Weekly Focus: Hawaii Launches Digital Currency Sandbox Coinbase CLO appointed to Office of the Comptroller of the Currency DHS Critical Infrastructure Memo Includes Blockchain Managers Bank of Russia Reluctant to Legalize Cryptocurrencies Approved Smart Contract Certification for Argentinian Gas Distributor Thai Remittance Platform Uses Ripple Bakkt Launches Partnership with Starbucks Huobi Exchange Implements Liquidation Halt…

In the midst of the COVID-19 pandemic, the financial markets have experienced significant volatility. During the course of this volatility, exchanges have halted trading multiple times after declines in trading trigged circuit breakers. In addition, trading floors are transitioning to electronic trading in efforts to prevent the transmission of COVID-19 on physical trading floors. With the recent turmoil, this post provides a high-level summary of the various types of circuit breakers and what can be…

Weekly Focus: Congressman Gosar Introduces Crypto-Currency Act of 2020 Morningstar Rates Ethereum-based Digital Representation of Securities for the First Time Verizon Uses Blockchain Technology for Cybersecurity Purposes Figure Technologies Securitizes $150 million of HELOCs on Blockchain…

On March 9, 2020, FINRA released Regulatory Notice 20-08 (the “Regulatory Notice”) providing guidance and limited relief to its member broker-dealers during the COVID-19 pandemic. In particular, the Regulatory Notice requests that broker-dealers evaluate their compliance with FINRA Rule 4370, which requires broker-dealers to create, maintain, and update upon any material change, BCPs (Business Continuity Plans) identifying procedures relating to emergency or significant business disruption.…

On March 10, the New York State Department of Financial Services (DFS) issued guidance and a request for assurance to financial institutions engaged in virtual currency business activity in New York. The request requires regulated virtual currency businesses to prepare and submit a plan of preparedness to manage the risk of disruption to services and operations caused by the novel coronavirus known as “COVID-19”.…

Weekly Focus: ICO Issuer Settles SEC Registration Charges IRS and Cryptocurrency Industry Groups to Meet Amid Agency Enforcement Push Washington Blockchain Work Group Bill Passes State Senate Brazilian Central Bank to Launch Payment System to Compete With Cryptocurrencies Financial Intelligence Units Meet to Discuss Global Issues Surrounding Virtual Assets Bank of Korea to Leverage Blockchain Technology in Bond Market DeFi Project, bZx, Loses $630,000 in Ether in Second “Flash Loan” Exploit in a Week Coinbase…

Weekly Focus U.S. Treasury Foreshadows “Significant New Requirements” Enforcement Actions Brought Against Allegedly Fraudulent Digital Asset Investment Scheme Department of Justice Charges Darknet-Based “Mixer” With Laundering Over $300 Million, Operating an Unlicensed Money Transmitting Business, and Money Transmission Without a License Report Finds Crypto Crime Losses Double to $4.5 Billion in 2019 J.P. Morgan Discusses Merger With ConsenSys Aragon Court Launches Precedence Campaign IBM Claims Blockchain Expenditures Yield 15x for Cloud IOSCO Releases Updated Report…