News & Analysis as of

Cryptocurrency Money Laundering Digital Wallets

BakerHostetler

Deeper Dive: Understanding the 2023-24 Crypto Threat Landscape

BakerHostetler on

As the Web3 and digital assets ecosystem continues to grow, hacks, scams and other threats remain a major cause for concern and a potential impediment to broader adoption. Data from various sources indicates that after a year...more

BakerHostetler

Weekly Blockchain Blog - February 2024 #2

BakerHostetler on

U.S. Companies Announce Crypto Cashback and NFT Ticketing Initiatives - According to recent reports, a major U.S. credit card company has partnered with Swoo, a mobile wallet blending traditional and crypto payments, to...more

Ballard Spahr LLP

Bipartisan Group of Senators Re-Introduce the Digital Asset Money Laundering Act

Ballard Spahr LLP on

Legislation Targets Unhosted Wallets, Validators and Digital Asset ATMs - On July 28th, Senators Elizabeth Warren (D-Mass), Roger Marshall (R-Kan.), Joe Manchin (D-W.Va.) and Lindsey Graham (R-S.C.), reintroduced the...more

BakerHostetler

Crypto Research Published; USPTO Seeks NFT Input; SEC and FINRA Address Digital Assets; OFAC Settles with Exchange; DOJ...

BakerHostetler on

New Research and Surveys Address CBDCs, Institutional Crypto Investment - Staff from the board of governors of the U.S. central bank recently published a research paper addressing central bank digital currencies (CBDCs)....more

Polsinelli

Are You Being Served? Court Authorizes Service of Process Via Airdrop

Polsinelli on

In what may be the first of its kind, a New York state court has authorized service via token airdrop in a case regarding allegedly stolen cryptocurrency assets. This form of alternative service is novel but could become a...more

Nelson Mullins Riley & Scarborough LLP

The DOJ Throws Cold Water on the Frosties NFT Founders

The U.S. Attorney’s Office for the Southern District of New York recently charged two individuals for allegedly participating in a scheme to defraud purchasers of “Frosties” non-fungible tokens (or “NFTs”) out of over $1...more

Nelson Mullins Riley & Scarborough LLP

The DOJ Pulls the Rug on the Frosties NFT Founders

On March 24, 2022, the U.S Attorney’s Office for the Southern District of New York charged two individuals for their alleged participation in a scheme to defraud purchasers of non-fungible tokens (or “NFTs”) known as...more

Robinson+Cole Data Privacy + Security Insider

Recent Ransomware Attacks Call for More Oversight of Crypto-Transactions

After the attacks on JBS and Colonial Pipeline, the U.S. Treasury Department will likely consider increasing its enforcement of anti-money-laundering laws and adopt new reporting requirements for cryptocurrency transactions....more

Perkins Coie

Blockchain Week in Review - September 2020 #2

Perkins Coie on

U.S. Developments - Federal and State Regulatory Developments - U.S. Department of Homeland Security Issues Challenge for Development of Trusted User Interface for Digital Wallets - The U.S. Department of Homeland Security...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

Ballard Spahr LLP

IRS CI Highlights International Efforts to Tackle Cryptocurrency Abuse, Money Laundering and Tax Evasion

Ballard Spahr LLP on

ABA Tax Fraud Panel to Discuss IRS CI and Crypto Criminals - The Internal Revenue Service – Criminal Investigation (IRS CI) has made it clear that it is focusing on the abuse of digital currencies to further tax evasion,...more

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