US

FinCEN Issues Guidance and Advisory on Convertible Virtual Currencies

On May 9, 2019, the U.S. Financial Crimes Enforcement Network (FinCEN) issued guidance on the application of Bank Secrecy Act (BSA) regulations, specifically those regulations applicable to money services businesses

Read Full Article
Cryptocurrency, FinCEN, US

FinCEN’s First Enforcement Action Against P2P Virtual Currency Exchanger

On April 18, 2019, the Financial Crimes Enforcement Network (FinCEN), an arm of the U.S. Department of the Treasury assessed a civil money penalty against Eric Powers for willfully violating the Bank

Read Full Article
Bitcoin, Currency Exchange, FinCEN, US

Bitcoin Dealer Sentenced to Two Years in Prison and Ordered to Forfeit Ill-Gotten Gains

On April 8, 2019, Jacob Burrell Campos of Rosarito, Mexico, was sentenced to two years in prison and to forfeit USD 823,357 in illicit profits for operating an unlicensed money

Read Full Article
AML, Criminal, KYC, Money Transmitter, US

SEC Issues its First Cryptocurrency No-Action Letter

In a first, on April 3, 2019, the US Securities and Exchange Commission issued its first cryptocurrency No-Action Letter.  The Letter was issued to TurnKey Jet Inc. (“TKJ”), a jet-leasing

Read Full Article
Cryptocurrency, No-Action Letter, SEC, US

Foreign Trading Platform and Its CEO to Pay $990,000 for Illegal Bitcoin-Related Transactions with U.S. Customers

On March 11, 2019, the U.S. Commodity Futures Trading Commission (CFTC) announced that it had entered into a Consent Order

Read Full Article
AML, CFTC, FCM, SEC, US

U.S. SEC Encourages Self-Reporting in ICO Registration Violation Case

On February 20, 2019 the U.S. Securities and Exchange Commission (“SEC”) reached a settlement with Gladius Network LLC for conducting

Read Full Article
Enforcement, ICO, SEC, US

US Congress Inches Forward on Laws for Cryptocurrencies

House bills with bipartisan support would direct regulators to examine new ways to oversee digital assets and protect them from

Read Full Article
CFTC, Legislation, US

SEC’s Supposed Setback on Token Issue Now Reversed

In November 2018, a U.S. District Court declined to accept the SEC’s argument that an ICO token was a “security.” 

Read Full Article
ICO, SEC, US

What To Expect When Litigating Smart Contract Disputes

The blockchain phenomenon has brought an ever increasing use of smart contracts.  Those contracts raise numerous issue for disputes lawyers. 

Read Full Article
DAO, Smart Contracts, US

A Series Of 1st-Time Crypto Actions For The SEC

On December 17 we published an article in Law360 describing the SEC’s busy November in which it secured three “firsts”

Read Full Article
Enforcement, ICO, SEC, US

Categories

Location