The Blockchain MonitorBahamas CBDC Prepaid Card, Ether Investment Products and Travel Rule Solutions Launch, Crypto Enforcement Settlements by OFAC and NYAG By Jordan R. Silversmith, Veronica Reynolds, Joanna F. Wasick & Keith R. Murphy February 26, 2021 In this issue: • Bahamas CBDC Integrates with Prepaid Card, Bitcoin Donation Data Published • Ether Investment Products Launch, New Publications Detail Crypto Adoption • Travel Rule Solutions Launch, DeFi Market Dissolves Following SEC Inquiry • Federal and State Agencies Pursue Multiple Cryptocurrency Offenders Bahamas CBDC Integrates with Prepaid Card, Bitcoin Donation Data Published By: Jordan R. Silversmith A major U.S. financial services firm recently announced a collaboration with the Central Bank of The Bahamas…
The Blockchain MonitorCrypto Payment Options Announced, Federal Reserve Official Addresses Bitcoin, US and Foreign Actions Target Crypto Crimes, DeFi Hacks Continue By Joanna F. Wasick, Keith R. Murphy & Veronica Reynolds February 19, 2021 In this issue: • Crypto Payment Options Announced, Federal Reserve Official Addresses Bitcoin • Enforcement Actions Target Crypto Trading, Hacking and Money Laundering • Flash Loan Attacks Cripple DeFi, Criminal ‘Retires’ with $1Billion in Bitcoin Crypto Payment Options Announced, Federal Reserve Official Addresses Bitcoin By: Joanna F. Wasick Late last week, BitPay, a leading provider of cryptocurrency payment services, announced that U.S. users of its prepaid debit card, which allows users to make purchases using…
The Blockchain MonitorFinancial Firms Move to Integrate Cryptocurrencies, Blockchain Solutions Announced Across Markets, Agencies Target Crypto Crimes as Threats Continue By Veronica Reynolds, Robert A. Musiala, Teresa Goody Guillén & Jordan R. Silversmith February 12, 2021 In this issue: • Payment Firms Adopt Cryptocurrencies, Company Purchases $1.5 Billion in Bitcoin • Blockchain Enterprise Initiatives Announced Across Global Markets • US and Foreign Agencies Take Action Against Cryptocurrency Fraud Schemes • Report Details North Korea Links to Crypto Hacks, Ransomware Connections Payment Firms Adopt Cryptocurrencies, Company Purchases $1.5 Billion in Bitcoin By: Veronica Reynolds According to a press release, last week the Office of the Comptroller of the Currency provided conditional approval…
The Blockchain MonitorCrypto Exchanges Announce Market Developments, US Report Addresses Crypto Tax, New DOJ and SEC Enforcement, Reports Detail Crypto Crimes By Veronica Reynolds, Joanna F. Wasick, Teresa Goody Guillén & Jordan R. Silversmith February 5, 2021 In this issue: • Cryptocurrency Exchanges and Financial Firms Announce Market Developments • US Report Covers Crypto Tax Issues, Israeli Ruling Says Tokens Are Securities • DOJ, SEC and Europol Bring Various Cryptocurrency Enforcement Actions • Reports Provide Insights on Cryptocurrency Crimes and Darknet Activities Cryptocurrency Exchanges and Financial Firms Announce Market Developments By: Veronica Reynolds Last week, Coinbase signified its intent to become a publicly traded company by announcing a proposed direct listing of…
The Blockchain MonitorPodcast: BakerHostetler Blockchain University: Beyond Cryptocurrency – Non-Financial Use Cases for Blockchain By Robert A. Musiala & Veronica Reynolds February 3, 2021 The fourth episode in the series provides an overview of how Blockchain is being used today in non-financial applications. Topics discussed include using blockchain in various sectors, including the food supply and pharmaceutical industries, maritime shipping, the cobalt supply chain, self-sovereign identity, credentialing and records management. Questions & Comments: rmusiala@bakerlaw.com, vreynolds@bakerlaw.com Listen to the episode. Subscribe to BakerHosts Apple Podcast | Google Podcast | iHeartRadio | Spotify | Stitcher | TuneIn Download Episode …
