Popular, Enforcement, Digital Assets

Don’t Forget to File (Accurately): 2024 Brings Heightened IRS and DOJ Focus on Non-Filers and Digital Assets

Pillsbury Winthrop Shaw Pittman LLP on 4/10/2024

The IRS has increased funding for collection and enforcement, with a stated focus on high income non-filers and digital assets (among other areas). The DOJ has also emphasized a focus on digital assets, and the Department...more

CFTC Division of Enforcement, FY 2023: A Year in Review and Looking Ahead

Davis Wright Tremaine LLP on 12/15/2023

On November 7, 2023, the Division of Enforcement ("Division") of the United States Commodity Futures Trading Commission ("CFTC") released its annual report of the results of its enforcement efforts, announcing that it had...more

A Potential Big Win for Bitcoin: A Federal Court Overturned the SEC’s Refusal to List a Spot Bitcoin ETF

Winstead PC on 9/5/2023

On Tuesday, August 29, 2023, Bitcoin once again loomed large over financial markets after the D.C. Circuit Court of Appeals vacated an SEC order that rejected Grayscale Investments’ (“Grayscale”) application to list a spot...more

Ripple’s Legal Waves: Ripple Summary Judgment Ruling Could Have Wide-Ranging Impact

Winstead PC on 7/31/2023

In a recent and highly anticipated decision, a court in the Southern District of New York held that Ripple’s cryptocurrency token – XRP – is not inherently a security. In a setback to the SEC, the court also held that...more

[Webinar] Bulls, Bears, and Blockchain - Special Edition: Former SEC Speaks - July 17th, 2:00 pm ET

BakerHostetler on 7/12/2023

Join BakerHostetler for our series of Fireside Chats about the latest developments impacting the capital markets and their participants, and the blockchain industry....more

New Crypto Products Launch; CBDC and NFT Reports Published; Network Protocol/Governance Updates Announced; Crypto Enforcement...

BakerHostetler on 6/26/2023

New Crypto Products Launch in Exchanges, Wallets, and Custody - A recent press release announced the launch of EDX Markets, a “first-of-its-kind digital asset marketplace designed to enable safe and compliant trading of...more

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

BakerHostetler on 5/8/2023

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

Preventing the Use of Cryptocurrencies to Evade Sanctions

Ankura on 4/20/2023

Cryptocurrencies have been making the headlines for all the wrong reasons. Their values have plummeted leaving investors out of pocket. Exchanges, lenders, and other entities in the crypto ecosystem have gone bust. Numerous...more

Metaverse, Blockchain & Digital Assets: 10 Legal Challenges for Companies in 2023

ArentFox Schiff on 1/31/2023

With the start of the new year, the ArentFox Schiff Metaverse Industry team reviews 10 of the most pressing legal issues for companies in 2023....more

U.S. Authorities Amplify Enforcement Efforts to Address Financial Crime Risks in the Digital Asset Industry

K2 Integrity on 10/26/2022

The United States Department of the Treasury has continued to signal that it will focus policy, regulatory, and enforcement attention on the financial crime and sanctions risk in the crypto and digital asset ecosystem...more

DOJ Expands Cryptocurrency Enforcement with Formation of Prosecutors Network

Dechert LLP on 9/22/2022

In response to President Biden’s March 9, 2022 Executive Order on digital assets, the DOJ announced the formation of a new network of prosecutors tasked with becoming specialists in investigating and prosecuting alleged...more

Ethereum Moves to PoS; Firms Launch Crypto, NFT Initiatives; EO Crypto Energy Impact Report Published; Crypto Addressed by OFAC,...

BakerHostetler on 9/19/2022

Ethereum Network Completes Transition to Proof of Stake Consensus - After years of development and delays, Ethereum’s long-awaited “merge” occurred this week, changing the network’s consensus mechanism from proof-of-work...more

SEC Unveils Strategic Plan With Renewed Focus on Technology

Latham & Watkins LLP on 9/16/2022

The plan directs the agency to develop a robust regulatory framework to prevent market misconduct, as SEC officials’ public comments keep advancements in technology high on the agenda. On August 25, 2022, the Securities...more

US DOJ Responds to Biden Executive Order on Digital Assets

Husch Blackwell LLP on 7/5/2022

On March 9, 2022, President Joseph Biden issued Executive Order 14067, which charged the Department of Justice (in consultation with the Departments of State, Treasury, and Homeland Security) to submit a report on how to...more

The Varying Federal, State And Local Attitudes On Crypto

Foley & Lardner LLP on 5/27/2022

The U.S. Securities and Exchange Commission is adding 20 positions to its Crypto Assets and Cyber Unit. These positions are all enforcement-related. None of the new staff will be charged with carrying out the SEC's...more

U.S. Government Steps Up Its Enforcement in the Digital Assets Space

Alston & Bird on 5/26/2022

Our Blockchain & Digital Assets Team offers a snapshot sample of significant recent developments by a panoply of federal agencies and departments that represent the expanding array of enforcement tools used by federal...more

Cryptocurrency Tax Enforcement May Soon Reward Tipsters Through Whistleblower Program and False Claims Act

BakerHostetler on 5/24/2022

Key Takeaways - ..Taxpayers could be criminally and civilly liable under state False Claims Act statutes for underreporting income linked to virtual currency. ..While the federal False Claims Act explicitly excludes tax...more

Unpacking the Government’s Cryptocurrency Regulatory and Enforcement Agenda

Pillsbury Winthrop Shaw Pittman LLP on 12/1/2021

Department of Justice announces criminal and civil cryptocurrency initiatives as Securities and Exchange Commission Chair Gensler continues to develop the agency’s regulatory and enforcement agenda. Despite an unsettled...more

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

Perkins Coie on 10/11/2021

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

Crypto, CBDC and Blockchain Supply Chain Initiatives Announced; More SEC and FinCEN Enforcement; Crypto Tax Amendment Fails; DeFi...

BakerHostetler on 8/16/2021

Crypto Firms Pursue Bank Charters, Traditional Financial Firms Integrate Crypto - This week, the Wyoming Division of Banking granted a new Special Purpose Depository Institution (SPDI) bank charter to Commercium Financial...more

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