News & Analysis as of September 13, 2024

Virtual Currency › Dark Web

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Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency. less -

Weekly Blockchain Blog - June 2024 #4

BakerHostetler on 6/24/2024

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

Update on OFAC Cyber Sanctions List: Hydra and Garantex

Robinson+Cole Data Privacy + Security Insider on 4/11/2022

On April 5, 2022, the U.S. Department of Treasury Office of Foreign Assets Control (OFAC) sanctioned darkweb Hydra Marketplace and virtual currency Garantex and added both to the Specially Designated Nationals List (SDN). ...more

Crypto and Virtual Currency Risks

K2 Integrity on 1/26/2022

The ABA/ABA Financial Crimes Enforcement Conference took place January 11-13, with K2 Integrity Managing Director Gabriel Hidalgo, who leads the firm’s Crypto and Fintech Advisory practice, leading an important conversation...more

United States Department of Justice Announces National Cryptocurrency Enforcement Team and Civil Cyber-Fraud Initiative

Jenner & Block on 10/15/2021

Ransomware attacks have become increasingly common and, according to the NSA Director, are projected to continue growing in prevalence. Amidst the rise in ransomware attacks, last week the United States Department of Justice...more

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

Ballard Spahr LLP on 12/10/2019

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

Data Privacy + Cybersecurity Insider - July 2018 #4

Robinson & Cole LLP on 7/30/2018

The Federal Energy Regulatory Commission (FERC) announced on July 19, 2018, that it is directing the North American Electric Reliability Corporation (NERC) “to develop and submit modifications to the NERC Reliability...more

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