The Blockchain MonitorFinCEN Extends Crypto Rule Comment Period, Crypto Products Launch; Enforcement Agencies Target Crypto Crimes in US, Japan and China By Robert A. Musiala & Joanna F. Wasick January 29, 2021 In this issue: • FinCEN Extends Crypto Rule Comment Period, Crypto Payment Products Launch • Enforcement Agencies Target Cryptocurrency Crimes in US, Japan and China FinCEN Extends Crypto Rule Comment Period, Crypto Payment Products Launch By: Robert A. Musiala Jr. This week the U.S. Financial Crimes Enforcement Network (FinCEN) published a notice extending the comment period for its proposed rule that would impose new requirements on certain transactions involving convertible virtual currency or digital assets…
The Blockchain MonitorFinCEN Proposed Rule Halted, Exchanges and Banks Expand Crypto Products, SEC Brings Action Against Token Issuer, Crypto Threat Reports Published By Jordan R. Silversmith, Veronica Reynolds & Robert A. Musiala January 22, 2021 In this issue: • Exchanges and Banks Expand Cryptocurrency Services and Products • FinCEN Proposed Rule Halted, Banks and Crypto Exchanges Adjust Policies • SEC Brings Action Against SAFT and Token Issuer, Related Statement Published • Reports Provide Details on Criminal Activities Involving Cryptocurrencies Exchanges and Banks Expand Cryptocurrency Services and Products By: Jordan R. Silversmith A major U.S. cryptocurrency exchange recently announced the launch of its asset hub. The initiative is intended to “streamline…
The Blockchain MonitorCrypto Trust to Become Bank, FinCEN Comment Period Extended, Navy Awards Blockchain Contract, Dark Market Seized, Illicit Exchange Owner Sentenced By Veronica Reynolds, Jordan R. Silversmith, Robert A. Musiala & Teresa Goody Guillén January 15, 2021 In this issue: • Crypto Trust to Convert to Bank, FinCEN Extends New Rule Comment Period • Bitcoin Firms List on Public Markets, Japan Diverges from SEC on XRP Status • Navy Contracts for Blockchain Solution, SSI Report and Market Data Published • Enforcement Actions Target Dark Web Market and Illicit Crypto Exchange Crypto Trust to Convert to Bank, FinCEN Extends New Rule Comment Period By: Veronica Reynolds The Anchorage Trust Company, a subsidiary of…
The Blockchain MonitorNY DFS Approves New Stablecoin Co., Blockchain Data Solutions Announced, New Cryptocurrency Regulatory and Enforcement Actions in U.S. and Abroad By Jordan R. Silversmith, Teresa Goody Guillén, Veronica Reynolds & Joanna F. Wasick January 8, 2021 In this issue: • NY DFS Approves New Stablecoin Company, Crypto Financial Products Continue Growth • Blockchain Used To Enhance Auto Geofencing and Combat Whiskey Fraud • US Financial Regulators Continue Crypto-Focused Regulatory Proposals • OFAC Settles With Crypto Custodian; Enforcement Actions in UK, Italy, Iran NY DFS Approves New Stablecoin Company, Crypto Financial Products Continue Growth By: Jordan R. Silversmith New York’s Department of Financial Services (DFS) recently granted a charter under New York…
The Blockchain MonitorFinCEN Proposes New Crypto Record-Keeping Rules; SEC and CFTC Issue Digital Asset Guidance; SEC Closes 2020 With Multiple Enforcement Actions Against Blockchain Firms By Robert A. Musiala January 5, 2021 In this issue: • FinCEN Proposed Rule Creates New Cryptocurrency Record-Keeping Requirements • SEC Issues Statement on Digital Asset Custody, CFTC Issues Digital Assets Primer • SEC Closes 2020 With Multiple Blockchain Industry Enforcement Actions FinCEN Proposed Rule Creates New Cryptocurrency Record-Keeping Requirements By: Robert A. Musiala Jr. On Dec. 18, 2020, the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, published a notice of proposed rulemaking that would…