News & Analysis as of

Cryptoassets Enforcement Actions Decentralized Finance (DeFi)

BakerHostetler

Weekly Blockchain Blog - September 2024

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Crypto Payments Firms Announce New Integrations and Initiatives - According to reports, fintech bank Revolut recently announced a partnership with Ledger, a major crypto hardware wallet provider, to make it easier for...more

Ankura

Crypto Asset Investigations: Key Considerations and Pitfalls

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Crypto assets are some of the most rapidly evolving and increasingly adopted assets in the world. Decentralized Finance (DeFi) is emerging as a blockchain-based alternative to traditional banking and financial services and...more

BakerHostetler

Weekly Blockchain Blog – March 2024 #4

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Hyperledger Announces Financial Group, Exchange Adds Custody Service - According to a recent press release, Hyperledger Foundation, a global ecosystem for enterprise-grade blockchain technologies, has announced that two...more

The Volkov Law Group

SEC Settlement with BarnBridge DAO and its Founders for Securities Violations Highlights Legal Risks for DAOs and DeFi

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On December 23, 2023, BarnBridge DAO (“BarnBridge”) and its founders, Tayler Ward and Troy Murray, agreed to settle charges with the U.S. Securities and Exchange Commission (“SEC”).  BarnBridge violated Sections5(a) and 5(c)...more

American Conference Institute (ACI)

[Event] 2nd Forum on Digital Assets Compliance: AML, Sanctions and Regulatory Oversight - October 17th - 18th, New York, NY

With so many new, emerging risks coming to the forefront, ACI is excited to announce our Digital Assets Compliance: AML, Sanctions and Regulatory Oversight. Unlike other conferences, this highly anticipated event stands apart...more

McDermott Will & Emery

CFTC Crackdown: Three DeFi Platforms Face Enforcement Actions

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On September 7, 2023, the Commodity Futures Trading Commission (CFTC) simultaneously filed and settled charges against three decentralized finance (DeFi) platforms, signaling a significant step toward CFTC regulatory...more

BakerHostetler

Exchange Approved to Offer Crypto Futures; Wallet Integrates with Fintech Firm; SEC and CFTC Continue Crypto Enforcement; DeFi...

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US Exchange Approved for Crypto Futures; Wallet Integrates with Fintech Firm - A major U.S. cryptocurrency exchange recently announced that it has secured regulatory approval from the National Futures Association (NFA) to...more

BakerHostetler

FedNow Instant Payments Service Launches; GAO Recommends Oversight of Crypto Assets; SEC, CFTC, DOJ Continue Crypto Enforcement;...

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U.S. Central Bank Launches Instant Payment Service - A recent press release by the U.S. central bank announced that “its new system for instant payments, the FedNow® Service, is now live.” According to the press release,...more

Jones Day

Federal Agencies Coordinate Action Against Celsius for Fraud and Manipulation

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In Short - The Situation: In parallel federal actions, the Department of Justice ("DOJ"), Securities and Exchange Commission ("SEC"), Commodity Futures Trading Commission ("CFTC"), and Federal Trade Commission ("FTC")...more

BakerHostetler

New Crypto Payment and Web3 Products Launch; UK Seeks Input on DeFi Taxation; OFAC Fines Crypto Exchange; SEC, DOJ, CFTC Continue...

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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

Proskauer - Blockchain and the Law

CFTC Enforcement Highlights Potential Compliance Risks to Crypto Exchanges for Derivatives Trading

Binance is the latest major crypto industry player to be sued by a U.S. regulator. On March 27, 2023, the CFTC announced that it had filed a civil enforcement action against Binance Holdings Limited (and related legal...more

WilmerHale

CFTC 2022 Enforcement and Regulatory Developments and a Look Forward

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The year 2022 was a historic year for the Commodity Futures Trading Commission (“CFTC” or the “Commission”). Just four days into the new year, on January 4, 2022, Rostin Behnam was sworn in as the CFTC’s 15th Chairman. Three...more

Orrick, Herrington & Sutcliffe LLP

Company to pay $45 million to SEC, states for unregistered crypto-lending product

On January 19, the SEC charged a Cayman Islands digital asset firm for allegedly failing to register the offer and sale of its retail crypto-asset lending product. According to the SEC’s cease-and-desist order ...more

Hogan Lovells

Virtual Asset Snapshot – Hong Kong

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The Regulation of Virtual Assets in Hong Kong – nature, features and risk determine treatment Regulation of virtual assets (including cryptocurrencies) (“VA”) in the Hong Kong Special Administrative Region (“Hong Kong”) has...more

Proskauer Rose LLP

CFTC Head Urges Congressional Action on Crypto while SEC Leader Says Crypto Rulemaking is “Years Away”

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In congressional testimony on Thursday, September 15, U.S. Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam urged U.S. Senators to pass a bill that would explicitly grant the CFTC broad regulatory oversight...more

White and Williams LLP

Cryptocurrency Regulations and How They May Impact Private Investment Funds

Over the last five years, decentralized finance (DeFi), especially cryptocurrencies and other digital assets are a space that continues to grow at an exponential rate, not only for retail investors but also for private...more

Goodwin

SEC Enforcement Broadens Its Crypto Focus

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On May 6, 2022, the U.S. Securities and Exchange Commission announced that it settled charges against NVIDIA Corporation alleging that the company’s disclosures regarding the impacts of increased use of its gaming products by...more

Kilpatrick

Crypto Enforcement Is Here, and Always Has Been

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There are those in the crypto sphere who, despite the strong warnings of several federal agencies, believe there can be no enforcement without crypto specific regulation. This is not the case. There are also those who believe...more

Katten Muchin Rosenman LLP

The State of Futures: Emerging Trends and Enforcement Priorities

The CFTC and the exchanges have plenty of activity in the futures space. During a Futures session at Katten's annual Financial Markets Litigation and Enforcement Symposium Series, Katten attorneys and guests discussed swap...more

Jones Day

Regulating the Ether: Lessons for the MENA Digital Asset Industry from U.S. Enforcement Actions

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As the global digital asset industry continues to grow, regulators worldwide have increased efforts to define and shape the legal landscape through various approaches. In the UAE, for example, the Financial Services...more

Jones Day

Crypto and DeFi Platforms: Aggressive SEC Enforcement on the Way?

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SEC Chairman Gary Gensler has left little doubt that his commission will closely monitor activity in the cryptoasset markets and the actions of decentralized finance, or DeFi platforms, as investor interest continues to grow....more

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