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Digital Assets Compliance Enforcement Actions

BakerHostetler

Weekly Blockchain Blog - July 2024 #2

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US Stablecoin Companies Achieve Licenses, Avoid SEC Enforcement Action - According to a recent press release, Circle, the issuer of USDC and EURC, announced that it is now the “first global stablecoin issuer to achieve...more

BCLP

CFTC’s Annual Enforcement Results: Another Blockbuster Year

BCLP on

The Commodity Futures Trading Commission ("CFTC") recently released its enforcement results for Fiscal Year 2023 ("FY 2023"), which ran from October 1, 2022, through September 30, 2023. ...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

Barnea Jaffa Lande & Co.

Can DeFi use exempt a project from compliance?

Barnea Jaffa Lande & Co. on

Last August, the US Treasury Department sanctioned Torando Cash, a decentralized crypto mixing service. A month later, another US regulator, the CFTC, imposed a $250,000 fine on Ooki DAO, citing various regulatory violations,...more

Holland & Knight LLP

Crypto Company Comes Under OFAC Scrutiny

Holland & Knight LLP on

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) on Oct. 11, 2022, announced a more than $24.28 million settlement with Bittrex Inc. (Bittrex), a Bellevue, Washington-based company that offers...more

Harris Beach PLLC

Recent Enforcement Actions Indicate Heightened Scrutiny of BSA/AML Compliance and Digital Assets

Harris Beach PLLC on

Recent enforcement actions against banks indicate a new regulator emphasis on digital assets and Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance. Last year, Anchorage Digital Bank (Anchorage)—formerly Anchorage...more

K2 Integrity

Virtual Assets and Sanctions: What Businesses Need to Know

K2 Integrity on

As virtual assets explode in value, use, and popularity, governments around the world are taking notice, increasing sanctions-related scrutiny of companies that provide related services and focusing regulatory and enforcement...more

WilmerHale

CFTC 2020 Enforcement and Regulatory Developments and a Look Forward

WilmerHale on

2020 saw continuity in CFTC leadership, programs, and direction from 2019. Overall, the Commission enjoyed an unusually heavy rulemaking calendar and continued the direction of its enforcement program from 2019. On the...more

The Volkov Law Group

SEC Launches Enforcement Action Against Cryptocurrency Company Ripple

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In December 2020, three days before Christmas, the SEC filed a significant case against Ripple, the major cryptocurrency company. Ripple is a major cryptocurrency company, utilizing the technology to create a global digital...more

Latham & Watkins LLP

The Yellow Brick Road for Consumer Tokens: The Path to SEC and CFTC Compliance - An Update

Latham & Watkins LLP on

Developing a framework for consumer tokens - With the rapid growth in the development of blockchain technology, virtual currencies and token sales (sometimes referred to as initial coin offerings, or ICOs), token...more

Dechert LLP

Financial Crimes Enforcement Network, Treasury Department Affirm Regulatory Regime for Convertible Virtual Currencies

Dechert LLP on

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued guidance on May 9, 2019, underscoring the application of the Bank Secrecy Act (BSA) and its implementing regulations relating to money...more

Dechert LLP

SEC Staff Releases Statement on Digital Asset Securities Issuance and Trading and Provides Guidance on Path Forward for Resolving...

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The U.S. Securities and Exchange Commission announced two settled enforcement actions on November 16, 2018, imposing registration requirements and civil penalties against issuers of initial coin offerings (ICOs) for failing...more

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