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Cadwalader, Wickersham & Taft LLP

First Stand-Alone Crypto Tax Fraud Case Leads to Guilty Plea

On September 12, 2024, the U.S. Department of Justice (“DOJ”) announced that Frank Richard Ahlgren III pleaded guilty to filing a false tax return underreporting gains from selling $3.7 million in Bitcoin. As we discussed...more

BakerHostetler

Weekly Blockchain Blog - June 2024 #4

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Crypto Companies Announce Licenses, Acquisitions, New Products - According to recent reports, a major Chicago-based digital asset trading desk recently obtained a BitLicense from the New York Department of Financial...more

BakerHostetler

Weekly Blockchain Blog - April 2024 #5

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Hong Kong Approves Crypto ETFs; Crypto Security, Payments Products Launch - According to recent reports, the Hong Kong Securities and Futures Trading Commission has conditionally approved the launch of the first spot...more

BakerHostetler

Reports Provide Data on Crypto Market Growth, Bitcoin Mining, FINRA Rule Violations, SEC Crypto Enforcement; DOJ Targets Crypto...

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New Data Published on Cryptocurrency Market Growth - CoinGecko recently released its 2023 Annual Crypto Industry Report. According to the report, “the crypto market experienced a surge in anticipation related to ETFs” and...more

Polsinelli

Blockchain+ Bi-Weekly - November 2023 #2

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The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more

BakerHostetler

CBDC Initiatives Advance in Colombia, Hong Kong; DOJ Charges Defendants in Mt. Gox Hack, BTC-e; CFTC Wins Ooki DAO Case; Crypto...

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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

BakerHostetler

Data Published on Crypto Exchange Volume, NFT Royalties, Crypto Crime; Crypto Adoption Continues; DOJ and CFTC Bring Multiple...

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New Data Published on 2022 Crypto Exchange Trading Volume, NFT Royalties - According to recent reports, Binance, currently the world’s largest cryptocurrency exchange by trading volume, controlled 92 percent of global...more

Davis Wright Tremaine LLP

U.S. Department of Justice Report Outlines Key Action Items to Address Criminal Activity Related to Digital Assets

A U.S. Department of Justice (DOJ) report released on September 16, 2022, will have a significant impact on the U.S. Government's ability to investigate and prosecute offenses involving digital assets....more

BakerHostetler

$3.6 Billion Reasons to Up Cryptocurrency Compliance: FBI Cracking Down on Crypto Criminals

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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

American Conference Institute (ACI)

[Event] 10th Edition of Fraud, Asset Tracing & Recovery - January 24th - 25th, Miami, FL

ACI’s and C5’s 10th Edition of Fraud, Asset Tracing & Recovery Miami conference is returning on January 24 – 25, 2022 in person! Deemed as the foremost, can’t-miss event for the Fraud community, it gathers the pre-eminent...more

Vinson & Elkins LLP

Founder and Operator of Bitcoin “Mixer” Pleads Guilty to Money Laundering Conspiracy

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Larry Dean Harmon, the founder and operator of Helix, a darknet-based cryptocurrency “mixer” or “tumbler,” recently admitted that Helix partnered with darknet marketplaces to provide bitcoin money laundering services for...more

Polsinelli

Down for the Count: Prosecutors Aim for Knockout Sentence in Floyd Mayweather-Backed-ICO Case

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Late last month, federal prosecutors in the Southern District of New York pushed for a heavy prison sentence against one of the founders of Centra Tech, Inc. (“Centra Tech”). As discussed earlier this year on the BitBlog,...more

Polsinelli

Wolf in Sheep’s Clothing: Bitclub Network Promoter Admits to Securities Fraud and Tax Offenses

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Joseph Frank Abel recently pled guilty to conspiring to offer and sell unregistered securities and to filing a false tax return in connection with his role in the BitClub Network, a cryptocurrency mining scheme worth at least...more

Polsinelli

Court Tells Asylum Seeker Fear of Retaliation by Homeland Does Not Justify Concealing Funds through Cryptocurrency

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Volodymyr Kvashuk, a Ukrainian citizen seeking asylum in the United States, was convicted for defrauding Microsoft of more than $10 million in digital currency. Evidence showed that Mr. Kvashuk used a program to steal gift...more

Hogan Lovells

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

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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

Hogan Lovells

Michigan man sentenced to prison and ordered to repay $210,000 in crypto scam

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A man from Michigan has been ordered to repay about $210,000 for his role in a cryptocurrency scam. The fraudster solicited investments from two people, promising them large returns, but he used the investment proceeds to buy...more

Robins Kaplan LLP

Financial Daily Dose 2.7.2020 | Top Story: Credit Suisse CEO Tiam Out in Wake of Corporate Spying Scandal

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Credit Suisse’s CEO Tidjane Thiam is out, to be succeeded next week by longtime company vet Thomas Gottstein. Thaim appeared to have ridden out the corporate spying scandal involving a former employee last year, and he had...more

Perkins Coie

Blockchain Week in Review - August 2019 #4

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U.S. Developments - Enforcement and Litigation Developments - Craig Wright Faces Sanctions - Craig Wright, the self-proclaimed inventor of Bitcoin, has been tied up in litigation since February 2018 related to his...more

Burr & Forman

SEC Investor Alert on Crypto Trading Websites

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The SEC recently issued an investor alert warning about crypto advisory and trading websites. The alert cautions investors to be especially wary of web-based crypto-currency sites with any...more

Dechert LLP

Does the ICO Open a New Chapter for RE Crowdfunding?

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Back in July of 2015, we blogged about “Current Marketplace Trends in Real Estate Crowdfunding”. How young and breathless we were, in hindsight, now that we’re tapped into the Next Big ICO thing. Yes, the “fintech” world...more

Perkins Coie

Guilt by Association: Bitcoin and the WannaCry Ransomware Attack

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The recent so-called “WannaCry” ransomware cyber-extortion attack has thrust bitcoin as a means of payment back into the debate surrounding illegal online activity. Much in the way that the internet, in its early days, was...more

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