On December 1, 2022, the Consumer Financial Protection Bureau (Bureau) made public an administrative order denying Nexo Financial LLC’s (Nexo) petition to modify the Bureau’s civil investigative demand.
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New York Enacts Crypto Mining Moratorium
On November 22, 2022, New York Governor Kathy Hochul signed into law a two-year moratorium against granting permits to crypto mining operations that “are operated through electric generating facilities that use a carbon-based fuel.” Renewable sources of energy are not
Webinar: From Stormy Seas to Safe Harbors: Crypto and New UCC Article 12
Hunton Andrews Kurth LLP invites you to join us for a webinar – From Stormy Seas to Safe Harbors: Crypto and New UCC Article 12; Thursday, December 1, 2022, 1:30–2:30 pm ET
CFPB Publishes Bulletin Analyzing Crypto Complaints
On November 10, 2022, the Consumer Financial Protection Bureau (“CFPB”) announced the publication of a “complaint bulletin” analyzing consumer complaints relating to crypto assets.
European Commission Publishes Report on Decentralized Finance
On October 18, 2022, the European Commission published a report, titled Information Frictions and Public Policies: Approaching the Regulation and Supervision of Decentralized Finance (“DeFi”) (the “Report”). The Report discusses the need to adapt existing policy frameworks to account for
Treasury Issues Final Rule on Beneficial Ownership Reporting Requirements Under the Corporate Transparency Act
On September 29, 2022, the Financial Crimes Enforcement Network (“FinCEN”) issued final regulations (the “Final Rule”) implementing the comprehensive beneficial ownership reporting requirements of the Corporate Transparency Act (“CTA”), a critical part of the Anti-Money Laundering Act of 2020 (the
Digital Asset Insurance Coverage
In a seven-part series delving into issues relating to insurance coverage for digital assets, we provide a comprehensive understanding of the types of loss that can be sustained, who can sustain them, the availability of coverage under traditional insurance policies,
FSOC Issues Digital Asset Report
On October 3, 2022, the Financial Stability Oversight Council released a report outlining the risks posed by digital assets to the financial stability of the United States.
Kim Kardashian Ordered to Pay Over $1.26 Million for Securities Violation Arising Out of Crypto Endorsement
The SEC instituted settlement proceedings against Kim Kardashian on Monday, alleging that the reality television star and entrepreneur violated the SEC’s anti-touting statute when she failed to disclose compensation that she received in exchange for an Instagram post endorsing cryptocurrency
Treasury Releases Three Reports on Digital Assets
Following up on President Biden’s recent executive order on digital assets, the US Treasury Department recently announced the publication of three reports on digital assets. The reports address issues relating to The Future of Money and Payments; Implications for Consumers,