfers at issue, which originated from and were...more

Hogan Lovells

U.S. man charged with operating darknet-based bitcoin 'mixer' that laundered $300 million

Hogan Lovells on

The U.S. Department of Justice (DoJ) has indicted a man from Ohio for running Helix, a darknet-based cryptocurrency laundering service that is alleged to have laundered bitcoins worth $300 million....more

BakerHostetler

Blockchain Solutions Announced Across Industries, Crypto Threat Warnings Announced Across Agencies

BakerHostetler on

Blockchain Developments in Olive Oil, Shipping, Media and Real Estate - On Jan. 14, one of the largest producers of olive oil in the Mediterranean announced it would begin using blockchain to create a provenance record for...more

BakerHostetler

Details on Major New Cryptocurrency Announced, Enterprise Pilots and Enforcement Actions Continue

BakerHostetler on

Libra Cryptocurrency Plans Released, Crypto Exchanges and Payment Options Expand - This week, the world’s largest social media company published details on its plans to launch Libra, a new cryptocurrency that would be...more

Robinson+Cole Data Privacy + Security Insider

New FinCEN Cryptocurrency Guidance Clarifies Applicability of Anti-Money Laundering Regulations to Virtual Currency Business...

The Financial Crimes Enforcement Network (FinCEN) is the U.S. Treasury Department bureau charged with monitoring financial transactions in order to combat domestic and international money laundering, terrorist financing and...more

BakerHostetler

Manipulation Detected on ‘DEXes,’ Regulations Develop, Industry Initiatives Advance, Hacks, Money Laundering and Enforcement...

BakerHostetler on

Academics Detect Manipulation on ‘DEXes’ as Cryptocurrency Trading Expands - A recent academic paper by researchers at Cornell Tech and other academic institutions describes rampant trading manipulation on decentralized...more

Foodman CPAs & Advisors

Government Agencies are spending money to track down Virtual Currency

Foodman CPAs & Advisors on

Government agencies apparently believe that expertise from blockchain analytic firms is required to assist with investigating illicit activities such as tax evasion, money laundering, terrorist financing, and drug markets. ...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Hiding somewhat in the shadows during the rise of virtual currencies over the past year or two has been blockchain, the ledger technology that undergirds bitcoin and other cryptos, and its potential application beyond digital...more

30 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide